SIFMA and Partners Make Recommendations for Reversing Decline in IPOs, Expanding America’s Public Capital Markets

Washington, DC, April 26, 2018 — SIFMA, along with a host of partner organizations, issued a new report today offering recommendations for strengthening U.S. public capital markets by helping more companies go and stay public.

“Our capital markets are the envy of the world and a critical source of financing for both domestic and foreign businesses and governments, particularly small and mid-sized businesses, providing 65% of total funding for economic activity in the U.S. Unfortunately, regulatory burdens and antiquated laws are unduly hampering capital formation for these businesses generally and may also be reducing investors’ access to investment opportunities,” Kenneth E. Bentsen, Jr., SIFMA president and CEO. “As they have for the past few years, SIFMA members believe policymakers should continue to reassess existing regulations to allow more businesses to readily access U.S. capital markets while maintaining important protections for investors.”

The report, titled ‘Expanding the On-Ramp: Recommendations to Help More Companies Go and Stay Public’ lays out specific recommendations, which fall into five categories:

• Enhancing the JOBS Act
• Encouraging more research of emerging growth companies (EGCs) and other small public companies
• Improving certain corporate governance, disclosure, and other regulatory requirements
• Financial reporting
• Tailoring equity market structure for small public companies

Motivated by a shared concern that the decline in the number of U.S. public companies has inhibited opportunities for American families and businesses, the coalition of groups involved with the report are:  SIFMA, U.S. Chamber of Commerce, American Securities Association, Biotechnology Innovation Organization, Equity Dealers of American, TechNet, Nasdaq and National Venture Capital Association.

The full paper can be found here: https://www.sifma.org/resources/submissions/expanding-the-on-ramp-recommendations-to-help-more-companies-go-and-stay-public/

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About SIFMA

SIFMA is the voice of the U.S. securities industry. We represent the broker-dealers, banks and asset managers whose nearly 1 million employees provide access to the capital markets, raising over $2.5 trillion for businesses and municipalities in the U.S., serving clients with over $20 trillion in assets and managing more than $67 trillion in assets for individual and institutional clients including mutual funds and retirement plans. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit http://www.sifma.org.