Appointments to Small Business Capital Formation Advisory Committee
The Securities and Exchange Commission is looking for potential candidates to appoint to the Small Business Capital Formation Advisory Committee. The committee’s mission is to provide the SEC with advice and recommendations on issues relating to the rules, regulations, and policies that the Commission has in place for small businesses, including smaller public companies.
The SEC Small Business Advocate Act of 2016 is the legislation that led to the formation of the Committee. Members of the committee come from a wide variety of backgrounds and represent a spectrum of different types of leaders, investors, and advisors who work with early stage private companies and smaller public companies, including small businesses owned by women and minorities.
Gary Gensler, the chairman of the Securities and Exchange Commission, stated that “the Small Business Capital Formation Advisory Committee and its members are key to ensuring that a wide variety of perspectives are represented in SEC policymaking.” “I look forward to working with the members of the Committee to continue to uphold the SEC’s mandate to facilitate capital formation for companies of all sizes, while at the same time ensuring that investors are adequately protected,
The Committee provides the Commission with recommendations and participates in consultations regarding the following rules, regulations, and policies:
- Trading in the securities of emerging companies and smaller public companies; capital raising by newly established, privately held small businesses as well as publicly traded companies with a market capitalization of less than $250 million; and
- Emerging companies and smaller public companies are required to meet certain standards for public reporting and corporate governance.
- Members of the general public who are interested in serving on the Committee should promptly send an interest letter that includes pertinent information about their previous experience.
Submissions have to be received by February 17, 2023, in order for them to be considered on time. Relevant experience may include the following:
I representing emerging companies engaging in private and limited securities offerings or considering an initial public offering (IPO), professional advisors of such companies, and investors in such companies; (ii) service as an officer or director of minority-owned small businesses or women-owned small businesses; (iii) representing smaller public companies, the professional advisors of such companies, and the pre-IPO and post-IPO investors in such companies; and (iv) representing larger public companies, the professional advisors of smaller public companies and emerging companies.
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