The Committee devoted the morning’s session to a discussion of the decline in the number of U.S. IPOs. Chair Clayton addressed the Committee and noted that the decline in the number of U.S. IPOs and in the number of listed companies was concern. The Chair noted that the Director of the Division of Corporation Finance is “actively exploring ways in which we can improve the attractiveness of listing on our public markets, while maintaining important investor protections.” The panel heard from academics (see, for example, this article), as well as bankers about the changes in market dynamics that may be at the root of the decline in the number of IPOs. Slides from one of the presentations are available here.