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Hensarling Applauds SEC for Easing Regulations on Small Companies

Washington, Jun 28 -

WASHINGTON – House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued this following statement today after the Securities and Exchange Commission (SEC) passed a rule easing regulations by expanding the definition of “smaller reporting company:”

In a challenging global economy, our capital markets are the key to long-term economic growth. I am pleased with a number of actions the SEC took today to better tailor regulations so that Main Street businesses can access capital and deploy it in ways that will grow jobs and enhance innovation. In particular, the Commission’s vote today to expand the “smaller reporting company” definition demonstrates the Commission’s desire to help make going public more attractive for small businesses. Nonetheless, to effectively tailor regulations for smaller and emerging companies, it is essential for the Commission to explore other pro-growth reforms to open our public markets, including addressing the accelerated filer threshold that imposes disproportionate compliance costs on companies that can’t operate with such a burden.sec