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Members cite high compliance costs, urge IPO on-ramp and right-sized disclosures for smaller public companies
Summary
Members and witnesses discussed rising costs of public listing and compliance, the decline in public-company counts, and possible steps — including extending IPO on-ramps and reexamining SOX burdens — to make public markets more attractive for smaller firms.
Committee members and witnesses debated whether regulatory and compliance costs have made public markets too expensive for small and medium-sized companies and discussed policy changes to reduce that burden.
Anna Pinedo, securities partner at Mayer Brown, told the panel that the shift away from IPOs reflects market-structure changes and higher disclosure costs…
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