The Securities and Exchange Commission (SEC) Small Business Capital Formation Advisory Committee, has scheduled a meeting for Friday, April 30, 2021, from 10:00 a.m. to 2:30 p.m. (ET). This will be a virtual meeting and the event will be open to the public via a live stream on the SEC website.
As of today, an official agenda has not been posted but one should be forthcoming prior to the event.
In the past, the Committee has advocated on behalf of improvements to the exempt offering ecosystem – a sector of finance that is vital to providing access to capital for entrepreneurs and early stage ventures. Comments by the Committee were taken into consideration by the Commission in improving crowdfunding exemptions like Reg CF and Reg A+ – both of which recently saw their funding caps increased. In March, Reg CF’s cap jumped from $1.07 million to $5 million reinvigorating the sector while providing more hope for ongoing sustainability. Reg A+ saw its cap boosted from $50 million to $75 million. While significant improvements were implemented, more can always be pursued.
Typically, SEC Commissioners can be counted on to, at a minimum, make an appearance and deliver a statement at the meeting. As the new SEC Chairman Gary Gensler was recently sworn in, the meeting may provide additional insight into his opinion of capital formation, entrepreneurship as well as access to opportunity by smaller investors.