Markets Wired

Good morning. I am thrilled we are hosting this year’s Government-Business Forum on Small Business Capital Formation in the “Silicon Prairie.”[1] Martha [Miller] did a tremendous job of highlighting Nebraska’s entrepreneurial spirit. I have to admit that I am most impressed by the invention of the Reuben sandwich; we all give you credit for your steaks, but this state really does not receive adequate recognition for the Reuben out East.

Kidding aside, I have been an SEC Commissioner for almost a year now and I can say without hesitation that I learn the most when I am able to leave Washington and meet people on their home turf. It is truly one of my favorite parts of the job.

It should be no surprise to you then that ever since I received today’s agenda, I have been looking forward to the first panel: Capital Formation Success Stories from the Silicon Prairie. I hope the panelists will use the opportunity to tell us not only what worked for them when raising capital, but also where the SEC might be able to improve the capital raising environment for small businesses. Have you found there to be any unique challenges to small business capital formation in the Great Plains that we may not be aware of?

I am also excited for the second panel on harmonization. The SEC’s Division of Corporation Finance did a fantastic job drafting the harmonization concept release [2]. It explained the current offering framework in a clear, easy-to-understand manner and asked a lot of great questions that I hope will elicit responses that the Commission can act on. I look forward to hearing the panelists’ reactions to the release.

Before I conclude, I have a long list of “thank yous.” Thank you to Martha Miller and her team, Julie Davis and Jenny Riegel, in the Office of the Advocate for Small Business Capital Formation, for planning and organizing today’s forum, a first for your newly formed office—Martha, you run a very impressive “startup” within the SEC. Thank you to Bill Hinman and Jennifer Zepralka from the SEC’s Division of Corporation Finance for your help and participation. Thank you to everyone back at the SEC home office running point on technology and logistics. And a big thank you to Dean Hendrickson and the Heider College of Business for hosting us here at Creighton University.

Thank you to everyone who traveled to be here today to participate in this forum, and a very special thank you to all of you here who may not have traveled very far, but are here representing Omaha and the Cornhusker State.