Helping Angels Lead Our Startups Act

Bill: 114-hr-4498
Sponsor: Rep. Chabot, Steve [R-OH-1]
Introduced: 2016-02-09 in the House
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures
Business investment and capital
Financial services and investments
Higher education
Marketing and advertising
Securities
Securities and Exchange Commission (SEC)
Social work, volunteer service, charitable organizations

Summary:
action_date: 2016-02-09
text: 

Helping Angels Lead Our Startups Act or the HALOS Act

 
 This bill directs the Securities and Exchange Commission to amend Regulation D (governing the limited offer and sale of securities without registration under the Securities Act of 1933) to make the prohibition against general solicitation or general advertising inapplicable to events with specified kinds of sponsors (including angel investor groups not connected to broker-dealers or investment advisers) where:
 
 
presentations or communications are made by or on behalf of an issuer,
 
the advertising does not refer to any specific offering of securities by the issuer,
 
the sponsor does not engage in certain activities (such as offering investment recommendations or advice to attendees),
 
the sponsor does not receive compensation for the event which would require registration as a broker or dealer or as an investment advisor, and
 
no specific information regarding a securities offering is communicated (other than that the issuer is in the process of offering or planning to offer securities, including the type and amount of securities being offered).
 
 
This bill may only be construed as requiring the SEC to amend Regulation D with respect to presentations and communications, and not with respect to purchases or sales.

action_date: 2016-04-19
text: 
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
 

Helping Angels Lead Our Startups Act or the HALOS Act

 
 (Sec. 3) This bill directs the Securities and Exchange Commission (SEC) to amend Regulation D (governing the limited offer and sale of securities without registration under the Securities Act of 1933) to make the prohibition against general solicitation or general advertising inapplicable to events with specified kinds of sponsors (including angel investor groups not connected to broker-dealers or investment advisers) where:
 
 
presentations or communications are made by or on behalf of an issuer,
 
the advertising does not refer to any specific offering of securities by the issuer,
 
the sponsor does not engage in certain activities (such as offering investment recommendations or advice to attendees),
 
the sponsor does not receive compensation for the event which would require registration as a broker or dealer or as an investment advisor, and
 
no specific information regarding a securities offering is communicated (other than that the issuer is in the process of offering or planning to offer securities, including the type and amount of securities being offered).
 
 
This bill may only be construed as requiring the SEC to amend Regulation D with respect to presentations and communications, and not with respect to purchases or sales.

action_date: 2016-04-27
text: 
(This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.)
 

Helping Angels Lead Our Startups Act or the HALOS Act

 
 (Sec. 3) This bill directs the Securities and Exchange Commission (SEC) to amend Regulation D (governing the limited offer and sale of securities without registration under the Securities Act of 1933) to make the prohibition against general solicitation or general advertising inapplicable to events with specified kinds of sponsors (including angel investor groups not connected to broker-dealers or investment advisers) where:
 
 
presentations or communications are made by or on behalf of an issuer,
 
the advertising does not refer to any specific offering of securities by the issuer,
 
the sponsor does not engage in certain activities (such as offering investment recommendations or advice to attendees),
 
the sponsor does not receive compensation for the event which would require registration as a broker or dealer or as an investment advisor, and
 
no specific information regarding a securities offering is communicated (other than that the issuer is in the process of offering or planning to offer securities, including the type and amount of securities being offered).
 
 
This bill may only be construed as requiring the SEC to amend Regulation D with respect to presentations and communications, and not with respect to purchases or sales.


Legislative actions:
action_date: 2016-04-28
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2016-04-27
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2016-04-27
text: On passage Passed by the Yeas and Nays: 325 - 89 (Roll no. 171). (text: CR H2037-2038)
action_date: 2016-04-27
text: Passed/agreed to in House: On passage Passed by the Yeas and Nays: 325 - 89 (Roll no. 171).(text: CR H2037-2038)
action_date: 2016-04-27
text: DEBATE - Pursuant to the provisions of H.Res. 701, the House proceeded with 10 minutes of debate on the Waters amendment.
action_date: 2016-04-27
text: DEBATE - The House proceeded with one hour of debate on H.R. 4498.
action_date: 2016-04-27
text: Rule provides for consideration of H.R. 4498 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. A specified amendment is in order.
action_date: 2016-04-27
text: Considered under the provisions of rule H. Res. 701. (consideration: CR H2037-2046)
action_date: 2016-04-27
text: Rule H. Res. 701 passed House.
action_date: 2016-04-26
text: Rules Committee Resolution H. Res. 701 Reported to House. Rule provides for consideration of H.R. 4498 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. A specified amendment is in order.
action_date: 2016-04-19
text: Placed on the Union Calendar, Calendar No. 389.
action_date: 2016-04-19
text: Reported by the Committee on Financial Services. H. Rept. 114-509.
action_date: 2016-04-19
text: Reported by the Committee on Financial Services. H. Rept. 114-509.
action_date: 2016-03-02
text: Ordered to be Reported by the Yeas and Nays: 44 - 13.
action_date: 2016-03-02
text: Committee Consideration and Mark-up Session Held.
action_date: 2016-02-09
text: Referred to the House Committee on Financial Services.
action_date: 2016-02-09
text: Introduced in House
action_date: 2016-02-09
text: Introduced in House
action_date: 2015-12-02
text: Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Introduction and Referral.