There are 6 versions of this bill. View text

Click the check-box to add or remove the section, click the text link to scroll to that section.
Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (6)

Short Titles

Short Titles as Enacted

SEC Small Business Advocate Act of 2016

Short Titles - House of Representatives

Short Titles as Passed House

SEC Small Business Advocate Act of 2016

Short Titles as Reported to House

SEC Small Business Advocate Act of 2015

Short Titles as Introduced

SEC Small Business Advocate Act of 2015

Short Titles - Senate

Short Titles as Passed Senate

SEC Small Business Advocate Act of 2016

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Securities Exchange Act of 1934 to establish an Office of the Advocate for Small Business Capital Formation and a Small Business Capital Formation Advisory Committee, and for other purposes.


Actions Overview (8)

Date Actions Overview
12/16/2016Became Public Law No: 114-284. (TXT | PDF)
12/16/2016Signed by President.
12/15/2016Presented to President.
12/10/2016Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.
12/10/2016Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.(consideration: CR S7108)
02/01/2016Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H379-381)
02/01/2016Reported (Amended) by the Committee on Financial Services. H. Rept. 114-408.
10/21/2015Introduced in House

All Actions (20)

Date Chamber All Actions
12/16/2016Became Public Law No: 114-284. (TXT | PDF)
12/16/2016Signed by President.
12/15/2016HousePresented to President.
12/12/2016SenateMessage on Senate action sent to the House.
12/10/2016SenatePassed Senate without amendment by Unanimous Consent.
12/10/2016SenateSenate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent. (consideration: CR S7108)
02/02/2016SenateReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
02/01/2016-3:40pmHouseMotion to reconsider laid on the table Agreed to without objection.
02/01/2016-3:40pmHouseOn motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H379-381)
02/01/2016-3:29pmHouseDEBATE - The House proceeded with forty minutes of debate on H.R. 3784.
02/01/2016-3:29pmHouseConsidered under suspension of the rules. (consideration: CR H379-382)
02/01/2016-3:29pmHouseMr. Garrett moved to suspend the rules and pass the bill, as amended.
02/01/2016HousePlaced on the Union Calendar, Calendar No. 311.
02/01/2016HouseReported (Amended) by the Committee on Financial Services. H. Rept. 114-408.
12/09/2015HouseOrdered to be Reported (Amended) by the Yeas and Nays: 56 - 0.
Action By: Committee on Financial Services
12/09/2015HouseCommittee Consideration and Mark-up Session Held.
Action By: Committee on Financial Services
12/08/2015HouseCommittee Consideration and Mark-up Session Held.
Action By: Committee on Financial Services
12/02/2015HouseHearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Action By: House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises
10/21/2015HouseReferred to the House Committee on Financial Services.
10/21/2015HouseIntroduced in House

Cosponsors (9)


Committees (2)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
House Financial Services10/21/2015 Referred to
12/09/2015 Markup by
02/01/2016 Reported by H. Rept. 114-408
House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises12/02/2015 Hearings by
Senate Banking, Housing, and Urban Affairs02/02/2016 Referred to
12/10/2016 Discharged from

A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-congress measures.


Latest Summary (4)

There are 4 summaries for H.R.3784. View summaries

Shown Here:
Public Law No: 114-284 (12/16/2016)

(This measure has not been amended since it was passed by the House on February 1, 2016. The summary of that version is repeated here.)

SEC Small Business Advocate Act of 2016

(Sec. 2) This bill amends the Securities Exchange Act of 1934 to establish within the Securities and Exchange Commission (SEC) an Office of the Advocate for Small Business Capital Formation.

The Advocate for Small Business Capital Formation shall:

  • assist small businesses and small business investors in resolving significant problems they may have with the SEC or with self-regulatory organizations;
  • identify areas in which such businesses and investors would benefit from changes in SEC regulations or the rules of such organizations;
  • identify problems that small businesses have with securing access to capital, including any unique challenges to minority-owned and women-owned small businesses;
  • analyze the potential impact on such businesses and investors of proposed SEC regulations and proposed rules that are likely to have a significant economic impact on small businesses and small business capital formation;
  • conduct outreach to such businesses and investors to solicit views on relevant capital formation issues;
  • propose to the SEC changes in its regulations or orders, and propose to Congress legislative, administrative, or personnel changes, to mitigate problems identified and to promote the interests of such businesses and investors;
  • consult with the Investor Advocate on such proposals and advise the Investor Advocate on small business-related issues;
  • submit annual reports on its activities to specified congressional committees; and
  • be responsible for planning, organizing, and executing the annual Government-Business Forum on Small Business Capital Formation.

The bill also establishes the Small Business Capital Formation Advisory Committee, which shall provide the SEC with advice on SEC rules, regulations, and policies regarding its mission of protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation, as they relate to:

  • capital raising by emerging, privately held small businesses and publicly traded companies with less than $250 million in public market capitalization through securities offerings;
  • trading in the securities of such businesses and companies; and
  • public reporting and corporate governance requirements of such businesses and companies.

The SEC shall assess the committee's recommendations and disclose any action it intends to take with respect to such recommendations.