July 1, 2012
The definition of small "emerging growth companies," should be changed to include any operation with less than $100 million in annual revenue and $50 million (or less) in public float so that we are truly targeting small companies.
The act should NOT excuse emerging growth companies from independent accounting rules designed to prevent conflicts of interest with independent Wall Street analysts. They should NOT be allowed to confidentially submit their IPO paperwork prior to going public and should make it a requirement that executives pay packages are subject to shareholder approval if they want to qualify for this program.
The deregulations of the banking and insurance sectors led to the runaway debt problems with legal misuse of the system and we shouldn't repeat the same mistakes just to spur development that will cause more problems down the road.