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Archive for Friday, July 16, 2010

Official: Legislation will protect investors

July 16, 2010

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— Kansas Securities Commissioner Marc Wilson on Thursday said the financial overhaul will provide Kansans with more protections.

“Whether or not one agrees with Congress’s approach, this bill adds several important protections for Kansas retail investors,” Wilson said.

“Most importantly, the bill reintroduces so-called “bad boy” laws that, prior to 1996, banned felons from using federal exemptions to offer securities. Common sense prevailed in once again preventing convicted felons from raising capital in the public marketplace,” he said.

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