SEC Announces Members of Small Business Capital Formation Advisory Committee
No fraud or misconduct is described in the SEC's announcement of the Small Business Capital Formation Advisory Committee, which was established to advise on small business capital formation rules and includes 15 appointed industry experts and non-voting representatives from regulatory bodies.
The SEC announced the formation of the Small Business Capital Formation Advisory Committee, replacing the expired Advisory Committee on Small and Emerging Companies. The committee comprises 15 voting members—including legal professionals, entrepreneurs, and investment leaders—and non-voting representatives from the SEC’s Small Business Advocate, Investor Advocate, NASAA, SBA, and FINRA. No fraud, financial penalties, or legal charges are mentioned; the committee’s sole purpose is to provide advisory input on regulations affecting small businesses and capital raising.
The Securities and Exchange Commission announced the inaugural members of the Small Business Capital Formation Advisory Committee, established under the SEC Small Business Advocate Act of 2016 to replace the expired Advisory Committee on Small and Emerging Companies. The committee includes 15 voting members such as Robert Fox of Grant Thornton, Sara Hanks of CrowdCheck, and Jeffrey Solomon of Cowen, representing legal, entrepreneurial, and investment expertise. Non-voting members include Martha Legg Miller, the SEC’s Advocate for Small Business Capital Formation, along with representatives from the Investor Advocate, the North American Securities Administrators Association, the Small Business Administration, and an observer from FINRA. The committee’s mandate is purely advisory, focused on providing recommendations to the SEC on rules and policies affecting small businesses and capital formation. No allegations of fraud, financial misconduct, enforcement actions, or monetary penalties are referenced in the announcement. The SEC leadership emphasized the value of the committee’s diverse perspectives in facilitating capital-raising opportunities for small- and medium-sized businesses. The first meeting was scheduled for May 6, 2019, at the SEC’s headquarters in Washington, D.C., marking a procedural and policy-oriented milestone, not a legal or enforcement event.
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- The Securities and Exchange Commission announced the inaugural members of the Small Business Capital Formation Advisory Committee
- The Committee will hold its first meeting on Monday, May 6, 2019, at the SEC’s headquarters in Washington, D.C.
- The Committee was established by the SEC Small Business Advocate Act of 2016
- The Committee 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 replaces the Advisory Committee on Small and Emerging Companies, whose term expired in 2017
- Chairman Jay Clayton and Commissioners Robert Jackson, Hester Peirce, and Elad Roisman said We are excited to have this important advisory Committee up and running
- Commission-appointed Committee members include include Robert Fox - National Managing Partner, Professional Standards Group, Grant Thornton LLP; Chicago, IL Carla Garrett - Corporate Partner, Potomac Law Group PLLC; Washington, DC Stephen Graham - Co-Chair, Fenwick & West LLP’s Life Sciences Practice; Seattle, WA Sara Hanks - CEO and Co-Founder, CrowdCheck, Inc.; Alexandria, VA Youngro Lee - CEO and Co-Founder, NextSeed; Houston, TX Brian Levey - Chief Business Affairs and Legal Officer, Upwork Inc.; Mountain View, CA Terry McNew - President and CEO, MasterCraft Boat Holdings; Vonore, TN Sapna Mehta - General Counsel & Chief Compliance Officer, Rise of the Rest Seed Fund; Associate General Counsel, Revolution; Washington, DC Karen Mills - President, MMP Group, Inc.; Boston, MA Catherine Mott - Founder and CEO of BlueTree Capital Group, BlueTree Allied Angels, and BlueTree Venture Fund; Pittsburgh, PA Poorvi Patodia - CEO and Founder, Biena Snacks; Allston, MA Jason Seats - Chief Investment Officer, Techstars; Austin, TX Jeffrey M. Solomon - Chief Executive Officer, Cowen, Inc.; New York, NY Hank Torbert - President, AltaMax, LLC; New Orleans, LA Gregory Yadley – Partner, Shumaker, Loop & Kendrick, LLP; Tampa, FL
- The Committee will also include the SEC’s Advocate for Small Business Capital Formation, Martha Legg Miller, and three non-voting members appointed by each of the SEC’s Investor Advocate, the North American Securities Administrators Association, and the Small Business Administration
- The Committee will also have an observer appointed by the Financial Industry Regulatory Authority
