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New SEC chair says that the substantial decline in the number of U.S. IPOs and publicly listed companies in recent years is of great concern to him

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Jun 22, 2017

On June 22, 2017, the Securities and Exchange Commission (SEC) released a speech by SEC Chairman, Jay Clayton, where he discusses how fewer publicly listed companies ultimately results in fewer opportunities for Main Street Americans to share in the economy’s growth, at a time when they are asked to do more on their own to save and invest for their future and their children’s futures.

Some companies have shifted capital raising activities to the private markets, where many Main Street Americans have limited access. High-quality companies may choose to go public at a later stage, after much of their early growth has already been achieved. Other companies may choose to stay private. 

In his speech, Mr. Clayton remarks that under his direction and the direction of Bill Hinman, Director of the Division of Corporation Finance, the SEC staff is actively exploring ways in which they can improve the attractiveness of listing on our public markets, while maintaining important investor protections. He looks forward to hearing the views of the panelists – not only on the causes of the decline in IPO activity and the substantial decline in the number of public companies, but also on potential ways to reverse those trends. He expects that the Committee will have valuable recommendations on this topic.

Review the speech on the SEC's website.

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