WASHINGTON, DC – American Consumer and Investor Institute (ACII) President and Policy Director Katie Boyd today submitted a letter to the House Financial Services Committee in response to the committee’s request for feedback on legislative proposals to increase investor access and facilitate capital formation in U.S. markets.
“ACII believes Congress and the SEC need to take decisive action to enact needed reforms to simplify the process for companies to access both the public and private capital markets, enhance access to these markets for all market participants, and ensure that retail investors and consumers have greater opportunities to participate, ultimately fostering a more resilient and vibrant U.S. financial system,” Boyd wrote in the letter.
Key reforms include:
- Simplify the IPO process by expanding provisions of the JOBS Act and tailoring disclosure requirements for smaller companies.
- Enhance retail investor access to private markets by modernizing or eliminating the outdated “accredited investor” definition that currently excludes most Americans based solely on wealth.
- Establish clear regulatory frameworks for digital assets and blockchain innovation to ensure the U.S. leads in these transformative technologies.
- Position the U.S. as a leader in tokenization to unlock new investment opportunities and enhance financial inclusion.
- Restore shareholder value as the primary focus of corporate governance by reining in the excessive influence of proxy advisory firms and activist shareholders, and ensuring that companies focus on delivering shareholder value rather than pursuing social, political, and environmental special interests.
- Reform SEC rules that create unnecessary barriers to capital formation and raise costs for investors.
- Address SEC enforcement overreach to focus on genuine investor protection and to ensure that all market participants get due process protections.
- Promote operational efficiency at the SEC through structural reforms and better alignment with modern markets.
- Reform Self-Regulatory Organizations to ensure greater oversight and accountability to Congress and the American people.
Read the full letter here.