SEC Small Business Advisory Committee to Continue Discussion on Regulatory Framework for Finders and Begin Exploring the Private Secondary Market

The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee announced that it will hold a public meeting at the SEC Headquarters in Washington, D.C., on Tuesday, Feb. 24, 2026, at 10 a.m. ET. The meeting will also be webcast on the SEC website. The meeting will continue the committee’s discussion on potential regulatory improvements regarding “finders” who assist companies with raising capital in private markets from accredited investors. To learn more about how the current regulatory framework affects “finders,” the committee will hear from Steven Jafarzadeh, chief compliance officer and partner at Stonehaven. During the afternoon session of the meeting, the committee will hear from SEC Office of the Advocate for Small Business Capital Formation staff, who will provide an overview of the office’s 2025 Staff Report, which includes in-depth data on the state of capital raising activity from startup to small cap.