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H.R. 2864 (115th): Improving Access to Capital Act


The text of the bill below is as of Sep 6, 2017 (Referred to Senate Committee). The bill was not enacted into law.

Summary of this bill

Source: Republican Policy Committee

H.R. 2864 would allow SEC reporting companies, which already meet the SEC’s ongoing disclosure requirements, to be able to take advantage of Regulation A+. The JOBS Act created a Regulation A+ offering exemption to allow small companies to raise up to $50 million online, directly from the public without a full SEC public offering. Regulation A+ offerings are publicly filed with the SEC, and allow investors and regulators a view into the company’s financial disclosures. The regulation did not allow companies that are currently reporting the SEC to take advantage of this type of offering exemption. H.R. 2864 would allow those companies to take advantage of ...


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