The U.S. Treasury Department on Friday said parts of the Dodd-Frank Act should be repealed, among other steps, to promote economic growth and capital formation. “By streamlining the regulatory system, we can make the U.S. capital markets a true source of economic growth which will harness American ingenuity and allow small businesses to grow,” Treasury Secretary Steven Mnuchin said in remarks accompanying a report on regulation and markets. The report also recommends increasing the amount that can be raised in a crowdfunding offering from $1 million to $5 million. Among the Dodd-Frank recommendations are repealing disclosure requirements regarding conflict minerals.
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