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Bill115th CongressFiled Jan 3, 2017Finance and Financial Sector
H.R. 79

HALOS Act

Bill journey · stage 2 of 5

Under committee review

Filed
Comm.
Floor
Both
Law

What it doesSummary passed house without amendment (Jan 10, 2017)

(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 revise Regulation D, which exempts certain offerings from SEC registration requirements but prohibits general solicitation or general advertising with respect to such offerings. Specifically, this prohibition shall not apply to events with specified kinds of sponsors -- including "angel investor groups" unconnected to broker-dealers or investment advisers -- where presentations or communications are made by or on behalf of an issuer, but:

  • the advertising does not refer to any specific offering of securities by the issuer;
  • the sponsor does not provide investment recommendation or advice to attendees, engage in investment negotiations with attendees, charge certain fees, or receive certain compensation; and
  • no specific information regarding a securities offering is communicated beyond the type and amount of securities being offered, the amount of securities already subscribed for, and the intended use of proceeds from the offering.

What just happenedJan 11, 2017

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
15 cosponsors5 D10 R
Read on Congress.gov
15cosponsors2committees25actions2amendments7related bills8subjects
  1. Jan 11, 2017IntroReferral

    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. Jan 10, 2017FloorH38310

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

  3. Jan 10, 2017FloorH37100

    On passage Passed by the Yeas and Nays: 344 - 73 (Roll no. 31).

  4. Jan 10, 2017Floor8000

    Passed/agreed to in House: On passage Passed by the Yeas and Nays: 344 - 73 (Roll no. 31).

  5. Jan 10, 2017FloorH35000

    The previous question was ordered pursuant to the rule.

  6. Jan 10, 2017FloorH32600

    The House rose from the Committee of the Whole House on the state of the Union to report H.R. 79.

  7. Jan 10, 2017FloorH32050

    The House resolved into Committee of the Whole House on the state of the Union for further consideration.

  8. Jan 10, 2017FloorH30000

    Considered as unfinished business. (consideration: CR H280-283)

  9. Jan 10, 2017FloorH32700

    Committee of the Whole House on the state of the Union rises leaving H.R. 79 as unfinished business.

  10. Jan 10, 2017FloorH32341

    On motion that the Committee rise Agreed to by voice vote.

  11. Jan 10, 2017FloorH32340

    Mr. Huizenga moved that the Committee rise.

  12. Jan 10, 2017FloorH8D000

    POSTPONED PROCEEDINGS - At the conclusion of debate on the Clay amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the noes had prevailed. Mr. Clay demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.

  13. Jan 10, 2017FloorH8D000

    DEBATE - Pursuant to the provisions of H.Res. 33, the Committee of the Whole proceeded with 10 minutes of debate on the Clay Part B amendment No. 2.

  14. Jan 10, 2017FloorH8D000

    POSTPONED PROCEEDINGS - At the conclusion of debate on the Velazquez amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the noes had prevailed. Ms. Velazquez demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.

  15. Jan 10, 2017FloorH8D000

    DEBATE - Pursuant to the provisions of H.Res. 33, the Committee of the Whole proceeded with 10 minutes of debate on the Velazquez Part B amendment No. 1.

  16. Jan 10, 2017FloorH8D000

    GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 79.

  17. Jan 10, 2017FloorH32400

    The Speaker designated the Honorable Mike Bost to act as Chairman of the Committee.

  18. Jan 10, 2017FloorH32020

    House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 33 and Rule XVIII.

  19. Jan 10, 2017FloorH8D000

    The resolution provides for both bills to be considered under a structured rule for one hour of general debate. The resolution also provides one motion to recommit with or without instructions on both H.R. 5 and H.R. 79.

  20. Jan 10, 2017FloorH30000

    Considered under the provisions of rule H. Res. 33. (consideration: CR H259-266; text of measure as reported in House: CR H264)

  21. Jan 10, 2017FloorH1L220

    Rule H. Res. 33 passed House.

  22. Jan 9, 2017FloorH1L210

    Rules Committee Resolution H. Res. 33 Reported to House. The resolution provides for both bills to be considered under a structured rule for one hour of general debate. The resolution also provides one motion to recommit with or without instructions on both H.R. 5 and H.R. 79.

  23. Jan 3, 2017IntroReferralH11100

    Referred to the House Committee on Financial Services.

    Financial Services Committee
  24. Jan 3, 2017IntroReferralIntro-H

    Introduced in House

  25. Jan 3, 2017IntroReferral1000

    Introduced in House

Passed House without amendmentJan 10, 201781

(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 revise Regulation D, which exempts certain offerings from SEC registration requirements but prohibits general solicitation or general advertising with respect to such offerings. Specifically, this prohibition shall not apply to events with specified kinds of sponsors -- including "angel investor groups" unconnected to broker-dealers or investment advisers -- where presentations or communications are made by or on behalf of an issuer, but:

  • the advertising does not refer to any specific offering of securities by the issuer;
  • the sponsor does not provide investment recommendation or advice to attendees, engage in investment negotiations with attendees, charge certain fees, or receive certain compensation; and
  • no specific information regarding a securities offering is communicated beyond the type and amount of securities being offered, the amount of securities already subscribed for, and the intended use of proceeds from the offering.
Introduced in HouseJan 3, 2017

Helping Angels Lead Our Startups Act or the HALOS Act

This bill directs the Securities and Exchange Commission (SEC) to revise Regulation D, which exempts certain offerings from SEC registration requirements but prohibits general solicitation or general advertising with respect to such offerings. Specifically, this prohibition shall not apply to events with specified kinds of sponsors—including "angel investor groups" unconnected to broker-dealers or investment advisers—where presentations or communications are made by or on behalf of an issuer, but:

  • the advertising does not refer to any specific offering of securities by the issuer;
  • the sponsor does not provide investment recommendation or advice to attendees, engage in investment negotiations with attendees, charge certain fees, or receive certain compensation; and
  • no specific information regarding a securities offering is communicated beyond the type and amount of securities being offered, the amount of securities already subscribed for, and the intended use of proceeds from the offering.
HALOS Act — Informed