Title 15 — Commerce and TradeRelease 119-73
§80c–3 Reduction of costs of small securities issues
Title 15 › Chapter CHAPTER 2E— - OMNIBUS SMALL BUSINESS CAPITAL FORMATION › § 80c–3
Summary
The SEC must try to lower the costs for companies raising money when their total securities and debt are $25,000,000 or less. It must study ways to cut costs, promote useful technologies (like printing, communications, and filing), and watch how rule changes affect small companies and the independent broker‑dealers that help them. It must report on these efforts each year at the government‑business forum required by law.
Full Legal Text
Title 15, §80c–3
Commerce and Trade — Source: USLM XML via OLRC
(a)The Securities and Exchange Commission shall use its best efforts to identify and reduce the costs of raising capital in connection with the issuance of securities by firms whose aggregate outstanding securities and other indebtedness have a market value of $25,000,000 or less, through such means as studies, giving appropriate publicity to improved technology developments in fields such as printing, communications, and filing, and giving special attention to the effect of existing and proposed regulatory changes upon the small companies wishing to raise capital and independent broker-dealers which are in a key position with respect to the costs of underwriting and making markets in the securities of smaller companies.
(b)The Commission shall report on these efforts at the annual Government-business forum required by section 80c–1 of this title.
Legislative History
Notes & Related Subsidiaries
Statutory Notes and Related Subsidiaries
Effective Date
Section effective Jan. 1, 1981, see section 507 of Pub. L. 96–477, set out as a note under section 80c of this title.
Reference
Citations & Metadata
Citation
15 U.S.C. § 80c–3
Title 15 — Commerce and Trade
Last Updated
Apr 6, 2026
Release point: 119-73