WASHINGTON, D.C. (May 7, 2021) — SEC Chairman Gary Gensler testified before the House Financial Services Committee in a hearing intended to examine the trading frenzy in GameStop and other stocks earlier this year. SBIA engaged Rep. Bill Huizenga (R-MI), the ranking member of the Capital Markets Subcommittee, to raise the AFFE issue during the hearing. With the retirement of Rep. Steve Stivers (R-OH), a leader on AFFE legislation last year, SBIA has been working closely with Rep. Huizenga’s staff and anticipate that he will take a lead role on AFFE during this Congress. In response to the question, Gensler admitted that he is not up to speed on AFFE, but committed to working with members to better understand the issue.
About the Small Business Investor Alliance (SBIA)
The Small Business Investor Alliance (SBIA) is the premier organization of lower middle market private equity funds and investors. SBIA works on behalf of its members as a tireless advocate for policies that promote competitive markets and robust domestic investment for growing small businesses. SBIA has been playing a pivotal role in promoting the growth and vitality of the private equity industry for over 60 years. For more information, visit www.SBIA.org or call (202) 628-5055.