June 27, 2012
Changing the advertising rules for hedge funds led to a wave of fraud when it was done years ago, why would anyone do the same thing again?
Exempting smaller companies from reporting rules might make sense if they were actually small. $700 million market cap and $1 billion annual revenue can't be the upper limit of "emerging growth companies", those are large corporations who should be held to the same accounting and disclosure rules as every other company.