PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

H.R. 432: “SBIC Advisors Relief Act”

By at 14 July, 2015, 9:24 am

UPDATE: On July 14, the U.S. House passed the SBIC Advisory Relief Act by voice vote.

 

The Honorable Blaine Luetkemeyer

U.S. House of Representatives

2440 Rayburn Building

Washington, DC  20515

 

Dear Representative Luetkemeyer:

On behalf of the 100,000 members of the Small Business & Entrepreneurship Council (SBE Council), I am pleased to support H.R. 432, the “SBIC Advisors Relief Act.”

This important, bipartisan bill will streamline and reduce regulatory compliance for advisers to Small Business Investment Companies (SBICs), an unintended consequence of the Dodd-Frank law that has resulted in double regulation, higher costs, and the inefficient use of capital.

H.R. 432 eliminates the duplicative regulation of advisers to SBICs, and thus will allow capital that is currently diverted on unwarranted regulatory compliance and fees to flow directly to entrepreneurs and job-creating small businesses.

Thank you for your leadership in introducing H.R. 432 and advocating for these important changes to help improve capital access for small businesses and entrepreneurs.

Sincerely,

Karen Kerrigan, President & CEO

 

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