The Securities and Exchange Commission, Small Business Capital Formation Advisory Committee (SBCFAC), has scheduled a meeting for the end of this month on November 20, 2023.
The meeting will begin at 10:00 ET and will be open to the public via a live stream on the SEC website.
This will be the 3rd meeting of the new group of individuals populating the Committee. Members are selected from a wide range of groups all with the ambition to seek how access to capital and opportunity can be expanded from a regulatory perspective. SBCFAC was created to advocate on behalf of smaller firms as these entities tend to be either ignored or suffer under rules that are designed for larger firms.
The first meeting in June was more of an introduction to the new SBCFAC members, along with a discussion on future topics for the committee. The last meeting in September reviewed smaller VC funds and activity supporting early-stage firms, along with a discussion of alternative funding methods.
The Committee typically produces letters addressed to the Commission, providing perspective and advice on what policies or rules need to be adjusted. During this Commission, pretty much all of the recommendations have been ignored, leading some to describe the SEC as the anti-capital formation Commission.
The agenda for the meeting is not yet available but should be posted just prior to November 29th.