The Securities and Exchange Commission has outlined the Small Business Capital Formation Advisory Committee’s agenda for its Feb. 7 meeting.
The public can view the live session through the SEC website. Discussion topics will include alternative approaches to private company financing; the SEC’s February 2022 proposal regarding private fund advisers; and equity research’s role for smaller public companies and investors.
Additionally, the Committee is slated to explore revenue-based financing and other alternatives to traditional bank and venture capital (VC) funding for small and mid-size companies that have not gone public.
The panel’s afternoon session is expected to include an examination of the current availability of public company investment research prepared by broker-dealer firms, per the agenda, including the impact its availability has on smaller public companies liquidity; how the analysis reaches investors; and the value of that research for investors.
The Committee’s role is to provide advice and recommendations to the SEC regarding rules, regulations, and policy matters relating to small businesses. The Committee was established by the SEC Small Business Advocate Act of 2016 and meets quarterly.
The Committee succeeds the SEC’s former Advisory Committee on Small and Emerging Companies, whose term expired in 2017, according to the SEC.