The studies David co-authored have documented the long-term decline in
equity capital formation in the United States and provided the core arguments
that gave rise to the JOBS Act and many of the specific provisions contained in
the JOBS Act. For these reasons, he has been called “The father of the JOBS
Act.” David has also called for a “JOBS Act 2” or “JOBS Act Part 2” - language
increasingly heard on Capitol Hill. The work has been cited by a broad range of
legislators, regulators, academics, the IPO Task Force and the White House Jobs
Council leading up to the JOBS Act. David has testified in Congress (most
recently in June 2013) and at the SEC (most recently at the Roundtable on
Decimalization) on these and other market issues and attended the signing of
the JOBS Act by President Obama in the Rose Garden on April 5, 2012.
David was also recently asked to author a study for the Organization of
Economic Cooperation and Development (OECD) which was entitled, “Making
Stock Markets Work to Support Economic Growth” and presented in April 2013
in draft form to the 35 member nations of the OECD, IOSCO and the European
Commission. The U.S. Treasury and SEC were in attendance. He later
presented the final version at a meeting in June that included the CEO of the
World Federation of Exchanges where it was generally agreed, as Weild and Kim
have maintained, that structural changes to stock markets have caused the
global decline in capital formation for small companies.
David is a former Vice Chairman and executive committee member of The
NASDAQ Stock Market and spent years running Wall Street investment banking
and equity capital markets businesses.
David holds an MBA from the Stern School of Business and a BA from Wesleyan
University. He studied on exchange at The Sorbonne, Ecole des Haute Etudes
Commerciales and The Stockholm School of Economics. He is also Chairman of
the Board of Tuesday’s Children, the 9/11 charity.
