SEC Announces New Small Business Advocate Office
In a public statement issued on September 13, the Securities and Exchange Commission (“SEC”) announced its nationwide search for the agency’s first advocate for small business capital formation. The selected candidate of this new position will support small businesses and their investors, as well as offer assistance and conduct outreach to address their concerns and suggest improvements to the regulatory environment. In addition, the advocate will have to establish and supervise a new SEC office, the Office of the Advocate for Small Business Capital Formation.
The small business advocate will be selected by and report to the SEC chairman and commissioners.