Congressmen Carney, Duffy, Quigley, and Crenshaw Introduce Bill to Expand Small Businesses' Voice at the SEC

Press Release

This week, Congressmen John Carney (D-DE), Sean Duffy (R-WI) Mike Quigley (D-IL), and Ander Crenshaw (R-FL) introduced H.R. 3784, the SEC Small Business Advocate Act of 2015. This legislation would establish an Office of Small Business Advocate at the Securities and Exchange Commission (SEC).

Small businesses are a driver of economic growth and job creation throughout the United States. Though many regulators and lawmakers take into account their needs, small businesses still face challenges communicating with regulators on a wide range of issues. To address this problem, the SEC Small Business Advocate Act establishes an Office of the Advocate for Small Business Capital Formation and formalizes a Small Business Advisory Committee. This office would open a clear avenue of communication to SEC leadership on issues affecting small businesses by maintaining a designated representative to advocate on their needs. It will also serve as a source for new concepts and innovation in the small business marketplace. This legislation will not only improve the regulatory process for small business owners, but also for the investors and consumers that depend on them.

Congressman John Carney said, "Every American relies on small business -- from employment to shopping needs. Considering the crucial role they play in our economy and job creation, providing resources for their success is a no-brainer. The SEC has done an admirable job supporting and advancing the priorities of small businesses. This legislation will help provide the SEC with more tools to understand their needs and concerns. I'm proud to join Congressmen Duffy, Quigley, and Crenshaw in introducing this bipartisan legislation to ensure that small businesses continue to have a clear voice at the SEC."

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