Thanks SEC for adopting recommendations to improve chances for success
WASHINGTON, DC – The National Venture Capital Association (NVCA) today issued the following statement after the Securities and Exchange Commission (SEC) announced the approval of a proposed pilot program by the national stock exchanges and the Financial Industry Regulatory Authority (FINRA) to allow for the widening of trading increments of smaller cap companies.
“This announcement is welcome news to those of us that want to find ways to increase job creation and American economic competitiveness,” said Bobby Franklin, President and CEO of NVCA. “Specifically, we are pleased that the SEC adopted NVCA’s recommendation to lengthen the duration of the pilot program to allow for adequate time to examine the effects of wider tick sizes on the liquidity of small cap companies. We also appreciate their providing for the necessary time for market participants to prepare for implementation as well as the inclusion of a strong framework and measurable metrics that will provide an effective structure for participation and data collection.”