Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015

Bill: 114-hr-686
Sponsor: Rep. Huizenga, Bill [R-MI-2]
Introduced: 2015-02-03 in the House
Policy area: Finance and Financial Sector
Subjects: Banking and financial institutions regulation
Business records
Corporate finance and management
Licensing and registrations
Securities
Small business

Summary:
action_date: 2015-02-03
text: 

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015

 
 Amends the Securities Exchange Act of 1934 to exempt from its registration requirements certain merger and acquisition 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 this Act from being construed as limiting any other authority of the Securities and Exchange Commission to exempt any person, or any class of persons, from any provision of this Act, including any related rule or regulation.

action_date: 2016-01-28
text: 
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
 

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015

 
 (Sec. 2) This bill amends the Securities Exchange Act of 1934 to exempt from its registration requirements certain merger and acquisition brokers and associated persons.
 
A merger and acquisition broker shall not be exempt from registration, however, if the broker: (1) receives, holds, transmits, or has custody of any funds or securities to be exchanged by parties to a transfer of ownership of an eligible privately held company; or (2) engages 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. 
 
Nothing in this Act shall be construed to limit any other authority of the Securities and Exchange Commission 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: 2016-01-28
text: Placed on the Union Calendar, Calendar No. 303.
action_date: 2016-01-28
text: Reported by the Committee on Financial Services. H. Rept. 114-400.
action_date: 2016-01-28
text: Reported by the Committee on Financial Services. H. Rept. 114-400.
action_date: 2015-05-20
text: Ordered to be Reported by the Yeas and Nays: 36 - 24.
action_date: 2015-05-20
text: Committee Consideration and Mark-up Session Held.
action_date: 2015-04-29
text: Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
action_date: 2015-02-03
text: Referred to the House Committee on Financial Services.
action_date: 2015-02-03
text: Introduced in House
action_date: 2015-02-03
text: Introduced in House