A commissioner on the Securities and Exchange Commission on Monday said she supports allowing hedge funds to publicly advertise, but she also raised concerns about how a proposal under consideration by the agency doesn’t seem to consider a number of investor protections. <\/p>\n
Elisse Walter, a Democratic commissioner on the agency, said that the decades-old ban should be lifted but that the agency should also consider a series of recommendations made by an investor advisory committee, many of which were not considered in the proposal.<\/p>\n
Speaking to reporters after participating in the event, Walter suggested that the agency could try to address some of the investor protection concerns in a separate effort. The SEC is under pressure to adopt the rules by lawmakers and the five-member agency\u2019s two Republican commissioners. New SEC Chairman Mary Jo White has said that finishing the rule is among her top priorities.<\/p>\n
The lifting of the restriction is mandated by the JOBS Act, the legislation approved by Congress in April 2012 seeking to ease access to capital for small and mid-sized companies.<\/p>\n
\u201cWe have a proposal out there, and it\u2019s a very shockingly stark proposal how streamlined it was and how few questions it asked,\u201d Walter told reporters after speaking to the FINRA conference.<\/p>\n