SEC Chair testifies before House, addresses AFFE

SEC ISSUE TRACKER

The Small Business Investor Alliance informs and educates its members on the issues that impact their ability to invest, and works to promote public policies that help small businesses gain access to the capital that is crucial to U.S. economic growth and American job creation. 

WASHINGTON, D.C. (May 7, 2021) — SEC Chairman Gary Gensler testified before the House Financial Services Committee in a hearing intended to examine the trading frenzy in GameStop and other stocks earlier this year. SBIA engaged Rep. Bill Huizenga (R-MI), the ranking member of the Capital Markets Subcommittee, to raise the AFFE issue during the hearing. With the retirement of Rep. Steve Stivers (R-OH), a leader on AFFE legislation last year, SBIA has been working closely with Rep. Huizenga’s staff and anticipate that he will take a lead role on AFFE during this Congress. In response to the question, Gensler admitted that he is not up to speed on AFFE, but committed to working with members to better understand the issue.

View the short exchange here >

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About the Small Business Investor Alliance (SBIA)

The Small Business Investor Alliance is the association of senior investment professionals focused on the lower middle market whose members represent the entire private capital ecosystem. It is an alliance for professional fellowship, business opportunities, innovation, regulatory expertise, and market data. SBIA works on behalf of its members as a tireless advocate for policies that promote competitive markets and robust domestic investment for growing small businesses. SBIA has been playing a pivotal role in promoting the growth and vitality of the private equity industry for over 60 years. For more information, visit www.SBIA.org or call (202) 628-5055.