SEC Seeks Candidates for Small Business Capital Formation Advisory Committee

The Securities and Exchange Commission is seeking candidates to fill a limited number of vacancies on the agency's Small Business Capital Formation Advisory Committee, which provides advice and recommendations to the Commission on rules, regulations, and policy matters relating to small businesses, including smaller public companies.

The committee was established by the SEC Small Business Advocate Act of 2016. Consistent with statutory requirements, committee members represent a diverse spectrum of leaders, investors, and advisors who work with early-stage private companies and smaller public companies.

The committee advises and consults with the Commission on rules, regulations, and policies as they relate to:

• Capital raising by emerging, privately held small businesses and publicly traded companies with less than $250 million in public market capitalization;
• Trading in the securities of emerging companies and smaller public companies; and
• Public reporting and corporate governance requirements of emerging companies and smaller public companies.

"The Small Business Capital Formation Advisory Committee serves the important function of advising the Commission on achieving its three-part mission," said SEC Chairman Paul S. Atkins. "I am grateful to the committee for elevating the voices of America's entrepreneurs. I look forward to welcoming new members and continuing to work with current members to improve pathways for small businesses to obtain the capital that they need to grow their companies in both the private and public markets."

Members of the public interested in serving on the committee should promptly email a letter of interest to [email protected] with applicable information about their relevant experience. The deadline for submissions is Feb. 20, 2026.

Relevant experience may include:

• Representing emerging companies engaging in private and limited securities offerings or considering an initial public offering (IPO), professional advisors of such companies (including attorneys, accountants, investment bankers, and financial advisors), and investors in such companies;
• Service as an officer or director of small businesses;
• Representing smaller public companies, the professional advisors of such companies (including attorneys, accountants, investment bankers, and financial advisors), and the pre-IPO and post-IPO investors in such companies; and
• Representing participants in the marketplace for the securities of emerging companies and smaller public companies, such as securities exchanges, alternative trading systems, broker dealers, and transfer agents.