3.0.0 2867 2023-01-11T13:33:07Z 2023-01-11T13:33:07Z Senate S 2016-04-27 114 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Hearings by 2016-06-14T13:00:00Z Referred to 2016-04-27T21:14:31Z SEC Small Business Advocate Act of 2016 114 3784 HR 2016-12-16 Became Public Law No: 114-284. Related bill CRS Small Business Capital Formation Enhancement Act 114 4168 HR 2016-02-03 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 361. Related bill CRS Financial Services and General Government Appropriations Act, 2017 114 5485 HR 2016-07-12 Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 557. Related bill CRS Financial CHOICE Act of 2016 114 5983 HR 2016-12-20 Placed on the Union Calendar, Calendar No. 693. Related bill CRS Creating Financial Prosperity for Businesses and Investors Act 114 6427 HR 2016-12-06 Received in the Senate. Related bill CRS 2016-06-14 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Committee 2016-04-27 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2016-04-27 Introduced in Senate IntroReferral 10000 9 Library of Congress H001069 Sen. Heitkamp, Heidi [D-ND] Heidi Heitkamp D ND N H001041 Sen. Heller, Dean [R-NV] Dean Heller R NV 2016-04-27 True P000595 Sen. Peters, Gary C. [D-MI] Gary Peters D MI 2016-04-27 True M001169 Sen. Murphy, Christopher [D-CT] Christopher Murphy D CT S. 2016-09-29 False Finance and Financial Sector Administrative law and regulatory procedures Advisory bodies Business investment and capital Commerce Corporate finance and management Economic performance and conditions Executive agency funding and structure Financial services and investments Minority and disadvantaged businesses Securities Securities and Exchange Commission (SEC) Small business Women in business Finance and Financial Sector 00 2016-04-27 Introduced in Senate 2016-05-09T19:29:27Z SEC Small Business Advocate Act of 2015

This bill amends the Securities Exchange Act of 1934 to establish within the Securities and Exchange Commission (SEC) an Office of the Advocate for Small Business Capital Formation.

The Advocate for Small Business Capital Formation shall:

  • assist small businesses and small business investors in resolving significant problems they may have with the SEC or with self-regulatory organizations;
  • identify areas in which such businesses and investors would benefit from changes in SEC regulations or the rules of such organizations;
  • identify problems that small businesses have with securing access to capital, including any unique challenges faced by minority-owned and women-owned small businesses;
  • analyze the potential impact on such businesses and investors of proposed SEC regulations and proposed rules that are likely to have a significant economic impact on small businesses and small business capital formation;
  • conduct outreach to such businesses and investors to solicit views on relevant capital formation issues;
  • propose to the SEC changes in its regulations or orders, and propose to Congress legislative, administrative, or personnel changes, to mitigate problems identified and to promote the interests of such businesses and investors;
  • consult with the Investor Advocate on such proposals and advise the Investor Advocate on small business-related issues; and
  • be responsible for planning, organizing, and executing the annual Government-Business Forum on Small Business Capital Formation.

The bill also establishes the Small Business Capital Formation Advisory Committee, which shall provide the SEC with advice on SEC rules, regulations, and policies regarding its mission of protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation, as they relate to:

  • capital raising by emerging, privately held small businesses and publicly traded companies with less than $250 million in public market capitalization through securities offerings;
  • trading in the securities of such businesses and companies; and
  • public reporting and corporate governance requirements of such businesses and companies.

The SEC shall assess the Committee's recommendations and disclose any action it intends to take with respect to such recommendations.

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SEC Small Business Advocate Act of 2016 Display Title SEC Small Business Advocate Act of 2016 Official Title as Introduced A bill to amend the Securities Exchange Act of 1934 to establish an Office of the Advocate for Small Business Capital Formation and a Small Business Capital Formation Advisory Committee, and for other purposes. Introduced in Senate IS Short Titles as Introduced SEC Small Business Advocate Act of 2016 Introduced in Senate 2016-04-27T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s2867is/xml/BILLS-114s2867is.xml 2016-06-14 Committee on Banking, Housing, and Urban Affairs. Hearings held. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.