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SEC Commissioner Peirce Recommends Regulatory Improvements to Aid Small Businesses

"Bold action will be necessary so, in brainstorming solutions, we ought not to tether ourselves to our existing framework."
SEC Commissioner Hester M. Peirce
"Bold action will be necessary so, in brainstorming solutions, we ought not to tether ourselves to our existing framework."
SEC Commissioner Hester M. Peirce

SEC Commissioner Hester M. Peirce recommended modifying the regulatory framework for exempt securities offerings in order to help small businesses raise money.

Commissioner Peirce recommended issuing a micro-offering exemption for businesses looking to raise small amounts of capital. She suggested enacting the exemption on a pilot basis immediately in order to assist small businesses currently unable to operate due to COVID-19.

Ms. Peirce also raised several questions regarding the SEC's recent proposal concerning the Securities Act exemptive framework (see previous coverage) intended to expand availability and simplify raising capital. Ms. Peirce questioned whether the proposal provided sufficient help for small businesses.

Primary Sources

  1. SEC Statement, Hester M. Peirce: Remarks at Special Meeting of the SEC Small Business Capital Formation Advisory

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Individuals
Hester Peirce
Regulated Activities
Distribution Procedures
Sub-Activity
Private Placements; SA Section 4(a)(2)
Regulated Entities
Issuers of Securities
Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
SEC