On August 27, 2020, the Small Business Capital Formation Advisory Committee issued the following recommendation:
√ The Committee acknowledges that the country is at an inflection point
with respect to confronting matters of racial equity and inclusion, and
access to capital is a powerful tool to help achieve racial and economic
√ Regulatory action to improve the current capital-raising system – in which minorities and women have been underrepresented and inadequately supported – is critical.
√ The Committee supports regulatory revisions to the capital-raising rules and ecosystem that promote increased opportunities for diverse entrepreneurs and investors, particularly minorities and women, and asks the SEC to take leadership in the area.