SEC Advisory Committee on Smaller Public Companies Solicits Public Input on Ways to Improve the Current Regulatory System for Smaller Companies
FOR IMMEDIATE RELEASE
Washington, D.C., Aug. 2, 2005 The SEC Advisory Committee on Smaller Public Companies today published a series of questions to solicit public input from investors and companies on ways to improve the current regulatory system for smaller companies and to examine the impact of the Sarbanes-Oxley Act of 2002.
At the Committee’s request, the SEC is posting the Committee’s questions on the SEC Web site at http://www.sec.gov/cgi-bin/acspc-questions and also publishing a release containing the questions. Interested parties are encouraged to respond by Aug. 31, 2005, either on the SEC’s Web site or by sending responses in the manner outlined in the Web site posting and the release. The Committee will consider this information in making its recommendations.
“The Committee has done an outstanding job identifying vital areas for discussion and potential enhancement of the regulatory framework for smaller public companies,” said SEC Acting Chairman Cynthia A. Glassman. “While these are the Committee’s questions to assist their work, the Commission strongly supports the Committee’s efforts.”
Division of Corporation Finance Director Alan L. Beller said, “The Committee is committed to enhancing the regulatory environment for smaller public companies. Seeking public input from all interested participants is an important step in that process.”
The SEC established the Advisory Committee in December 2004 to examine the impact of federal securities laws on smaller public companies, with a view to assuring that the costs and burdens of regulation are commensurate with the benefits to investors and the public. The Co-Chairs of the Committee are Herbert S. Wander and James C. Thyen. The Committee will develop recommendations for the SEC and issue a final report by April 2006.