Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021

Bill: 117-hr-935
Sponsor: Rep. Huizenga, Bill [R-MI-2]
Introduced: 2021-02-08 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: 2021-02-08
text: 

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021

 
This bill exempts from securities registration requirements certain merger-and-acquisition brokers that facilitate transfer of ownership in privately held companies with earnings or revenues under a specified threshold. However, this exemption shall not apply to certain brokers, including those that provide financing related to the transfer of ownership, engage on behalf of any party in a transaction involving specified shell companies, or are subject to suspension or revocation of registration.

action_date: 2022-05-10
text: 

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021

 
This bill exempts from securities registration requirements certain merger-and-acquisition brokers that facilitate transfer of ownership in privately held companies with earnings or revenues under a specified threshold. However, this exemption shall not apply to certain brokers, including those that provide financing related to the transfer of ownership, engage on behalf of any party in a transaction involving specified shell companies, or have been barred or suspended from association with a broker or dealer.

action_date: 2022-05-11
text: 

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021

 
This bill exempts from securities registration requirements certain merger-and-acquisition brokers that facilitate transfer of ownership in privately held companies with earnings or revenues under a specified threshold. However, this exemption shall not apply to certain brokers, including those that provide financing related to the transfer of ownership, engage on behalf of any party in a transaction involving specified shell companies, or have been barred or suspended from association with a broker or dealer.


Legislative actions:
action_date: 2022-05-12
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2022-05-11
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2022-05-11
text: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 419 - 0 (Roll no. 158). (text: 05/10/2022 CR H4746-4747)
action_date: 2022-05-11
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): 419 - 0 (Roll no. 158).
action_date: 2022-05-11
text: Considered as unfinished business. (consideration: CR H4837-4838)
action_date: 2022-05-10
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: 2022-05-10
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 935.
action_date: 2022-05-10
text: Considered under suspension of the rules. (consideration: CR H4746-4748)
action_date: 2022-05-10
text: Mr. Garcia (IL) moved to suspend the rules and pass the bill, as amended.
action_date: 2022-05-10
text: Placed on the Union Calendar, Calendar No. 233.
action_date: 2022-05-10
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 117-313.
action_date: 2022-05-10
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 117-313.
action_date: 2021-07-29
text: Ordered to be Reported in the Nature of a Substitute (Amended) by Voice Vote.
action_date: 2021-07-29
text: Committee Consideration and Mark-up Session Held.
action_date: 2021-07-28
text: Committee Consideration and Mark-up Session Held.
action_date: 2021-02-08
text: Referred to the House Committee on Financial Services.
action_date: 2021-02-08
text: Introduced in House
action_date: 2021-02-08
text: Introduced in House