Washington, D.C. – U.S. Senator Catherine Cortez Masto (D-Nev.) released the following statement after her amendment to include increased investor protections for Indian tribes was adopted into the Indian Economic Enhancement Act of 2017 and passed out of the Senate:
“It has always been one of my top priorities in Congress to ensure that tribal leaders are empowered to make the changes they want to see in their communities. This legislation will expand access to key economic development services in Indian Country and help provide tribal entrepreneurs and business owners with the tools they need to grow their local economies.”
“My amendment specifically requires the Securities and Exchange Commission to include certain consumer protections in its updated investment guidelines. This new requirement will allow Indian tribes to be treated as accredited investors while still maintaining important consumer protections. Shareholders in Indian Country should be able to take risks and invest in their businesses without the danger of being steered into risky investments by predatory brokers or defrauded by a $1 trillion unregistered securities market.”