Summary: H.R.432 — 114th Congress (2015-2016)All Information (Except Text)

Bill summaries are authored by CRS.

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Passed House without amendment (07/14/2015)

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

SBIC Advisers Relief Act of 2015

(Sec. 2) Amends the Investment Advisers Act of 1940 to exempt specified advisers of small business investment companies (SBICs) from certain: (1) Securities and Exchange Commission (SEC) registration requirements with respect to the provision of investment advice relating to venture capital funds, and (2) SEC registration and reporting requirements with respect to assets under management of private funds.

(Sec. 4) Provides the same exemption with respect to any state or local law requiring the registration, licensing, or qualifications of investment advisers.