The SEC Office of the Advocate for Small Business Capital Formation ("OASB") outlined its key goals and strategies through 2025.
In its Strategic Plan 2021-2025, the OASB plans to:
- seek feedback from small businesses and investors in small businesses on related capital raising issues by (i) engaging in outreach efforts with diverse audiences and (ii) hosting the annual SEC Small Business Forum;
- reduce barriers to entry in the capital markets and enhance compliance by educating small businesses and investors on capital raising rules through (i) the development of accessible educational materials and (ii) the optimization of content and delivery on the basis of shifts in market needs and preferences;
- engage with stakeholders to resolve issues encountered by small businesses and their investors in dealing with the SEC and self-regulatory organizations;
- assess capital raising data to determine any trends and gaps in capital funding; and
- foster a mission-driven team to promote diverse perspectives by (i) advancing diversity, equity and inclusion in all OASB operations and (ii) cultivating an OASB staff culture of "connectivity, collegiality and collaboration."
Commentary
In order to help small businesses raise capital, the SEC is going to have to reduce the burden of relevant regulation (and accept that some degree of investor risk may come along with that).
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