Washington, D.C. - Today Congressman Tom Emmer (MN-06) issued the following statement applauding the Securities and Exchange Commission’s (SEC) continued efforts to improve the trading environment for small and emerging growth companies. Last week, the SEC invited market participants to offer solutions to help with “thinly traded securities,” while highlighting one such idea to concentrate liquidity for emerging growth companies onto venture exchanges, as Congressman Emmer’s Main Street Growth Act proposes to.
The Main Street Growth Act (H.R. 2899) would enable the SEC to provide for the creation of “venture exchanges,” which would help small and emerging growth companies gain access to the capital they need to grow and succeed. As Initial Public Offerings (IPOs) slow, new solutions are required to ensure public access to capital growth opportunities that will benefit new businesses as well as individual investors.
The Main Street Growth Act passed the House Financial Services Committee unanimously last Congress. The bill also passed the House of Representatives by a bipartisan voice vote.
"I am encouraged to see the Securities and Exchange Commission take the initiative to aggregate proposals which will assist small and medium-sized companies in the marketplace. I hope Congress will again consider and pass the Main Street Growth Act so we can expand public access to new startups and support American’s entrepreneurial spirit." said Emmer.
Read the text of the Main Street Growth Act here.
Read the SEC's full statement here.