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The Forum on Small Business Capital Formation is conducted annually by the SEC under a 1980 Congressional mandate. It provides an opportunity for small business leaders and regulators to meet and discuss ways to improve the regulatory system for capital formation in the small business segment of the economy.
The Advisory Committee was established by the SEC to examine the impact of the Sarbanes-Oxley Act and other federal securities laws on smaller public companies. The Committee’s mission is to provide recommendations to the SEC to assure that the costs and burdens of federal securities regulation for smaller companies are commensurate with the benefits to investors and the public. The Committee is expected to present its final report to the Commission in April 2006.
The 2005 Forum is being conducted concurrently with the Advisory Committee meeting so that the Forum participants can provide formal input into the deliberations of the Advisory Committee. The SEC is looking to the Advisory Committee for advice in setting regulatory policy for smaller companies. The Advisory Committee’s public agenda for Tuesday, September 20, includes a session dedicated to hearing the recommendations developed by the Forum participants on Monday, September 19.
The meetings will be held at the Hyatt at Fisherman’s Wharf Hotel, 555 North Point Street, San Francisco. The public is welcome to attend all meetings of the Advisory Committee, which will be audio webcast on the SEC’s website at www.sec.gov/news/otherwebcasts.shtml. Registration is required to attend the luncheon and some of the Forum sessions, and also is available on the SEC’s website,
The public agenda for the meetings, including information on the roundtable presenters, follows.
Monday, September 19, 2005 | |
| 8:00 a.m. | Welcoming Remarks
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| 8:15 a.m. | Joint Session of SEC Advisory Committee and Forum
Presenters: Gerald V. Niesar, Partner, Niesar Curls Bartling LLP, San Francisco, CA Donald C. Reinke, Partner, Reed Smith, Oakland, CA Lynn E. Turner, Professor and Director of The Center for Quality Financial Reporting, Colorado State University, Fort Collins, CO Richard Ueltschy, Executive, Crowe Chizek and Company LLC, Louisville, KY Ann Y. Walker, Partner, Wilson Sonsini Goodrich & Rosati, Palo Alto, CA |
| 10:15 a.m. | Break |
| 10:30 a.m. | Joint Session of SEC Advisory Committee and Forum
Presenters: Chris Ailman, Chief Investment Officer, California State Teachers Retirement System, Sacramento, CA Irwin Federman, General Partner, U.S. Venture Partners, Menlo Park, CA Kenneth Hahn, Senior Vice President, Chief Financial Officer, Borland Software Corporation, Cupertino, CA Bill Hambrecht, Founder, Chairman and Chief Executive Officer, W.R. Hambrecht + Co., San Francisco, CA Jon Hickman, Vice President, Equity Research- Technology, MDB Capital Group LLC, Santa Monica, CA Michael McConnell, Managing Director, Shamrock Capital Advisors, Burbank, CA |
| 12:15 p.m. | Luncheon
Speaker: SEC Commissioner Paul S. Atkins |
Tuesday, September 20, 2005, Business Meeting of SEC Advisory Committee on Smaller Public Companies | |
| 10:15 a.m. | Introductory Remarks |
| 10:30 a.m. | Presentation of Recommendations of SEC Forum on Small Business Capital Formation Presenters:
Charles L. Bennett, Senior Vice President, Financial Services Practice Group, Intercom Consulting and Federal Systems, Inc., Berwyn, PA Brian T. Borders, Borders Law Group, Washington, DC Ralph V. De Martino, Member, Cozen O’Connor, Washington, DC Lance Jon Kimmel, SEC Law Firm, Los Angeles, CA Marc H. Morgenstern, Managing Partner, Kahn Kleinman, LPA, Cleveland, OH |
| 11:15 a.m. | Public Testimony and Discussion of Witness Presentations and Written Statements
Witness: Larry E. Rittenberg, Chairman, Committee of Sponsoring Organizations of the Treadway Commission (COSO) |
| 12:00 Noon | Reports of Subcommittees
Capital Formation Accounting Standards Corporate Governance and Disclosure Internal Control Over Financial Reporting |
| 1:15 p.m. | Discussion of Timetable and Next Steps |
| 1:30 p.m. | Adjournment |
