A bill to create a pilot program allowing small-cap companies to increase the tick sizes their stocks trade at passed the House Feb. 11 with bipartisan support.
The Small Cap Liquidity Reform Act (H.R. 3448), introduced by Reps. Sean Duffy (R-Wis.) and John Carney (D-Del.), was approved 412-4.
The bill’s passage reflects broad legislative support for changing tick sizes, a tweak to the Jumpstart Our Business Startups Act, although an advisory committee to the Securities and Exchange Commission recently recommended not adopting a pilot program.
The move marks a step forward in capital formation reform, but it is unclear whether ...
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