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U.S. Securities and Exchange Commission



Washington, D.C., Aug. 15, 2005 - The Securities and Exchange Commission's annual Small Business Capital Formation Forum will be held in conjunction with a meeting of the Commission's Advisory Committee on Smaller Public Companies, Sept. 19-20, 2005 in San Francisco.

"The Advisory Committee is considering different regulatory requirements for firms below an agreed upon threshold of market capitalization, or perhaps some other measurement of size," said SEC Chairman Christopher Cox. "As we work to protect investors, I expect that the SEC and the Public Company Accounting Oversight Board will give significant weight to the findings and recommendations of the Advisory Committee, and that the policy-making process will benefit from the discussions in San Francisco. I have urged the Advisory Committee's leaders to conduct their work with a view to protecting investors, as they consider whether the costs imposed by the current securities regulatory system for smaller companies are proportionate to the benefits. I look forward to full reports on all aspects of the San Francisco meetings."

The annual Capital Formation Forum will be Monday, September 19. The Advisory Committee meeting begins Monday and continues Tuesday. Both events are at the Hyatt at Fisherman's Wharf.

The SEC plays host to the annual Forum under a 1980 Congressional mandate to give smaller company representatives a chance to communicate their views on capital formation to senior government officials.

The SEC organized the Advisory Committee on Smaller Public Companies in March 2005 to examine the impact of the federal securities laws on smaller companies, including the impact of the Sarbanes-Oxley Act of 2002, and to recommend action. The Committee's final report is due in April 2006.

Roundtable sessions will be held Monday morning at the concurrent meetings. Members of the Advisory Committee will participate in the roundtable discussions, which will include discussion of recommendations that the Advisory Committee might make to the Commission.

The Forum schedule includes breakout group sessions to be held Monday afternoon to develop recommendations to improve small business capital formation through legislation, regulation, and private action.

Forum recommendations will be presented to the Advisory Committee Tuesday morning, and considered in drafting the final report to the SEC.

All Advisory Committee meetings will be open to the public and broadcast on the Internet at www.sec.gov. Forum sessions include both public and private meetings. All Forum attendees must pre-register with the SEC.

The SEC will publish the Forum's and Advisory Committee's final agendas in September. Registration for the Forum and more information are available by calling the SEC Office of Small Business Policy at (202) 551-3460 or visiting the SEC's Forum webpage at http://www.sec.gov/info/smallbus/sbforum.shtml.

Suggested topics for discussion at the roundtable sessions or recommendations for the breakout groups should be e-mailed to the SEC Office of Small Business Policy at smallbusiness@SEC.gov or mailed to the SEC at 100 F Street, N.E., Washington, D.C. 20549-3628.


Modified: 08/15/2005