August 26, 2020


WASHINGTON, D.C. -Today the Securities and Exchange Commission (SEC) took important steps to modernize disclosures and improve access to capital by adopting reforms to both Regulation S-K and the definition of accredited investor. The following statement can be attributed to Thomas Quaadman, executive vice president of the U.S. Chamber Center for Capital Markets Competitiveness.

“We commend the SEC for taking a major step forward that will provide main street investors greater opportunities to build wealth while also allowing emerging companies the accesstocapital they need to create jobs and grow. The U.S Chamber Center for Capital Markets Competitiveness has long advocated for these changes that modernize and simplify disclosure requirements for public companies while ensuring investors are still provided with material information. By expanding the definition of accredited investor,the SEC is providing growing companies new sources of capital. The Chamber looks forward to working with the SEC during the implementation of these reforms to unleash new investment opportunities, remove roadblocks that hinder companies from raising capital, and maintain strong investor protections.”