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SEC Announces Agenda for February 15 Meeting of the Advisory Committee on Small and Emerging Companies


Washington D.C., Feb. 8, 2017 —

The Securities and Exchange Commission today announced the agenda for the February 15 meeting of its Advisory Committee on Small and Emerging Companies.  The committee will discuss secondary market liquidity for Regulation A companies and reporting companies not listed on an exchange, and explore why more companies may be choosing to stay private.  It also will consider recommendations on corporate board diversity and on the treatment of so-called “finders” that assist companies in capital raising activities.

The February 15 meeting will begin at 9:30 a.m. in the multipurpose room at the SEC’s headquarters at 100 F Street, N.E., Washington, D.C., and is open to the public.  It will be webcast live on the SEC’s website and archived on the website for later viewing. 

The committee provides a formal mechanism for the SEC to receive advice and recommendations on privately held small businesses and publicly traded companies with a market capitalization less than $250 million.

Members of the public who wish to provide their views on the matters to be considered by the committee may submit comments electronically or on paper.  Please submit comments using one method only.  Information that is submitted will become part of the public record of the meeting.

Electronic submissions:

Use the SEC’s Internet submission form or send an e-mail to

Paper submissions:

Send paper submissions to Brent Fields, Secretary, Securities and Exchange Commission, 100 F Street, N.E., Washington, D.C. 20549-1090.

All submissions should refer to File Number 265-27, and the file number should be included on the subject line if e-mail is used.


9:30 a.m.

Co-Chairs Call Meeting to Order

Introductory Remarks by Acting Chairman Piwowar and Commissioner Stein

9:50 a.m.

Secondary Market Liquidity for Regulation A Tier 2 and Non-Exchange Listed Companies

  • Presentations
    • Richard I. Alvarez, Law Office of Richard I. Alvarez; Vice-Chair of the State Regulation of Securities Committee of the American Bar Association
    • Martin A. Hewitt, Attorney at Law; Chair of the State Regulation of Securities Committee of the American Bar Association
  • Committee Discussion

11:30 a.m.

Broker Dealer Status of Finders

  • Committee Discussion of Potential Recommendation

12:15 p.m.

Lunch Break

1:45 p.m.

Why Are More Companies Staying Private?

  • Presentations
    • James A. Hutchinson, Partner, Goodwin Procter LLP
    • Glen Giovannetti, Global Biotechnology Sector Leader, Ernst & Youngo   
    • Yanev Suissa, Founder, SineWave Ventures
  • Committee Discussion

3:15 p.m.

Finalize Board Diversity Recommendation

3:30 p.m.



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