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SEC Meeting on Feb. 1 on Small and Emerging Companies; Agenda; and Chairman Walter's Welcoming Remarks

The purpose of the meeting was for the SEC to consider the following:

  • Recommendations as to trading spreads on smaller exchange-listed companies (in particular, whether the interval between ticks should be increased to allow more dealer profit with the aim of encouraging market-making in such companies),
  • Creation of a separate U.S. equity market limited to sophisticated investors for small and emerging companies, and
  • Disclosure rules for smaller reporting companies.

In the opening remarks, SEC Chairman Walter stated that to support the SEC's attempts at enhancing investor protection and capital formation, the agency was seeking "thoughtful input by all market participants, including the small and emerging business community."

9:30 a.m.

Opening Remarks

  • Elisse B. Walter, SEC Chairman
  • M. Christine Jacobs and Stephen M. Graham, Advisory Committee Co-Chairs
  • Lona Nallengara, Acting Director of SEC Division of Corporation Finance
10:15 a.m.

Discussion and Consideration of Recommendations and Committee Statement:

  • Recommendation with regard to increasing tick sizes for securities of smaller companies traded on U.S. securities markets.
  • Recommendation with regard to encouraging the creation of a new exchange for small and emerging companies.
  • Recommendation with regard to expansion of Commission rules providing for scaled disclosure and other requirements for small public companies.
  • Statement of the Committee's opinion with regard to disclosure requirements that are outside of the scope of the Commission's mission.
Noon

Lunch
1:15 p.m.

Continue Discussion Consideration of Recommendations/Committee Statement
3 p.m.

Discussion of Next Steps/Closing Comments
3:30 p.m.

Meeting Concludes

Click here to view speech in full (links externally to SEC website).See also: Comments Received - File No. 265-27; Draft Committee Recommendations and Statement.

Tags

Regulated Activities
Meetings Distribution Procedures
Sub-Activity
Private Placements; SA Section 4(a)(2)
Regulated Entities
Issuers of Securities
Sub-Entity
Smaller and EGC Companies, SEC-Registered Issuers
Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
SEC