According to Crowd Funder, the U.S. Securities and Exchange Commission (SEC) will convene its Small Business Capital Formation Advisory Committee (SBCFAC) on April 28, 2026. The meeting will be livestreamed and open to the public.
The SBCFAC plays a key advisory role, providing the SEC with guidance on how to improve capital access for small businesses and early-stage companies. Its recommendations often shape regulatory direction around private markets and fundraising frameworks.
At its previous meeting in February, the Committee focused on issues surrounding Finders and secondary markets in private securities. One of the primary outcomes was a vote to adopt a set of guiding principles aimed at helping the SEC develop a clearer regulatory approach to Finders, who connect investors with early-stage companies.
The Committee emphasized the importance of keeping any future framework simple and broadly accessible, rather than limiting participation to licensed professionals. Among the ideas discussed was a notice-based filing system that would disclose compensation or fees associated with Finder activity.
The upcoming April meeting is expected to build on this work, with the potential for final recommendations related to Finders. A full agenda for the meeting is anticipated to be released in advance.
As private market participation continues to expand, the Committee’s work remains central to balancing accessibility with appropriate oversight, particularly for smaller firms seeking efficient paths to capital.