H.R.686 - Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015114th Congress (2015-2016)
|Sponsor:||Rep. Huizenga, Bill [R-MI-2] (Introduced 02/03/2015)|
|Committees:||House - Financial Services|
|Committee Reports:||H. Rept. 114-400|
|Latest Action:||House - 01/28/2016 Placed on the Union Calendar, Calendar No. 303. (All Actions)|
This bill has the status Introduced
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Summary: H.R.686 — 114th Congress (2015-2016)All Information (Except Text)
Reported to House without amendment (01/28/2016)
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015
(Sec. 2) This bill amends the Securities Exchange Act of 1934 to exempt from its registration requirements certain merger and acquisition brokers and associated persons.
A merger and acquisition broker shall not be exempt from registration, however, if the broker: (1) receives, holds, transmits, or has custody of any funds or securities to be exchanged by parties to a transfer of ownership of an eligible privately held company; or (2) engages on behalf of an issuer in a public offering of securities that are either subject to mandatory registration, or with respect to which the issuer must file periodic information, documents, and reports.
Nothing in this Act shall be construed to limit any other authority of the Securities and Exchange Commission to exempt any person, or any class of persons, from any provision of this Act, including any related rule or regulation.