The U.S. Securities and Exchange Commission is meeting to consider a proposal that would allow businesses to sell ownership stakes in their companies by soliciting investors over the Internet.
U.S. Securities and Exchange Commission Chairman Mary Jo White said her agency will shift its focus to bring more cases against individuals who violate securities laws rather than the companies where they work.
The SEC chairman said she would push for new rules after a system caused a three-hour halt on the Nasdaq today.
Mary Jo White, who gained prominence prosecuting terrorists as U.S. attorney for Manhattan, will be named by President Barack Obama to be chairman of the Securities and Exchange Commission, according to a White House statement.