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<ul class="news-points"> 
 <li>In a tweet posted on Tuesday, Hester Peirce criticized the broad penny stock bars imposed by the U.S. Government.</li> 
 <li>Peirce also questioned the absence of an explanation as to why this level of restriction was necessary.</li> 
 <li>In her written statement, the commissioner suggested a more appropriate alternative.</li> 
</ul> 
In a <a href="https://twitter.com/HesterPeirce/status/1673812153369763844" target="_blank" rel="nofollow">tweet</a> published on Tuesday, Hester Peirce, a commissioner on the Securities and Exchange Commission (SEC) expressed her dissatisfaction with the U.S. government’s decision to impose penny-stock bars to resolve four long-pending adjudication matters. Peirce also outlined her reasons for opposing these penny stock bars in a written <a href="https://www.sec.gov/news/statement/peirce-penny-stock-prohibitions-20230621" target="_blank" rel="nofollow">statement</a>. 
Peirce emphasized that administrative proceedings, such as the ones in question, are intended to be remedial rather than punitive. The purpose of imposing bars is to protect the public from potential future harm by preventing individuals from engaging in activities that could pose risks to investors.&nbsp; 
The Steadman v. SEC case, which outlines relevant factors for assessing the likelihood of future law violations, is typically used as a guide by the Commission. Meanwhile, in this particular case, all four respondents …
The post <a rel="nofollow" href="https://coinedition.com/commissioner-peirce-disagrees-with-penny-stock-bar-decision/">Commissioner Peirce Disagrees With Penny Stock Bar Decision</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Commissioner Peirce Disagrees With Penny Stock Bar Decision

Coin Edition

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