November 02, 2020

Crapo Statement on SEC Amendments to Exempt Offering Framework

WASHINGTON, D.C. – U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, issued the following statement regarding the Securities and Exchange Commission’s (SEC) vote to simplify, harmonize and improve the exempt offering framework. 

“These modernization efforts are a lifeline to small and mid-sized companies who do not have the knowledge, expertise or staff to navigate the previously complex exempt capital market system.  The SEC’s work to create clearer, more concise rules of the road for exempt offerings come at a critical time when businesses are rebuilding in light of the effects of COVID-19, and will allow these smaller companies to focus more of their efforts on recovery, while maintaining investor protections.  I commend the SEC for improving the consistency of investor protections, and increasing the capital raising options for small and mid-sized businesses.”