§9541 Annual Diverse Business Forum on Capital Formation

Summary

The Under Secretary must hold a Government-business forum on capital formation for minority business enterprises. The first forum must happen no later than 18 months after November 15, 2021, and then must occur every year. The Under Secretary must invite other federal leaders (for example, the Chair of the SEC, the Secretary of the Treasury, and the Federal Reserve Chair), organizations of State securities commissioners, leading minority chambers of commerce, at least one certified minority business owner, and business and professional groups to help plan each forum. The Under Secretary can ask these people or groups to give reports or statements, and they should cooperate as much as they can. After each forum, the Under Secretary must write a short summary of what happened, including the forum’s findings and recommendations, and send that summary to the forum participants, to Congress, and post it on a public website. Any federal agency that is affected by a finding or recommendation must review it and quickly publish a public statement saying what they think and what action, if any, they will take. If more than one agency is involved, they may issue a joint statement.