SEC Office of the Advocate for Small Business Capital Formation: Access to Capital Remains a Major Concern
The
Securities and Exchange Commission (SEC),
Office of the Advocate for Small Business Capital Formation (OASB), has published its annual report and there is plenty of interesting information included in the document.
The OASB is a relatively new entity having been mandated by Congress in 2016. The first Advocate,
Martha Legg Miller, stepped into the role in January 2019 (during a government shutdown). The Advocate was created in recognition that one size does not fit all and smaller firms, the engine of the US economy, struggle to raise growth capital. In the past two years, the OASB has been a solid voice for improving access to capital by updating existing rules and highlighting areas that need to be addressed by the Commission.