SEC Chairman Paul Atkins: Public markets should grow in size and breadth

Summary

SEC Chairman Paul Atkins discusses the recent surge in IPOs, attributing it to a more favorable regulatory tone and strong economic fundamentals. He emphasizes the long-term decline in public companies and the SEC's efforts to encourage earlier public listings to allow average investors to participate in growth. He expects continued improvement in the public markets.

• Over 400 IPOs in the last four quarters raised over $180 billion, quadruple the prior four quarters.
• Atkins credits a shift in SEC regulatory tone and better economic fundamentals for the IPO rebound.
• The number of U.S. public companies has fallen 40% over 30 years, limiting retail investor access to growth.
• He aims to rebalance incentives so companies go public sooner rather than staying private late.
• The SEC has proposed rules and will propose more in coming months to reduce barriers to going public.
• Investor confidence in the U.S. is strong, and he wants public markets to expand in size and breadth.