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Bill114th CongressFiled Feb 3, 2015Finance and Financial Sector
H.R. 686

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary reported to house without amendment (Jan 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.

What just happenedJan 28, 2016

Placed on the Union Calendar, Calendar No. 303.

Who’s behind it

Rep. Huizenga, Bill [R-MI-2](R-MI)Sponsor
10 cosponsors3 D7 R
Read on Congress.gov
10cosponsors1committees9actions4related bills6subjects
  1. Jan 28, 2016CalendarsH12410

    Placed on the Union Calendar, Calendar No. 303.

  2. Jan 28, 2016CommitteeH12200

    Reported by the Committee on Financial Services. H. Rept. 114-400.

    Financial Services Committee
  3. Jan 28, 2016Committee5000

    Reported by the Committee on Financial Services. H. Rept. 114-400.

    Financial Services Committee
  4. May 20, 2015Committee

    Ordered to be Reported by the Yeas and Nays: 36 - 24.

    Financial Services Committee
  5. May 20, 2015Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  6. Apr 29, 2015Committee

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

    Capital Markets Subcommittee
  7. Feb 3, 2015IntroReferralH11100

    Referred to the House Committee on Financial Services.

    Financial Services Committee
  8. Feb 3, 2015IntroReferralIntro-H

    Introduced in House

  9. Feb 3, 2015IntroReferral1000

    Introduced in House

Reported to House without amendmentJan 28, 201679

(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.

Introduced in HouseFeb 3, 2015

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015

Amends the Securities Exchange Act of 1934 to exempt from its registration requirements certain merger and acquisition brokers and associated persons.

Denies such registration exemption, however, to brokers who: (1) receive, hold, transmit, or have custody of any funds or securities to be exchanged by parties to a transfer of ownership of an eligible privately held company; or (2) engage 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.

Prohibits this Act from being construed as limiting 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.

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015 — Informed