PEGCC Statement in Response to Subcommittee Passage of the Small Business Capital Access and Job Preservation Act
WASHINGTON, DC – Today, Douglas Lowenstein, President and CEO of the Private Equity Growth Capital Council (PEGCC) made the following statement in response to passage of The Small Business Capital Access and Job Preservation Act in the House Subcommittee on Capital Markets & Government Sponsored Enterprises:
“The vote today in the House Subcommittee on Capital Markets & Government Sponsored Enterprises reflects an emerging bipartisan consensus that, at a minimum, the requirement for private equity funds to register as investment advisors should be calibrated to reflect the fact that private equity firms do not create systemic risk or raise investor protection issues. We applaud Representative Hurt and commend the leadership of Chairman Bachus and Subcommittee Chairman Garrett on this issue. We also appreciate the support of Representative Himes. We will continue to work with members of both parties to ensure appropriate oversight without an unnecessarily costly compliance regime which diverts SEC resources from its core market and investor protection obligations.”
