Fincher's Energize Emerging Opportunities Act Passes House, Heads to Senate

Press Release

Today, Congressman Stephen Fincher (TN-08) released the following statement after the House advanced his bill to require the Commodity Futures Trading Commission (CFTC) to harmonize its rules for general solicitation and marketing with the rules of the Securities and Exchange Commission (SEC). Congressman Fincher's Energize Emerging Opportunities Act (H.R. 1954) was included in the Commodity End-User Relief Act (H.R. 2289), which passed the House with a recorded vote of 246-171.

"I'm pleased to see the House take action to remove barriers that are hindering economic growth and ultimately costing the U.S. economy valuable jobs," said Congressman Fincher. "By harmonizing the CFTC and SEC rules, my legislation will provide emerging growth companies with a clear understanding of the rules and the ability to fully participate in creating more jobs. I look forward to my colleagues in the Senate passing this legislation as soon as possible."

Background:

The Jumpstart Our Business Startups (JOBS) Act, passed by Congress and signed into law in 2012, directed the SEC to provide an exemption for general solicitation and marketing for companies. Congressman Fincher is the original author of Title I of the bipartisan JOBS Act, which created the category of the Emerging Growth Company. Since the JOBS Act was enacted into law in April 2012, 561 companies have gone public as emerging growth companies, which is 84% of all IPOs according to the SEC.

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