H.R.1965 - To amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes.112th Congress (2011-2012)
|Sponsor:||Rep. Himes, James A. [D-CT-4] (Introduced 05/24/2011)|
|Committees:||House - Financial Services|
|Latest Action:||11/07/2011 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 223. (All Actions)|
|Major Recorded Votes:||11/02/2011 : Passed House|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.1965 — 112th Congress (2011-2012)All Bill Information (Except Text)
Passed House amended (11/02/2011)
Amends the Securities Exchange Act of 1934 to increase from $1 million to $10 million the shareholder registration threshold for an issuer of securities.
Requires an issuer that is either a bank or a bank holding company to register a security with the Securities and Exchange Commission (SEC) if its assets exceed $10 million and include a certain class of equity security held of record by 2,000 or more persons.
Requires termination of a security registration in the case of a bank or a bank holding company if the number of holders of record of the class of security is reduced to less than 1,200. Repeals periodic reporting requirements also for such a bank or bank holding company.
Directs the Chief Economist and the Director of the Division of Corporation Finance of the SEC to conduct a joint cost-benefit analysis of shareholder registration thresholds.
Directs the SEC to issue final regulations to implement this Act not later than 1 year after its date of enactment.