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Agenda - Meeting of SEC Small Business Capital Formation Advisory Committee

Jan. 31, 2023

Location:   Public will be able to view on

Date:          Tuesday, February 7, 2023

Time:          10:00 a.m. – 3:30 p.m. (ET)

10:00   Call to Order; Introductory Remarks by Commissioners

10:15   Committee Members’ Outlook: Challenges and Opportunities for Small Businesses Raising Capital in 2023

10:40  Smaller Private Companies: Alternatives to Traditional Financing

The Committee will explore revenue based financing and other alternatives to traditional bank and VC funding for small and mid-size companies that have not gone public.  


11:40   SEC Proposal on Private Fund Reforms

In February 2022, the Commission proposed new rules and amendments related to the regulation of private fund advisers. The Committee will hear how the proposal may impact venture capital funds and engage in discussion about the proposal.


12:40   Executive Session and Lunch Break

1:45     Smaller Public Companies: The Role of Equity Research 

The Committee will discuss the current availability of public company investment research prepared by broker-dealer firms, including what impact its availability has on liquidity for smaller public companies, who uses and pays for the analysis, how that analysis reaches investors, including retail investors, and the value of that research for investors.


3:00     Parting Perspectives

As a number of Commission-appointed Committee members conclude their four-year terms, the Committee will discuss providing a letter to the Commission to express their parting recommendations.

3:30     Wrap-up and Adjournment

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