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Forbes, February 14, 2012

Supreme Court Cert Petition Spotlights Speech Limits on Securities Market

Distinguished First Amendment scholar Frederick Schaeur once wrote in the Harvard Law Review, “It might be hyperbole to describe the Securities and Exchange Commission as the Content Regulation Commission, but such a description would not be wholly inaccurate.” SEC has yet to heed a suggestion from one of its own advisory committees to relax prohibitions on general solicitations and advertising, and has ignored a letter from the New York City Bar noting that New York and 30 other states take a more respectful approach to securities speech regulation.

The entire article may be read here.