Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2014

Bill: 113-hr-2274
Sponsor: Rep. Huizenga, Bill [R-MI-2]
Introduced: 2013-06-06 in the House
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures
Banking and financial institutions regulation
Business records
Corporate finance and management
Financial services and investments
Government information and archives
Licensing and registrations
Securities
Securities and Exchange Commission (SEC)
Small business

Summary:
action_date: 2013-06-06
text: 
Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2013 - Amends the Securities Exchange Act of 1934 to allow merger and acquisition brokers (M&A brokers) who perform services in connection with the transfer of ownership of smaller privately held companies to register with the Securities and Exchange Commission (SEC) by filing an electronic notice. 
 
Declares such registration effective upon receipt by the SEC of a properly completed notice. Requires SEC approval of a registration, however, if the broker or an associated person is subject to suspension or revocation of registration, to a statutory disqualification, or to a disqualification under SEC rules pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act.

action_date: 2014-01-14
text: 
Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2014 - Amends the Securities Exchange Act of 1934 to exempt from its registration requirements certain merger and acquisition (M&A) brokers and associated persons.
 
Denies such registration exemption, however, to brokers who: (1) receive, hold, transmit, or have custody of any funds or securities to be exchanged by parties to a transfer of ownership of an eligible privately held company; or (2) engage on behalf of an issuer in a public offering of securities that are either subject to mandatory registration, or with respect to which the issuer must file periodic information, documents, and reports. 
 
Prohibits the construction of this Act to limit any other authority of the Securities and Exchange Commission (SEC) to exempt any person, or any class of persons, from any provision of this Act, including any related rule or regulation.


Legislative actions:
action_date: 2014-01-15
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2014-01-14
text: The title of the measure was amended. Agreed to without objection.
action_date: 2014-01-14
text: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 422 - 0 (Roll no. 14). (text: CR H192-193)
action_date: 2014-01-14
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 422 - 0 (Roll no. 14).(text: CR H192-193)
action_date: 2014-01-14
text: Considered as unfinished business. (consideration: CR H198-199)
action_date: 2014-01-14
text: At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
action_date: 2014-01-14
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 2274.
action_date: 2014-01-14
text: Considered under suspension of the rules. (consideration: CR H192-196)
action_date: 2014-01-14
text: Mr. Garrett moved to suspend the rules and pass the bill, as amended. (consideration: CR H192)
action_date: 2014-01-14
text: Placed on the Union Calendar, Calendar No. 243.
action_date: 2014-01-14
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 113-326.
action_date: 2014-01-14
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 113-326.
action_date: 2013-11-14
text: Ordered to be Reported (Amended) by the Yeas and Nays: 57 - 0.
action_date: 2013-11-14
text: Committee Consideration and Mark-up Session Held.
action_date: 2013-10-23
text: Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
action_date: 2013-06-06
text: Referred to the House Committee on Financial Services.
action_date: 2013-06-06
text: Introduced in House
action_date: 2013-06-06
text: Introduced in House