An Act To amend the Securities Exchange Act of 1934 to require the Advocate for Small Business Capital Formation to provide educational resources and host events to promote capital raising options for traditionally underrepresented small businesses, and for other purposes.
About This Bill
Passed
Latest Action · May 31, 2023
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Promoting Opportunities for Non-Traditional Capital Formation Act
This bill expands the functions of the Securities and Exchange Commission's Office of the Advocate for Small Business Capital Formation.
Specifically, the office must (1) provide educational resources and host events to promote capital-raising options for underrepresented small businesses, businesses in rural areas, and businesses affected by natural disasters; and (2) meet annually with representatives of state securities commissions to discuss opportunities for collaboration and coordination.
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