The Securities and Exchange Commission (SEC) announced in a May 4 press release that it has appointed 14 new members to the Small Business Capital Formation Advisory Committee.
These members will serve four-year terms, filling vacancies that primarily came to be from the expiration of previous members' terms. SEC Chair Gary Gensler put an emphasis on the importance of small businesses, which employ a significant portion of America's workforce and make up greater than 99 percent of all businesses. Gentler said the committee's new members, including entrepreneurs, investors, and advisors, bring valuable new perspectives to the SEC.
“I thank the new members for agreeing to serve on the advisory committee, which plays an important role in our work to facilitate capital formation for companies of every size,” SEC Chair Gary Gensler said.
The committee's new members include individuals such as Wemimo Abbey, co-founder and CEO of Esusu; Stacey Bowers, professor at the University of Denver Sturm College of Law; and George Cook, co-founder and CEO of Honeycomb Credit, among others. Sue Washer and Donnel Baird, who are currently serving on the committee, will remain as their four-year terms have not yet expired. The committee also includes non-voting members appointed by the SEC's Investor Advocate, the North American Securities Administrators Association, and the Small Business Administration, along with an observer appointed by the Financial Industry Regulatory Authority.
The Small Business Capital Formation Advisory Committee offers advice and recommendations to the SEC on matters related to small businesses, such as smaller public companies. Its diverse membership, representing a range of entrepreneurs, investors, and advisers, backs up early-stage private companies and smaller size public companies, such as minority- and women-owned small businesses. Detailed information about the committee, as well as its members, and past meetings can be seen by the public on the committee's webpage.
