[Federal Register Volume 76, Number 180 (Friday, September 16, 2011)]
[Pages 57769-57770]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-23731]



[Release Nos. 33-9258; 34-65322; File No. 265-27]

Advisory Committee on Small and Emerging Companies

AGENCY: Securities and Exchange Commission.

ACTION: Notice of Federal Advisory Committee Establishment.


SUMMARY: The Securities and Exchange Commission intends to establish 
the Securities and Exchange Commission Advisory Committee on Small and 
Emerging Companies.

ADDRESSES: Written comments may be submitted by the following methods:

Electronic Comments

     Use the Commission's Internet submission form (http://www.sec.gov/rules/other.shtml); or
     Send an e-mail message to [email protected], including 
File No. X-XXX on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy, 
Secretary, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549-1090.

All submissions should refer to File No. 265-27. To help us process and 
review your comments more efficiently, please use only one method. The 
Commission will post all comments on the Commission's Internet Web site 
(http://www.sec.gov/rules/other.shtml). Comments also will be available 
for Web site viewing and printing in the Commission's Public Reference 
Room, 100 F Street, NE., Washington, DC 20549, on official business 
days between the hours of 10 a.m. and 3 p.m. All comments received will 
be posted without change; we do not edit personal identifying 
information from your submissions. You should submit only information 
that you wish to make available publicly.

FOR FURTHER INFORMATION CONTACT: Johanna V. Losert, Special Counsel, or 
Gerald J. Laporte, Office Chief, Office of

[[Page 57770]]

Small Business Policy, Securities and Exchange Commission, 100 F 
Street, NE., Washington DC 20549-3628, (202) 551-3460.

SUPPLEMENTARY INFORMATION: In accordance with the requirements of the 
Federal Advisory Committee Act, 5 U.S.C.--App., the Commission is 
publishing this notice that the Chairman of the Commission, with the 
concurrence of the other Commissioners, intends to establish the 
Securities and Exchange Commission Advisory Committee on Small and 
Emerging Companies (the ``Committee''). The Committee's objective is to 
provide the Commission with advice on its rules, regulations, and 
policies, with regard to its mission of protecting investors, 
maintaining fair, orderly, and efficient markets, and facilitating 
capital formation, as they relate to the following:
    (1) Capital raising by emerging privately-held small businesses 
(``emerging companies'') and publicly traded companies with less than 
$250 million in public market capitalization (``smaller public 
companies'') through securities offerings, including private and 
limited offerings and initial and other public offerings;
    (2) Trading in the securities of emerging companies and smaller 
public companies; and
    (3) Public reporting and corporate governance requirements of 
emerging companies and smaller public companies.
    Up to 20 voting members will be appointed to the Committee who can 
effectively represent those directly affected by, interested in, and/or 
qualified to provide advice to the Commission on its rules, 
regulations, and policies as set forth above. The Committee's 
membership will be balanced fairly in terms of points of view 
represented and functions to be performed. Non-voting observers for the 
committee from the North American Securities Administrators Association 
and the Small Business Administration may also be named.
    The Committee may be established 15 days after publication of this 
notice in the Federal Register by filing a charter for the Committee 
with the Committee on Banking, Housing, and Urban Affairs of the United 
States Senate and the Committee on Financial Services of the United 
States House of Representatives. A copy of the charter as so filed also 
will be filed with the Chairman of the Commission, furnished to the 
Library of Congress, and posted on the Commission's Web site at http://www.sec.gov. An undated copy of the charter is now available at http://www.faca.gov.
    The Committee will operate for two years from the date it is 
established or such earlier date as determined by the Commission 
unless, before the expiration of that time period, its charter is re-
established or renewed in accordance with the Federal Advisory 
Committee Act.
    The Committee will meet at such intervals as are necessary to carry 
out its functions. The charter contemplates that the full Committee 
will meet three times annually. Meetings of subgroups or subcommittees 
of the full Committee may occur more frequently.
    The charter will provide that the duties of the Committee are to be 
solely advisory. The Commission alone will make any determinations of 
action to be taken and policy to be expressed with respect to matters 
within the Commission's authority as to which the Committee provides 
advice or makes recommendations. The Chairman of the Commission affirms 
that the establishment of the Committee is necessary and in the public 

    By the Commission.

    Dated: September 12, 2011.
Elizabeth M. Murphy,
[FR Doc. 2011-23731 Filed 9-15-11; 8:45 am]