WASHINGTON – U.S. Senate Committee on Small Business and Entrepreneurship Chair Mary L. Landrieu, D-La., is reaching out to small business owners to submit comments to the Securities and Exchange Commission (SEC) Advisory Committee on Small and Emerging companies. The committee will provide a formal mechanism through which the SEC can receive advice and recommendations specifically related to privately held small businesses and publicly traded companies with less than $250 million in public market capitalization.
“By simply clicking on a link, small businesses will be included in the conversation to help reduce regulatory burdens on small businesses and to help ease entrepreneurs’ constant struggle for capital,” Senator Landrieu said. “I encourage small businesses to become involved in this dialogue and help the SEC find solutions for our nation’s entrepreneurs.”
To send your comments, please click here.
According to the Securities and Exchange Commission, the committee will advice and consult with the Commission on the following issues:
• Capital raising through private placements and public securities offerings.
• Trading in the securities of small and emerging and small publicly traded companies.
• Public reporting requirements of such companies.
During the Wall Street Reform debate, Senator Landrieu along with Senator Kay Bailey Hutchinson, R-Texas, supported the Sarbanes Oxley 404(b) Exemption for Small Businesses; the amendment exempted smaller publicly traded companies from costly reporting requirements and from third party attestation for financial statements and internal financial controls of a company.