SEC Reaches Out To SMBs
Written by Ken Gaebler
In an effort to better meet the needs of small businesses, the SEC formed an advisory committee to relay advice and comments from the small and emerging business sector.
The U.S. Securities and Exchange Commission formed the Advisory Committee on Small and Emerging Companies to focus on the needs and interests of small businesses and smaller public companies. The committee will serve to provide the SEC with information and advice from the small business community to better serve that sector of the U.S. economy.
Forbes reported that the SEC is working on helping small businesses gain capital to spur growth, while protecting the interest of investors. The newly formed committee intends to consult with the SEC on issues including raising capital through private placements and public securities, trading in small business securities and public reporting requirements of small enterprises. In addition, the committee will advise the SEC on how to reduce regulations on raising capital that burden small businesses.
In an interview with Tax News, SEC chairman Mary Schapiro said the capital markets are a prime source of funding for small businesses and smaller public companies.
"That is why a key component in our agency's mission is to facilitate capital formation while at the same time protecting investors," Schapiro told the source. "This new advisory committee will increase the input we receive from the small business community."
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