SEC Chair Jay Clayton urged the Small Business Capital Formation Advisory Committee to consider ways to facilitate opportunities for "Main Street" investors and to support small businesses through private placements.
The SEC issued a concept release reviewing the framework for exempt offerings, particularly as to private placements. The agency is requesting public comment on ways to simplify, harmonize and improve that framework.
SEC Director of the Office of the Advocate for Small Business Capital Formation Martha Miller explained that the purpose of the newly established office is to help small businesses and their investors access capital.
SIFMA and the Security Traders Association raised concerns about legislative proposals on capital formation and corporate governance currently under consideration by the U.S. Senate Committee on Banking, Housing and Urban Affairs.