Middle-market companies may soon have a stronger voice within the Securities and Exchange Commission.
The U.S. House of Representatives on Tuesday passed the SEC Small Business Advocate Act of 2016. The bill would establish an Office of the Small Business Advocate at the SEC for small and midsize companies.
The legislation would also formalize a permanent Small Business Advisory Committee and bring the annual Government-Business Forum on Small Business Capital Formation under the authority of the newly formed office.
ACG applauded the House for passing the bill in a press release and urged the Senate to do the same.
“ACG calls on members of the Senate to pass the bill to ensure that small and middle-market companies—the engines of job growth—are top of mind with SEC regulators with respect to facilitating and encouraging capital formation, maintaining fair, orderly and efficient markets, and protecting investors,” said ACG Global President and CEO Gary LaBranche.