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

The text of the bill below is as of Jun 8, 2017 (Introduced).


I

115th CONGRESS

1st Session

H. R. 2864

IN THE HOUSE OF REPRESENTATIVES

June 8, 2017

(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.

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