Small-Cap Access to Capital Act

Bill: 113-hr-4697
Sponsor: full_name: Rep. McCarthy, Kevin [R-CA-23]
Introduced: 2014-05-21
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures

Business investment and capital

Corporate finance and management

Securities

Securities and Exchange Commission (SEC)
Latest action: action_date: 2014-06-11
text: Ordered to be Reported by the Yeas and Nays: 32 - 27.

Summaries:
action_date: 2014-05-21
action_desc: Introduced in House
text: <p>Small-Cap Access to Capital Act - Directs the Securities and Exchange Commission (SEC) to revise its definition of a well-known seasoned issuer to: (1) reduce from $700 million to $250 million the dollar amount of the issuer's worldwide market value of outstanding voting and non-voting common equity held by non-affiliates, and (2) prohibit an emerging growth company from qualifying as a well-known seasoned issuer.</p>

tv_txt: I 113th CONGRESS 2d Session H. R. 4697 IN THE HOUSE OF REPRESENTATIVES May 21, 2014 Mr. McCarthy of California introduced the following bill; which was referred to the Committee on Financial Services A BILL To require the Securities and Exchange Commission to revise the definition of a well-known seasoned issuer to reduce the worldwide market value threshold under the definition.

1. Short title This Act may be cited as the Small-Cap Access to Capital Act . 2. Definition of well-known seasoned issuer Not later than 60 days after the date of the enactment of this Act, the Securities and Exchange Commission shall revise its definition of a well-known seasoned issuer under section 230.405 of title 17, Code of Federal Regulations, to reduce the dollar amount under paragraph (1)(i)(A) of such definition (relating to worldwide market value of outstanding voting and non-voting common equity held by non-affiliates) from $700 million to $250 million and to prohibit an emerging growth company from qualifying as a well-known seasoned issuer.