The Securities and Exchange Commission today announced the inaugural members of the Small Business Capital Formation Advisory Committee. The Committee will hold its first meeting on Monday, May 6, 2019, at the SEC’s headquarters in Washington, D.C. 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 replaces the Advisory Committee on Small and Emerging Companies, whose term expired in 2017. Chairman Jay Clayton and Commissioners Robert Jackson, Hester Peirce, and Elad Roisman said, “We are excited to have this important advisory Committee up and running. As the Commission continues to focus on facilitating capital-raising opportunities for small- and medium-sized businesses and expanding investment opportunities for retail investors, input and expertise from such an experienced and diverse set of companies, entrepreneurs, and investors will be invaluable.” Commission-appointed Committee members include: Robert Fox - National Managing Partner, Professional Standards Group, Grant Thornton LLP; Chicago, IL Carla Garrett - Corporate Partner, Potomac Law Group PLLC; Washington, DC Stephen Graham - Co-Chair, Fenwick & West LLP’s Life Sciences Practice; Seattle, WA Sara Hanks - CEO and Co-Founder, CrowdCheck, Inc.; Alexandria, VA Youngro Lee - CEO and Co-Founder, NextSeed; Houston, TX Brian Levey - Chief Business Affairs and Legal Officer, Upwork Inc.; Mountain View, CA Terry McNew - President and CEO, MasterCraft Boat Holdings; Vonore, TN Sapna Mehta - General Counsel & Chief Compliance Officer, Rise of the Rest Seed Fund; Associate General Counsel, Revolution; Washington, DC Karen Mills - President, MMP Group, Inc.; Boston, MA Catherine Mott - Founder and CEO of BlueTree Capital Group, BlueTree Allied Angels, and BlueTree Venture Fund; Pittsburgh, PA Poorvi Patodia - CEO and Founder, Biena Snacks; Allston, MA Jason Seats - Chief Investment Officer, Techstars; Austin, TX Jeffrey M. Solomon - Chief Executive Officer, Cowen, Inc.; New York, NY Hank Torbert - President, AltaMax, LLC; New Orleans, LA Gregory Yadley – Partner, Shumaker, Loop & Kendrick, LLP; Tampa, FL Committee members will also include the SEC’s Advocate for Small Business Capital Formation, Martha Legg Miller, and three non-voting members appointed by each of the SEC’s Investor Advocate, the North American Securities Administrators Association, and the Small Business Administration. The Committee will also have an observer appointed by the Financial Industry Regulatory Authority.
The Securities and Exchange Commission today announced the inaugural members of the Small Business Capital Formation Advisory Committee. The Committee will hold its first meeting on Monday, May 6, 2019, at the SEC’s headquarters in Washington, D.C. 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 replaces the Advisory Committee on Small and Emerging Companies, whose term expired in 2017. Chairman Jay Clayton and Commissioners Robert Jackson, Hester Peirce, and Elad Roisman said, “We are excited to have this important advisory Committee up and running. As the Commission continues to focus on facilitating capital-raising opportunities for small- and medium-sized businesses and expanding investment opportunities for retail investors, input and expertise from such an experienced and diverse set of companies, entrepreneurs, and investors will be invaluable.” Commission-appointed Committee members include: Robert Fox - National Managing Partner, Professional Standards Group, Grant Thornton LLP; Chicago, IL Carla Garrett - Corporate Partner, Potomac Law Group PLLC; Washington, DC Stephen Graham - Co-Chair, Fenwick & West LLP’s Life Sciences Practice; Seattle, WA Sara Hanks - CEO and Co-Founder, CrowdCheck, Inc.; Alexandria, VA Youngro Lee - CEO and Co-Founder, NextSeed; Houston, TX Brian Levey - Chief Business Affairs and Legal Officer, Upwork Inc.; Mountain View, CA Terry McNew - President and CEO, MasterCraft Boat Holdings; Vonore, TN Sapna Mehta - General Counsel & Chief Compliance Officer, Rise of the Rest Seed Fund; Associate General Counsel, Revolution; Washington, DC Karen Mills - President, MMP Group, Inc.; Boston, MA Catherine Mott - Founder and CEO of BlueTree Capital Group, BlueTree Allied Angels, and BlueTree Venture Fund; Pittsburgh, PA Poorvi Patodia - CEO and Founder, Biena Snacks; Allston, MA Jason Seats - Chief Investment Officer, Techstars; Austin, TX Jeffrey M. Solomon - Chief Executive Officer, Cowen, Inc.; New York, NY Hank Torbert - President, AltaMax, LLC; New Orleans, LA Gregory Yadley – Partner, Shumaker, Loop & Kendrick, LLP; Tampa, FL Committee members will also include the SEC’s Advocate for Small Business Capital Formation, Martha Legg Miller, and three non-voting members appointed by each of the SEC’s Investor Advocate, the North American Securities Administrators Association, and the Small Business Administration. The Committee will also have an observer appointed by the Financial Industry Regulatory Authority.