The Wall St. Journal reports on a proposal to simplify rules for U.S. private companies to raise funds and easing constraints on issuing shares. The review by the SEC and disclosed in a letter from the SEC's Chairman Mary Schapiro to Rep. Darrell Issa (R. Ca.), House Oversight Committee Chairman outlined steps being taken by the SEC to review all rules which constrain raising funds for privately held U.S. companies. The concern among smaller high tech firms is that the current rules limit the amount of funds that they can raise without having to perform a complete financial disclosure. The number initial private offerings in the United States has fallen to 130 a year from an average of 503 during the high-tech IPO boom of the...