Atkins states exchange-listed companies have fallen roughly 40 percent from over 7,800 in the mid-1990s.
“In the mid‑1990s, more than 7,800 companies were listed on U.S. exchanges. That number has now fallen by roughly 40 percent.”
Atkins cites 40 percent decline in public companies over recent decades as rationale for returning to disclosure foundation.
“Presented with a 40 percent decline in public companies over the past few decades, we are summoned not to create more complexity nor reinvent our mandate, but to restore it to its foundation: that is, disclosure of material information.”
Atkins says public market benefits cannot be re-created privately and aims to extend them to more issuers.
“benefits that “simply cannot be re-created privately.” 1 This morning, I would like to focus on the Commission’s recent efforts to extend those benefits to a broader range of issuers”
Atkins cites a 40 percent decline in public companies over recent decades as justification for reforming SEC disclosure rules.
“Today, the SEC must do likewise. Presented with a 40 percent decline in public companies over the past few decades, we are summoned not to create more complexity nor reinvent our mandate, but to restore it to its foundation: that is, disclosure of material information.”
Atkins describes IPOs as invitations for workers and savers to participate in American enterprise prosperity.
“Every IPO is an invitation to workers and savers to participate in the prosperity of the next generation of American enterprise.”
Atkins says public market benefits cannot be re-created privately and focuses on extending them to more issuers.
“benefits that “simply cannot be re-created privately.” 1 This morning, I would like to focus on the Commission’s recent efforts to extend those benefits to a broader range of issuers and the process behind those efforts.”
Atkins says IPOs declined from 4,000 in the 1990s to only 3,200 in the following 25 years.
“During the decade of the 1990s, there were approximately 4,000 IPOs. In the 25 years since then, there have been only 3,200.”