SEC Announces New Small Business Capital Formation Advisory Committee Members

At today’s meeting of the Small Business Capital Formation Advisory Committee, the Securities and Exchange Commission announced the appointment of two new members to the Committee:

• Kesha Cash, Founder and General Partner, Impact America Fund
• Sue Washer, President and CEO, Applied Genetic Technologies Corporation (Nasdaq:  AGTC)

The new members were appointed following the resignations of Terry McNew, former President and CEO of Mastercraft Boat Holdings, and Karen Mills, President of MMP Group Inc.

“Kesha and Sue each bring a wealth of expertise and fresh perspectives regarding capital raising for emerging companies, and they will be valuable additions to our outstanding Committee,” said Martha Miller, the SEC’s Advocate for Small Business Capital Formation and Committee Member.  “We will miss Terry and Karen, and we thank them for their service and commitment to supporting small businesses and their investors.”

In addition, the Committee recently welcomed Melanie Senter Lubin, Maryland Securities Commissioner, as the representative of the North American Securities Administrators Association, and William Manger, Associate Administrator for the Office of Capital Access, as the representative of the U.S. Small Business Administration, each of whom was appointed by their respective organization to serve in non-voting capacities.

The 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 virtually today, August 4, to focus on how capital markets are serving underrepresented founders.  The meeting takes place from 10 a.m. through 3 p.m. ET and is webcast live on the Commission’s website.