Advocating for Small Business Act

The Advocating for Small Business Act would amend the Securities Exchange Act of 1934 to create an “Office of Small Business” in every SEC rule-writing division. These offices would coordinate with the SEC’s Office of the Advocate for Small Business Capital Formation on rules and policy priorities related to capital formation—the process by which businesses raise money to start or grow. In practical terms, the bill seeks to embed small-business considerations directly into the SEC’s rulemaking process, aiming to make the agency more responsive to the needs of small issuers while coordinating with an existing advocate office. The text does not specify funding or detailed procedures, leaving implementation to the SEC. The bill is titled the "Advocating for Small Business Act." It was introduced in the 119th Congress (H.R. 4449) by Rep. Vicente Gonzalez (with Rep. Garbarino as a co-sponsor and Rep. Fitzpatrick as an additional sponsor) and referred to the House Committee on Financial Services. It does not change substantive securities laws, but it would add organizational units and a coordination requirement within the SEC’s rule-writing framework.