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Venture Exchanges – 
The discussion around Venture Exchanges, which was the subject of my recent testimony in Congress traces back to an Op-ed that I wrote for the Wall Street Journal in 2011, How to Revive Small-Cap IPOs.


“Venture” or “Small-Cap” exchanges would be built to suit the need of 
small cap companies, their investors and the intermediaries
 (investment banks, market makers and research providers) required to make these markets work and usher in a new age of American growth and prosperity.

 As I said in my testimony, 

“The ‘Main Street Growth Act,’ which would establish a new class of stock exchanges catering to the needs of small cap companies, has the potential, 
with some modifications, to get this country back in business. 
It has the potential to go down as one of the most important Acts to come out 
of this, or any, Congress by creating essential infrastructure in support of U.S. economic growth.

It has the potential to bring back American entrepreneurial swagger and to reignite the American Dream. It has the potential to create jobs on a scale that will improve labor participation rates and hourly wages and help lift many middle class and lower income people to reach their aspirations of financial well-being.”