Advisory Committee on Small & Emerging Companies Submits Recommendations to SEC

ACSEC September 2015The Advisory Committee on Small & Emerging Companies (ACSEC) convened today (September 23, 2015), submitting their recommendations on three different areas regarding securities regulations.

The three items include:

  • Modernizing Rule 147 under the Securities Act of 1933 (impacting intrastate investment crowdfunding)
  • Expanding Simplified Disclosures for Smaller Issuers
  • Issues Pertaining to the Regulation of Finders and Other Intermediaries in Small Business Capital Formation Transactions

Each recommendation was discussed, some with modification, prior to voting on approval.

While the Commission takes under consideration recommendations forthcoming from ACSEC, there are no rules regarding a formal response nor requirement to abide by recommendations.

See the published draft documents below.

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