The Securities and Exchange Commission has released a report to Congress, consolidating policy recommendations stemming from its 44th Annual Small Business Forum. This comprehensive document provides an overview of the forum's proceedings, outlines the changes to the capital raising framework proposed by participants, and details the Commission’s responses to these recommendations.
The forum, convened on April 10, 2025, featured a diverse array of speakers who shared their broad perspectives on various approaches to capital raising, drawing from different backgrounds, geographical locations, and company life cycle stages. Discussions during the sessions notably focused on crucial topics such as early-stage capital raising, the specific needs of growth-stage companies and smaller funds, and the dynamics of small cap companies within the public markets.
By congressional mandate, the SEC’s Office of the Advocate for Small Business Capital Formation hosts this annual forum, which serves as a key platform for members of both the public and private sectors to offer feedback aimed at enhancing capital-raising policy. The Office expressed its gratitude to all speakers, participants, advisory planning group members, and SEC staff members for their contributions to the forum's success. For public access, video archives and a full transcript of the discussions are available online.