Pennsylvania Securities Commission Voices Concern over Federal Plans to Relax Financial Regulations

U.S. Newswire, October, 2007

To: POLITICAL EDITORS

Contact: John P. Quinn, Director, Division of Corporation Finance of the Pennsylvania Securities Commission, 1-717-783-4185

HARRISBURG, Pa., Oct. 29 /PRNewswire-USNewswire/ -- In its continuing effort to protect Pennsylvania investors from unsound and unscrupulous investment schemes, the Pennsylvania Securities Commission has filed a cautionary comment with the Securities and Exchange Commission concerning the federal agency's recent proposal to relax regulations over the financial markets.

The SEC's proposal, tentatively known as Rule 507 of Regulation D, would allow companies and brokers to advertise unregistered securities -- that is, those securities which have not been reviewed by state or federal regulators -- and sell those...

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