The SEC ought to review the recommendations of an annual government-industry forum on small business capital formation. That way the SEC can assess ways to help small businesses grow and fuel economic growth.
All this bill does is require the SEC to review the findings of a government-industry forum and announce what, if anything, it will do. It's doubtful that will lead to tangible actions that help small business.
This bill would require the Securities and Exchange Commission (SEC) to conduct an annual review of the government-business forum on small business capital formation. The forum is held each year to address the status of problems and programs related to small business capital formation.
The SEC would be required to review each of the forum’s findings and recommendations, then issue a public statement promptly after assessing disclose any actions it intends to take.
In-Depth: Sponsoring Rep. Bruce Poliquin (R-ME) introduced this bill to ensure that small businesses can access the capital they need to drive economic growth:
“The Small Business Capital Formation Enhancement Act will make it easier for local businesses in Maine, which might not be able to get bank loans, to access capital markets to get the money they need to grow, hire more workers, and expand our economy. Small businesses can’t grow without capital. This bill will give hardworking, local businesses the tools and support they need to grow and create jobs in our Second District.”
The House Financial Services Committee passed this bill by a vote of 55-1.
Media:
Summary by Eric Revell
(Photo Credit: Flickr user Boston Public Library)
Economy
Banking
