Directing the Securities and Exchange Commission to Allow Certain Issuers to Be Exempt From Registration Requirements

Floor Speech

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Mr. Speaker, I thank Chairmen Hultgren and Hensarling, Ranking Member Waters, and Congressman Hollingsworth for working with me on this bipartisan legislation to improve our capital markets and help more small companies succeed.

As part of the JOBS Act, Congress directed the Securities and Exchange Commission to amend Regulation A to allow small companies to raise up to $50 million in offerings exempt from full SEC registration.

These amendments, known as Regulation A-Plus, exclude certain potential issuers, including Exchange Act
reporting companies.

As a result, thousands of companies that already meet the SEC's high disclosure requirements are ineligible to use Regulation A-Plus to cost-effectively raise the funds they need to grow and hire employees.

That is why I have introduced this legislation with Congressman Hollingsworth to allow SEC reporting companies access to Regulation A- Plus. It is a valuable pathway for small businesses to raise money in an efficient, public, and transparent manner.

I am committed to working with my colleagues on both sides of the aisle to ensure that Arizona's innovative small businesses have every opportunity to thrive, and I hope that Members will join us today in support of this bipartisan legislation.

Again, I thank Congressman Hollingsworth for working with me on this commonsense, bipartisan bill.

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