Improving Access to Capital Act

Bill: 115-hr-2864
Sponsor: full_name: Rep. Sinema, Kyrsten [D-AZ-9]
Introduced: 2017-06-08
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures

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Securities and Exchange Commission (SEC)
Latest action: action_date: 2017-09-06
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2017-06-08
action_desc: Introduced in House
text: <p><b>Improving Access to Capital Act</b></p> <p>This bill amends the Securities Exchange Act of 1934 to exempt, under Regulation A+, certain fully reporting issuers&nbsp;from specified disclosure requirements.&nbsp;Under current law,&nbsp;Regulation A+ exempts&nbsp;certain smaller offerings from securities registration requirements but applies only to non-reporting issuers. </p>

action_date: 2017-09-05
action_desc: Passed House amended
text: <p>(Sec. 1) This bill exempts, under Regulation A+, certain fully reporting issuers of securities&nbsp;from specified disclosure requirements.&nbsp;Under current law,&nbsp;Regulation A+ exempts&nbsp;certain smaller offerings from securities registration requirements but applies only to non-reporting issuers. </p>

tv_txt: I 115th CONGRESS 1st Session H. R. 2864 IN THE HOUSE OF REPRESENTATIVES June 8, 2017 Ms. Sinema (for herself and Mr. Hollingsworth ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To direct the Securities and Exchange Commission to allow certain issuers to be exempt from registration requirements, and for other purposes.

1. Short title This Act may be cited as the Improving Access to Capital Act . 2. Application of exemption (a) In general The Securities and Exchange Commission shall amend section 230.251 of title 17, Code of Federal Regulations, to remove the requirement that the issuer not be subject to section 13 or 15(d) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq.) immediately before the offering. (b) Tier 2 offering reporting requirements Section 13 of the Securities Exchange Act of 1933 ( 15 U.S.C. 78m ) is amended by adding at the end the following: (s) Exemption to reporting requirements With respect to a Tier 2 offering under section 230.251 of title 17, Code of Federal Regulations, an issuer that is subject to section 13 and meets the reporting requirements of that section is deemed to meet the periodic and current reporting requirements of section 230.257 of title 17, Code of Federal Regulations. .

tv_txt: I 115th CONGRESS 1st Session H. R. 2864 IN THE HOUSE OF REPRESENTATIVES AN ACT To direct the Securities and Exchange Commission to allow certain issuers to be exempt from registration requirements, and for other purposes.

1. Application of exemption The Securities and Exchange Commission shall amend— (1) section 230.251 of title 17, Code of Federal Regulations, to remove the requirement that the issuer not be subject to section 13 or 15(d) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq.) immediately before the offering; and (2) section 230.257 of title 17, Code of Federal Regulations, with respect to an offering described in section 230.251(a)(2) of title 17, Code of Federal Regulations, to deem any issuer that is subject to section 13 or 15(d) of the Securities Exchange Act of 1934 as having met the periodic and current reporting requirements of section 230.257 of title 17, Code of Federal Regulations, if such issuer meets the reporting requirements of section 13 of the Securities Exchange Act of 1934.

Passed the House of Representatives September 5, 2017. Karen L. Haas, Clerk.

tv_txt: IIB 115th CONGRESS 1st Session H. R. 2864 IN THE SENATE OF THE UNITED STATES September 6, 2017 Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs AN ACT To direct the Securities and Exchange Commission to allow certain issuers to be exempt from registration requirements, and for other purposes.

1. Application of exemption The Securities and Exchange Commission shall amend— (1) section 230.251 of title 17, Code of Federal Regulations, to remove the requirement that the issuer not be subject to section 13 or 15(d) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq.) immediately before the offering; and (2) section 230.257 of title 17, Code of Federal Regulations, with respect to an offering described in section 230.251(a)(2) of title 17, Code of Federal Regulations, to deem any issuer that is subject to section 13 or 15(d) of the Securities Exchange Act of 1934 as having met the periodic and current reporting requirements of section 230.257 of title 17, Code of Federal Regulations, if such issuer meets the reporting requirements of section 13 of the Securities Exchange Act of 1934.

Passed the House of Representatives September 5, 2017. Karen L. Haas, Clerk

tv_txt: IB Union Calendar No. 210 115th CONGRESS 1st Session H. R. 2864 [Report No. 115–292] IN THE HOUSE OF REPRESENTATIVES June 8, 2017 Ms. Sinema (for herself and Mr. Hollingsworth ) introduced the following bill; which was referred to the Committee on Financial Services September 5, 2017 Additional sponsors: Mr. Williams , Mr. Hill , Mr. Messer , and Mr. Sherman September 5, 2017 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed Strike out all after the enacting clause and insert the part printed in italic For text of introduced bill, see copy of bill as introduced on June 8, 2017 A BILL To direct the Securities and Exchange Commission to allow certain issuers to be exempt from registration requirements, and for other purposes.

1. Application of exemption The Securities and Exchange Commission shall amend— (1) section 230.251 of title 17, Code of Federal Regulations, to remove the requirement that the issuer not be subject to section 13 or 15(d) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq.) immediately before the offering; and (2) section 230.257 of title 17, Code of Federal Regulations, with respect to an offering described in section 230.251(a)(2) of title 17, Code of Federal Regulations, to deem any issuer that is subject to section 13 or 15(d) of the Securities Exchange Act of 1934 as having met the periodic and current reporting requirements of section 230.257 of title 17, Code of Federal Regulations, if such issuer meets the reporting requirements of section 13 of the Securities Exchange Act of 1934.

September 5, 2017 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed