WASHINGTON--(BUSINESS WIRE)--The Small Business Investor Alliance (SBIA) is pleased to announce its support for the most recent efforts of the House Financial Services Committee to improve small business access to U.S. capital markets. In a letter delivered yesterday to the Honorable SEC Chairman Mary Jo White, two leaders on the House Financial Services Committee questioned the appropriateness of over-burdensome regulations on private fund advisors, seeking written explanations on how the current rules for private equity funds enhance the stated missions of the SEC to protect investors and facilitate access to capital markets.
“Congressional leaders are voicing their concerns about the regulatory burdens on private equity. These burdens are diverting resources away from growing the economy and redirecting them toward regulatory compliance. This letter clearly and compellingly brings to light the inefficiencies and waste inherent to the current SEC regulations for private funds,” stated Brett Palmer, President of the SBIA. “We wholeheartedly agree with the points posed by Congressman Jeb Hensarling (R-TX), Chairman of the House Financial Services Committee and Representative Scott Garrett (R-NJ), Chairman of the Subcommittee on Capital Markets and Government Sponsored Enterprises. As Chairman White has herself acknowledged, ‘private equity funds were not an underlying cause of the recent financial crisis,’ yet private fund advisors remain subject to the SEC’s burdensome and inflexible examination process, which does little to further the SEC goals of protecting investors and promoting financial stability.“
About the Small Business Investor Alliance:
The Small Business Investor Alliance (SBIA) is the premier organization of lower middle market private equity funds and investors. SBIA members provide vital capital to small and medium sized businesses nationwide, resulting in economic growth and job creation. SBIA has been playing a pivotal role in promoting the growth and vitality of the industry for more than 50 years.
For more information, visit www.sbia.org or call 202-628-5055.