Small Business Capital Formation Advisory Committee
Feb. 27, 2024
The SEC Small Business Capital Formation Advisory Committee was established by the SEC Small Business Advocate Act of 2016, and is designed to provide a formal mechanism for the Commission to receive advice and recommendations on Commission rules, regulations and policy matters relating to small businesses, including smaller public companies. The Committee meets quarterly, and all meetings are open to the public. If you are interested in serving on the Small Business Capital Formation Advisory Committee, please email a letter of interest with applicable information about your relevant experience.
The Committee succeeds the SEC’s former Advisory Committee on Small and Emerging Companies, whose term expired in 2017.
Committee Materials
Committee Members
NAME |
COMPANY |
| Co-Founder and Co-CEO, Esusu; Los Angeles, CA | |
Founder and CEO, BlocPower LLC; Brooklyn, NY |
|
| Securities Administrator of the Washington State Securities Division; Olympia, WA | |
| Director, SEC Office of the Advocate for Small Business Capital Formation; Washington, DC | |
| Co-Founder and CEO, Honeycomb Credit; Pittsburgh, PA | |
| Partner, Co-CEO, and Chief Business Officer, Mucho Mas Media; Miami, FL | |
| Venture Partner, Mindshift Capital; Charlotte, NC | |
| Senior Vice President of the Office of Government Affairs, FINRA; Washington, DC | |
| Associate Administrator for the Office of Investment & Innovation; U.S. Small Business Administration Washington, DC |
|
| Founder, Enterprise Legal Studio; Omaha, NE | |
| Founder and Managing Partner, HI Mark Capital; Charleston, SC | |
| Chair, Founder & General Partner, Reign Ventures; New York, NY | |
| Founder, CEO, and Chief Disabled Officer, 2Gether-International; Washington, DC | |
| Founder, President, and CEO, Humacyte; Durham, NC | |
| Davyeon Ross | Assistant Secretary, Co-Founder and President, DDSports/ShotTracker Overland Park, KS |
| Secretary, Founder and CEO, Sethi Clarity Advisers; Philadelphia, PA | |
| Attorney, Kutak Rock LLP; Denver, CO | |
| Assistant Director and Chief Counsel of the Office of the Investor Advocate, U.S. Securities & Exchange Commission; Washington, DC | |
| Dennis R. Sugino | Founder, Kansa Advisory LLC; Huntington Beach, CA |
| Sue Washer | Vice Chair, Founder and Former CEO, Applied Genetic Technologies Corporation; Gainesville, FL |
*Committee members include the SEC’s Advocate for Small Business Capital Formation and three non-voting members appointed by each of the SEC’s Investor Advocate, the North American Securities Administrators Association (NASAA), and the Small Business Administration, as well as an observer appointed by the Financial Industry Regulatory Authority (FINRA).
Recommendations of the Small Business Capital Formation Advisory Committee
The Committee has adopted the following recommendations:
2024
2023
February 28, 2023
2022
October 13, 2022
August 2, 2022
May 6, 2022
February 10, 2022
2021
April 30, 2021
2020
November 9, 2020
August 4, 2020
May 8, 2020
2019
December 11, 2019
November 12, 2019
- Accredited Investor
- Retail Investor Access to Registered Closed-End Funds Investing in Private Funds
August 13, 2019
Previous Meetings
July 30, 2024
May 6, 2024
- Press Release
- Agenda
- Sunshine Act Notice
- Presentation: Dr. Melody Chang- Regulation Crowdfunding
- Webcast Archive (Part 1)
- Webcast Archive (Part 2)
- Transcript of Meeting (Morning)
- Transcript of Meeting (Afternoon)
February 27, 2024
November 29, 2023
- Sunshine Act Notice
- Press Release
- Agenda
- Transcript of Meeting
- Webcast Archive (Part 1)
- Webcast Archive (Part 2)
September 19, 2023
- Sunshine Act Notice
- Press Release
- Agenda
- Transcript of Meeting
- Presentation: Kwesi Quaye, Fairview Capital – Perspectives on Diverse and Emerging Manager Investing In Venture Capital and Private Equity
- Presentation: Karl Fooks, US Treasury – State Small Business Credit Initiative Equity Program
