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The Boston Globe

Business

JOBS Act passes Senate by wide margin

Bill would exempt smaller IPOs from disclosure rules

WASHINGTON - A bill that would make fundamental changes in how small companies are able to raise money from investors passed the Senate easily Thursday, but with changes that mean the measure must still be reconciled with a bill previously approved by the House.

The JOBS Act, whose acronym stands for Jump-start Our Business Startups, would designate a new category of “emerging growth’’ companies that could conduct initial public offerings of stock while being exempt from certain financial disclosure and governance requirements for up to five years.

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