February 2, 2023
SEC Small Business Capital Formation Advisory Committee to Meet Next Week
Earlier this week, the SEC’s Small Business Capital Formation Advisory Committee announced the agenda for its meeting to be held next Tuesday. The Committee will discuss alternative approaches to private company financing, the Commission’s February 2022 proposal regarding private fund advisers, and the role of equity research for smaller public companies and investors. The meeting will be open to the public via webcast on www.sec.gov. The announcement notes:
The Committee, which provides advice and recommendations to the Commission on rules, regulations, and policy matters relating to small businesses, will start the morning session by exploring revenue-based financing and other alternatives to traditional bank or venture capital funding for smaller private companies. The Committee will finish the morning session by discussing the Commission’s proposed new rules and amendments related to the regulation of private fund advisors and hear from invited panelists about how the proposal may impact early-stage venture capital funds.
In the afternoon session, the Committee will examine the current availability of public company investment research prepared by broker-dealer firms, including what impact its availability has on liquidity for smaller public companies, how the analysis reaches investors, and the value of that research for investors. Panelists will share market data and insights with the Committee.
– Dave Lynn