News Column

SBIA Applauds Introduction of the Bipartisan 'SBIC Advisers Relief Act' in the Senate

August 1, 2014

WASHINGTON, Aug. 1 -- The Small Business Investor Alliance issued the following news release:

The Small Business Investor Alliance (SBIA), the leading association for lower middle market private equity funds and investors, commends Senators Mark Kirk (R-IL) and Joe Manchin (D-WV) for introducing the SBIC Advisors Relief Act (S. 2765) in the Senate.

S. 2765 aims to reduce redundant regulatory burdens imposed on smaller private equity funds, SBICs, and venture capital funds - all of which provide essential financing for small businesses, a critical driver of growth and jobs in the US economy. By dramatically reducing duplicative legal and compliance costs for these smaller advisers, without negatively impacting investor protections, small business investors will invest more of their capital in job creating small businesses. The bipartisan legislation is the Senate companion bill to H.R. 4200, which unanimously passed by a 56-0 vote in the House Financial Services Committee on May 22.

"The Kirk-Manchin bill adds significant momentum to the process to get this important small business measure to the President's desk," said Brett Palmer, President of the SBIA. "We appreciate the support of Senators Kirk and Manchin as we work to promote bipartisan legislation and common sense financial services regulatory relief that improves our capital markets for small business."

[Category: Business]

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Source: Targeted News Service

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