Office of Small Business Advocate

Legislation has been introduced in the Senate that will create an Office of the Advocate for Small Business Capital Formation at the Securities and Exchange Commission (SEC).

The legislation, a bipartisan measure known as the SEC Small Business Advocate Act of 2015 S. 2867, would create an office to represent the interests of small business owners and investors, and serve as an independent voice to ensure they have a seat at the table as the federal government makes new rules on how small businesses can raise funding and access the resources needed to succeed. The office would be modeled on the Office of the Investor Advocate, created by the Dodd-Frank Act.

The bill passed the House unanimously and is currently in the Senate Banking Committee where it is receiving broad acceptance.

Office of Small Business Advocate Explained

Brett Palmer, president of the Small Business Investor Alliance (SBIA), a policy organization representing lower middle market private equity funds and

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Source: Small Business Trends