Working Group Would Study Hawaii Stock Exchange Formation
By Sonia Isotov
If passed, Senate Resolution SCR 134 would move Hawaii once step closer to having its very own stock exchange.
Introduced by Maui Sen. Roz Baker, resolution SCR 134 would form a working group to report on the feasibility of establishing a local stock exchange.
In a letter to members, Bill Spencer, President, Hawaii Venture Capital Association (HVCA) explained that, “Bringing together capital and entrepreneurs, generally, in Hawaii faces two barriers — lack of information about each other; and lack of business information and trust. Entrepreneurs don’t know who the investors are; the investors don’t know who the entrepreneurs are – and there is a lack of standardized information about each other. Entrepreneurs and investors only become acquainted with each other by their specialized communities.”
Establishing a stock exchange could encourage the exchange of capital and information guided by standard disclosures and regulation.
On December 6, 2010, members of the HVCA, Hawaii Angel, a Hawaii-based investment network, and others put forward a white paper/proposal that outlined the reasons a local stock exchange would bring investors and investment opportunities to Hawaii business and suggested the formation of a working group as the next step.
SCR 134 will be heard on Tuesday, March 29 by the State Senate Commerce and Consumer Protection Committee.