On December 1, 2011, Senators Charles Schumer and Pat Toomey introduced a bill designed to improve emerging-growth companies' access to public capital markets. The bill, known as the "Reopening American Capital Markets to Emerging Growth Companies Act," tracks many of the recommendations made by the IPO Task Force — a working group of venture capitalists, CEOs, public investors, securities lawyers, academics, and investment bankers—in its presentation to the U.S. Department of the Treasury. Wilson Sonsini Goodrich & Rosati's CEO, Steve Bochner, was a member of the IPO Task Force.
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