Why going public has lost its luster

'Becoming a public company is a rigorous exercise,' said SEC Chairman Jay Clayton

It’s primarily a good business decision for companies to go public. However, the number of companies filing for an initial public offering (IPO) is on the decline.

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The reason for the slide is because the process of going public isn't easy, U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton told FOX Business’ Maria Bartiromo.

“Becoming a public company is a rigorous exercise.”

- Jay Clayton, SEC Chairman

However, he believes businesses that go through the process come out as better companies.

Nonetheless, on the private side, Clayton said, there is a "ton" of private capital available for "good companies."

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The facade of the New York Stock Exchange. Oct. 4, 2014. (AP Photo/Richard Drew, File)

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But Clayton also said the consequence in doing so lies in the hands of Main Street investors.

“Main Street investors do not really have access to private capital opportunities,” he said.

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This factor troubles Clayton on a policy and personal level, he said.

“I want to make sure that our Main Street investors are getting a broad array of opportunities that reflect the economy as a whole,” he said.

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Clayton said the SEC is looking at ways to access the whole spectrum – “The private markets, the public markets as we go forward."