Miller named advocate for small business capital formation

The Securities and Exchange Commission announced in January that Martha Legg Miller, a resident of Mountain Brook, has been named the first small business capital formation advocate.

The position and new office of the Small Business Capital Formation Advocate was established in accordance with the bipartite SEC Small Business Advocate Act of 2016. As a Small Business Capital Formation Advocate, Miller will oversee the office dedicated to continuing to advance the interests of small businesses and their investors at the SEC and in our capital markets. The office will, among other things, provide assistance to small businesses, conduct outreach activities to better understand the barriers small businesses face when trying to access capital markets, and recommend improvements to the regulatory environment to facilitate capital formation. Miller will report directly to the commission and work collaboratively with the agency’s many staff members aimed at helping small businesses access our capital markets efficiently and cost effectively.

Miller, currently a partner at Balch & Bingham LLP in Birmingham, Ala., Will assume her new role in January 2019. Miller has been with Balch & Bingham since 2012, representing private companies and investors in a wide range of corporate transactions. business, particularly issues related to the financing of small and medium-sized enterprises. She is also an advisor for several organizations dedicated to helping start-ups, entrepreneurs and small businesses, including several focused on women-owned and minority-owned businesses and their investors. Miller has served these organizations in a variety of ways, including serving as a board member of an incubator and legal counsel to an angel investor network.

President Jay Clayton and Commissioners Kara Stein, Robert Jackson, Hester Peirce and Elad Roisman said: “We are delighted that Martha is assuming this important new role. Martha’s vast experience working with a diverse set of businesses, entrepreneurs and investors, including in remote coastal communities, will allow her to serve as a direct link and advocate for the many small businesses across the country that power our local operations and national economies for the benefit of Main Street investors.

“Having spent my career working closely with various companies and their investors, I have a deep appreciation for the needs they face at different phases of their growth,” Miller said. “I am truly honored to have the opportunity to be the premier advocate for small business capital formation, where I will work alongside the many talented professionals at the SEC to encourage access to capital for private companies. and small public enterprises. I look forward to the work ahead to design solutions that meet the needs of businesses across the country.

Miller holds a BA in Cognitive Neuroscience and Communication Studies from Vanderbilt University and a JD from Georgetown University Law Center.

Submitted by Sally Legg