Political Quotes

“I appreciate the chairman's hard work on this. The mission of the Securities and Exchange Commission is to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. As part of that mission, the SEC was mandated by law to conduct an annual forum focusing on small business capital formation. For nearly a decade, the SEC Government-Business Forum on Small Business Capital Formation has highlighted the merger and acquisition broker proposal as one of its top recommendations to help small businesses. The MAB proposal would address securities regulation of business brokers and merger and acquisition advisers who are in the business of facilitating the purchase and sale of privately held small companies. This proposal would significantly reduce their Federal regulation compliance costs, which can initially exceed $150,000 per broker and, after that, cost $75,000 per additional year. However, the SEC has never acted on this, despite their recommendation. As we see more and more baby boomers retire, it has been estimated that $10 trillion--with a T--of equity is locked up into these small, family-owned typically privately held businesses. Today the Federal securities regulations require an M&A broker to be registered and regulated by the SEC and FINRA just like a Wall Street investment banker buying or selling publicly traded companies.…”