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Bill114th CongressFiled Feb 9, 2016Finance and Financial Sector
H.R. 4498

Helping Angels Lead Our Startups Act

Bill journey · stage 2 of 5

Under committee review

Filed
Comm.
Floor
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Law

What it doesSummary passed house without amendment (Apr 27, 2016)

(This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.)

Helping Angels Lead Our Startups Act or the HALOS Act

(Sec. 3) This bill directs the Securities and Exchange Commission (SEC) to amend Regulation D (governing the limited offer and sale of securities without registration under the Securities Act of 1933) to make the prohibition against general solicitation or general advertising inapplicable to events with specified kinds of sponsors (including angel investor groups not connected to broker-dealers or investment advisers) where:

  • presentations or communications are made by or on behalf of an issuer,
  • the advertising does not refer to any specific offering of securities by the issuer,
  • the sponsor does not engage in certain activities (such as offering investment recommendations or advice to attendees),
  • the sponsor does not receive compensation for the event which would require registration as a broker or dealer or as an investment advisor, and
  • no specific information regarding a securities offering is communicated (other than that the issuer is in the process of offering or planning to offer securities, including the type and amount of securities being offered).

This bill may only be construed as requiring the SEC to amend Regulation D with respect to presentations and communications, and not with respect to purchases or sales.

What just happenedApr 28, 2016

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Who’s behind it

Rep. Chabot, Steve [R-OH-1](R-OH)Sponsor
11 cosponsors4 D7 R
Read on Congress.gov
11cosponsors2committees19actions1amendments3related bills8subjects
  1. Apr 28, 2016IntroReferral

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Banking, Housing, and Urban Affairs Committee
  2. Apr 27, 2016FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  3. Apr 27, 2016FloorH37100

    On passage Passed by the Yeas and Nays: 325 - 89 (Roll no. 171). (text: CR H2037-2038)

  4. Apr 27, 2016Floor8000

    Passed/agreed to in House: On passage Passed by the Yeas and Nays: 325 - 89 (Roll no. 171).(text: CR H2037-2038)

  5. Apr 27, 2016FloorH8D000

    DEBATE - Pursuant to the provisions of H.Res. 701, the House proceeded with 10 minutes of debate on the Waters amendment.

  6. Apr 27, 2016FloorH8D000

    DEBATE - The House proceeded with one hour of debate on H.R. 4498.

  7. Apr 27, 2016FloorH8D000

    Rule provides for consideration of H.R. 4498 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. A specified amendment is in order.

  8. Apr 27, 2016FloorH30000

    Considered under the provisions of rule H. Res. 701. (consideration: CR H2037-2046)

  9. Apr 27, 2016FloorH1L220

    Rule H. Res. 701 passed House.

  10. Apr 26, 2016FloorH1L210

    Rules Committee Resolution H. Res. 701 Reported to House. Rule provides for consideration of H.R. 4498 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. A specified amendment is in order.

  11. Apr 19, 2016CalendarsH12410

    Placed on the Union Calendar, Calendar No. 389.

  12. Apr 19, 2016CommitteeH12200

    Reported by the Committee on Financial Services. H. Rept. 114-509.

    Financial Services Committee
  13. Apr 19, 2016Committee5000

    Reported by the Committee on Financial Services. H. Rept. 114-509.

    Financial Services Committee
  14. Mar 2, 2016Committee

    Ordered to be Reported by the Yeas and Nays: 44 - 13.

    Financial Services Committee
  15. Mar 2, 2016Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  16. Feb 9, 2016IntroReferralH11100

    Referred to the House Committee on Financial Services.

    Financial Services Committee
  17. Feb 9, 2016IntroReferralIntro-H

    Introduced in House

  18. Feb 9, 2016IntroReferral1000

    Introduced in House

  19. Dec 2, 2015Committee

    Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Introduction and Referral.

    Capital Markets Subcommittee
Passed House without amendmentApr 27, 201681

(This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.)

Helping Angels Lead Our Startups Act or the HALOS Act

(Sec. 3) This bill directs the Securities and Exchange Commission (SEC) to amend Regulation D (governing the limited offer and sale of securities without registration under the Securities Act of 1933) to make the prohibition against general solicitation or general advertising inapplicable to events with specified kinds of sponsors (including angel investor groups not connected to broker-dealers or investment advisers) where:

  • presentations or communications are made by or on behalf of an issuer,
  • the advertising does not refer to any specific offering of securities by the issuer,
  • the sponsor does not engage in certain activities (such as offering investment recommendations or advice to attendees),
  • the sponsor does not receive compensation for the event which would require registration as a broker or dealer or as an investment advisor, and
  • no specific information regarding a securities offering is communicated (other than that the issuer is in the process of offering or planning to offer securities, including the type and amount of securities being offered).

This bill may only be construed as requiring the SEC to amend Regulation D with respect to presentations and communications, and not with respect to purchases or sales.

Reported to House without amendmentApr 19, 201679

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

Helping Angels Lead Our Startups Act or the HALOS Act

(Sec. 3) This bill directs the Securities and Exchange Commission (SEC) to amend Regulation D (governing the limited offer and sale of securities without registration under the Securities Act of 1933) to make the prohibition against general solicitation or general advertising inapplicable to events with specified kinds of sponsors (including angel investor groups not connected to broker-dealers or investment advisers) where:

  • presentations or communications are made by or on behalf of an issuer,
  • the advertising does not refer to any specific offering of securities by the issuer,
  • the sponsor does not engage in certain activities (such as offering investment recommendations or advice to attendees),
  • the sponsor does not receive compensation for the event which would require registration as a broker or dealer or as an investment advisor, and
  • no specific information regarding a securities offering is communicated (other than that the issuer is in the process of offering or planning to offer securities, including the type and amount of securities being offered).

This bill may only be construed as requiring the SEC to amend Regulation D with respect to presentations and communications, and not with respect to purchases or sales.

Introduced in HouseFeb 9, 2016

Helping Angels Lead Our Startups Act or the HALOS Act

This bill directs the Securities and Exchange Commission to amend Regulation D (governing the limited offer and sale of securities without registration under the Securities Act of 1933) to make the prohibition against general solicitation or general advertising inapplicable to events with specified kinds of sponsors (including angel investor groups not connected to broker-dealers or investment advisers) where:

  • presentations or communications are made by or on behalf of an issuer,
  • the advertising does not refer to any specific offering of securities by the issuer,
  • the sponsor does not engage in certain activities (such as offering investment recommendations or advice to attendees),
  • the sponsor does not receive compensation for the event which would require registration as a broker or dealer or as an investment advisor, and
  • no specific information regarding a securities offering is communicated (other than that the issuer is in the process of offering or planning to offer securities, including the type and amount of securities being offered).

This bill may only be construed as requiring the SEC to amend Regulation D with respect to presentations and communications, and not with respect to purchases or sales.

Helping Angels Lead Our Startups Act — Informed