The SEC Small Business Capital Formation Advisory Committee (SBCFAC) has announced new members following the completion of the majority of members four-year terms.
The SBCFAC was created to provide the Commission with recommendations that support smaller firms, improve access to capital and mitigate onerous regulations that can undermine SMEs.
The reconstituted Committee includes two holdover members, Sue Washer, and Donnel Baird, as their terms have yet to expire.
Additionally, there are three non-voting members; the North American Securities Administrators Association (NASAA), the Small Business Administration (SBA), and an observer appointed by the Financial Industry Regulatory Authority (FINRA).
The new members are as follows:
- Wemimo Abbey – Co-Founder and CEO, Esusu; Los Angeles, CA
- Stacey Bowers – Professor, University of Denver Sturm College of Law; Of Counsel, 3Pillars Law PLLC; Denver, CO
- George Cook– Co-Founder and CEO, Honeycomb Credit; Pittsburgh, PA
- Vincent Cordero – Partner, Co-CEO and Chief Business Officer, Mucho Mas Media; Miami, FL
- Marcia Dawood – Venture Partner, Mindshift Capital; Charlotte, NC
- Bart Dillashaw – Founder, Enterprise Legal Studio; Omaha, NE
- Herbert Drayton III – Founder and Managing Partner, HI Mark Capital; Charleston, SC
- Erica Duignan– Founder and General Partner, Reign Ventures; New York, NY
- Diego Mariscal – CEO, Founder and Chief Disabled Officer, 2Gether-International; Washington, DC
- Laura Niklason – Founder, President, and CEO, Humacyte; Durham, NC
- Davyeon Ross – Co-Founder and President, ShotTracker; Overland Park, KS
- Jasmin Sethi – CEO and Founder, Sethi Clarity Advisors; Philadelphia, PA
- Aren Sharifi – Attorney, Kutak Rock LLP; Denver, CO
- Dennis Sugino – Founder, Kansa Advisory, LLC; Huntington Beach, CA
The previous Committee submitted a letter addressed to the Commission expressing its frustration with the SEC and its refusal to act on its many common-sense recommendations. It will be interesting to see if the new SBCFAC members will continue to support access to capital and opportunity for smaller investors.