On the eve of the annual SEC Forum on Small Business Capital Formation, House Financial Services Committee Chair Jeb Hensarling is calling out the SEC to take action on promoting small business. In recent years the annual event at the SEC has become a more popular venue to discuss methods to aid small business – especially since this sector of the economy basically creates all new jobs. Some have labled the event as “Groundhog Day”; positive recommendations but little action. Hensarling states;
“Year in and year out the SEC has failed to act on many, if not most, of the recommendations provided by the Forum. In fact, a number of reforms contained in the bipartisan JOBS Act and other bipartisan bills passed by the Financial Services Committee are based on Forum recommendations that the SEC ignored. It’s not enough for the SEC to simply talk about promoting small business; it needs to take action – like Congress and our committee has done – on innovative ideas that will help small businesses and create jobs.”
With the Republicans taking control of both the House and Senate some people believe the SEC will take action quickly – and if not the elected officials will go on the offensive. Hensarling states, “the SEC should not ignore ideas” at this years forum.
In regards to Title III retail crowdfunding and Title IV Reg A +, expectations are that final rules will be released quite soon. Contingent upon the SEC’s approach, the fortune of SMEs may improve. Let’s see the final rules.
H/T Sam Guzik