Could the SEC Help Small Business?
H.R. 1312 could enlarge the SEC’s purview to small businesses
Greetings, fellow Resistbotters! One issue being considered by Congress this week is House Bill 1312 — the Small Business Capital Formation Enhancement Act, sponsored by Representatives Bruce Poliquin (R-ME) and Juan Vargas (D-CA). This bill passed the House last year, but was never considered by the Senate.
The bill requires the SEC to review recommendations from a joint government/business forum that focuses on the ways small businesses gain access to the capital they need. The SEC would be required to review the recommendations and issue a public statement to disclose any actions it intends to take.
How does this affect you?
- This bill does one thing — requires the SEC to review recommendations from a government-industry forum and release an assessment of ways to help small business grow and to fuel economic growth.
- This bill does not require the SEC to act on these recommendations.
- The bill does force attention to small business and their needs — the tendency in the past has been for the SEC to address the needs of large corporations.
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