Mayer Brown’s Anna Pinedo, co-author of Wolters Kluwer’s Corporate Finance and the Securities Laws, was recently tapped to testify before the House Committee on Financial Services on the topic of fostering markets. She said that in her 30-year career handling securities offerings she has watched IPOs lose their luster while small and mid-sized companies fled to the private markets. Added regulation from Sarbanes-Oxley and Dodd-Frank, plus the lack of an “ecosystem” to support these companies, has meant that IPOs have been left to larger, more seasoned companies better able to fare in the market. In her testimony Ms. Pinedo called for legislation that deals with the market problems small companies face and noted the particular importance of a bill that would expand the availability of well-known seasoned issuer status.
View Ms. Pinedo's testimony here.