Called the "Jumpstart Our Business Startups" (JOBS) Act, the measure would remove the wall, erected after the dot-com debacle, between research analysts and investment bankers.

During the go-go days of the dot-com era, it was common for analysts to promote IPOs being offered by their investment bank masters, regardless of the worth of the offering.

The existing rules, which would be scrapped by the JOBS Act now before the U.S. Senate, were designed to protect investors from the conflicts of interest that damaged the IPO market after the pop of the dot-com bubble, damage from which it has only recently recovered.

"The research scandals of the dot-com era and the collapse of the dot-com bubble buried the IPO market for years," SEC Commissioner Luis A. Aguilar observes in a posted to the agency's website on Friday. "Investors won’t return to the IPO market, if they don’t believe they can trust it."

Making it more difficult to find reliable information about an up-and-coming company won't encourage investors to invest in capital markets favorable to start-ups, according to University of Florida Finance Professor Jay Ritter.