On September 13, the Securities and Exchange Commission announced the formation of an Advisory Committee on Small and Emerging Companies. According to the SEC, the committee is intended to facilitate advice and recommendations specifically related to privately held businesses and publicly traded companies with market capitalizations of less than $250 million.

The committee will advise and consult with the SEC on such issues as financing through private and public securities offerings, trading in securities of small and emerging public companies and public reporting for such companies. The SEC indicated that it will seek the committee’s input in connection with, among other things, the SEC’s recently-announced review of rules related to the triggers for public reporting and rules restricting general solicitation in private placements.