- Webcast Archive
June 14, 2023
- Sunshine Act Notice
- Press Release
- Agenda
- Transcript of Meeting
- Webcast Archive (Part 1)
- Webcast Archive (Part 2)
February 7, 2023
- Sunshine Act Notice
- Press Release
- Agenda
- Transcript of Meeting
- Damien Dwin Presentation - Alternatives to Traditional Financing
- Alpa Patel Presentation - Summary of SEC Proposal on Private Fund Reforms
- Amy Natterson Kroll Presentation - Public Company Research
- Webcast Archive (Part 1)
- Webcast Archive (Part 2)
October 13, 2022
- Sunshine Act Notice
- Press Release
- Agenda
- Entrepreneurial Ecosystems - Maryann Feldman, Arizona State University
- IPO Overview - Matthew Toole, Refinitive
- Webcast Archive (Part 1)
- Webcast Archive (Part 2)
August 2, 2022
May 6, 2022
February 10, 2022
November 16, 2021
September 27, 2021
April 30, 2021
- Meeting Notice
- Sunshine Act Notice
- Press Release
- Agenda
- Transcript of Meeting
- Webcast Archive
- Video: Investing in the Underrepresented: Excerpts from 2020 Small Business Advisory Committee meetings
- Presentation: Office of the Advocate for Small Business Capital Formation – Data on Capital Access for Underrepresented Founders
- Small and Emerging Fund Terminology “Cheat Sheet”
January 29, 2021
- Meeting Notice
- Sunshine Act Notice
- Press Release
- Agenda
- Webcast Archive
- Transcript of Meeting
- Presentation: Office of the Advocate for Small Business Capital Formation - Overview of FY 2020 Annual Report
- Presentation: Cass Sanford, OTC Markets Group, on Pulse of the Public Markets
- FY 2020 Annual Report of the Office of the Advocate for Small Business Capital Formation
November 9, 2020
August 4, 2020
May 8, 2020
- Meeting Notice
- Sunshine Act Notice
- Agenda
- Presentation: William Manger, U.S. Small Business Administration, Paycheck Protection Program (PPP) Report: Second Round
- Presentation: Office of the Advocate for Small Business Capital Formation - Overview of SEC’s COVID-19 Crowdfunding Relief and Capital Formation Proposal
- Webcast Archive
- Transcript of Meeting
April 2, 2020 (video conference)
February 4, 2020
- Meeting Notice
- Sunshine Act Notice
- Press Release
- Agenda
- Presentation: Office of the Advocate for Small Business Capital Formation - Overview of FY 2019 Annual Report
- Presentation: PitchBook - The Venture Climate
- Presentation: PitchBook - NVCA Venture Monitor Datagraphic
- Presentation: PitchBook - Private Markets Guide
- Presentation: Mojo by Darnell Smith
- Presentation: KCRise Fund by Darcy Howe
- Presentation: Allos Ventures by John McIlwraith
- Presentation: VC Fund Definition - Submission from Committee Members Sapna Mehta and Jason Seats
- Webcast Archive
- Transcript of Meeting
December 11, 2019, 11:00 a.m. (Telephone Meeting)
November 12, 2019
- Press Release
- Meeting Notice
- Sunshine Act Notice
- Agenda
- Presentation: Kauffman Foundation: Access to Capital for Entrepreneurs
- Presentation: John Finley, Blackstone - Retail Access to Private Markets
- Additional Materials Circulated: Federal Reserve of New York - Small Business Credit Survey
- Webcast Archive
- Transcript of Meeting
August 13, 2019
- Press Release
- Meeting Notice
- Sunshine Act Notice
- Agenda
- Presentation: Matt Swartz, Pillsbury Winthrop Shaw Pittman, LLP - Middle Market M&A: Proposed Changes to Reg S-X Rule 3-05
- Presentation: Bill Korn, MTBC - Comments on Proposal to Amend Rules 3-05 and 8-04
- Presentation: Background on Proposed Amendments to the Accelerated Filer and Large Accelerated Filer Definitions Proposing Release
- Presentation: Charles Crain, National Association of Manufacturers - Proposed Amendments to the Accelerated Filer and Large Accelerated Filer Definitions Proposing Release
- Presentation: Mike Raab, Ardelyx, Inc. - Small Public Biotechs and Costs of Compliance with Sarbanes-Oxley Section 404(b)
- Webcast Archive
- Transcript of Meeting
May 6, 2019
Public Comments
Last Reviewed or Updated: Aug. 28, 2024