Press Release: SEC’s Focus on Capital Formation Will Expand Opportunity for All Americans
WASHINGTON – The American Securities Association (ASA) today sent a letter to the U.S. Securities and Exchange Commission (SEC) in strong support of the Commission’s efforts to promote small business capital formation while maintaining important investor protections. In the letter, ASA outlined its capital formation priorities and wrote in support of the Commission’s proposal to extend “testing-the-waters” in the initial public offering (IPO) process to all issuers.
“Chairman Clayton has been steadfast and purposeful in carrying out the SEC’s mission to promote capital formation while protecting investors, and the testing-the-waters proposal is another important step forward that will help more Americans share in the economic success of our country,” said ASA CEO Chris Iacovella. “We strongly support the SEC’s continued efforts to make it easier for businesses to access the public markets, and applaud Chairman Clayton’s leadership to expand opportunity for more retail investors.”
“When fewer companies go public, long-term economic growth is inhibited and Main Street investors have fewer opportunities to invest their hard-earned money in growing businesses,” Iacovella wrote in the letter. “So, we appreciate this latest effort to re-focus the SEC on improving the attractiveness of our public capital markets.”
To read the full letter, click here.