Securities and Exchange Commission (SEC), Office of the Small Business Capital Formation Advocatewill host a roundtable today in partnership with the SEC’s Division of Corporate Finance to discuss the initial public offering (IPO) ecosystem.
Official “Rethinking the Rulebook: Modernizing the IPO Process and Access to Public Capital” The initiative is part of the Commission’s efforts: “Make IPOs Great AgainAfter years of neglect.
As everyone should know, most promising young companies aim to remain private for as long as possible. This is because policymakers follow a regulation-on-rule approach with oversight of public firms. The costs of compliance continue to rise while the benefits diminish. In effect, it has become a hidden tax on the economy. The old thesis that government officials are a hammer in search of nails, trying to justify their existence by diminishing returns to consumers, applies here.
There’s also an ocean of money willing to jump to the head of the queue for capital gains, willing to invest before a firm goes public — if it ever happens.
As policymakers try to save them from themselves, the loser in all this is once again the little guy, further widening the wealth gap.
Panelists for the session include:
- Beau Bohm, Managing Director, Global Co-Head of Equity Markets, Cantor Fitzgerald
- Joshua FordBonnie, Partner, Simpson Thacher & Bartlett
- Jamie Air Conditioning, General Counsel, NYSE
- Ryan Mitteness, Partner, Fenwick & West
- Daniel Zinn, General Counsel and Chief of Staff, OTC Markets Group
The session will be moderated by Courtney Haseley of the Solicitor’s office and Ted Yu of CorpFin.
The meeting will start at 14.00 today and live broadcast on the SEC’s website.
