United States 113th Congress Status: Died 1 R cosponsors

HR 4570 — Private Placement Improvement Act of 2014

Last action — Ordered to be Reported by the Yeas and Nays: 31 - 28.

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  1. ✓
    Introduced
  2. Died in session

This bill died with 113th Congress. It reached “Introduced” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Private Placement Improvement Act of 2014 - Directs the Securities and Exchange Commission (SEC) to revise the filing requirements of Regulation D to require an issuer that offers or sells securities in reliance upon a certain exemption from registration (for limited offers and sales without regard to the dollar amount of the offering [Rule 506]) to file, no earlier than the date of first sale of such securities, a single notice of sales containing the information required by Form D for each new offering of securities. Prohibits the SEC from: (1) requiring the issuer to file any notice of sales containing the information required by Form D except for this single notice; (2) conditioning the availability of the Rule 506 exemption upon the filing of a Form D or similar report; or (3) requiring issuers to submit written general solicitation materials in connection with a limited offering subject to Rule 506, except when it requests such materials pursuant to specified authority. Directs the SEC to revise a specified rule, regarding a Rule 506 offering of a private fund, to characterize as an accredited investor a "knowledgeable employee" of that private fund or the fund's investment adviser. Prohibits the SEC from extending to private funds the requirements governing investment company sales literature.

Bill Text

We don't have the full text on file for this bill yet.

Read HR 4570 on the official United States source →

Action History

  1. Ordered to be Reported by the Yeas and Nays: 31 - 28.

  2. Committee Consideration and Mark-up Session Held.

  3. Referred to the House Committee on Financial Services.

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

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
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Frequently asked questions

What does HR 4570 do?
Private Placement Improvement Act of 2014 - Directs the Securities and Exchange Commission (SEC) to revise the filing requirements of Regulation D to require an issuer that offers or sells securities in reliance upon a certain exemption from registration (for limited offers and sales without regard to the dollar amount of the offering [Rule 506]) to file, no earlier than the date of first sale of such securities, a single notice of sales containing the information required by Form D for each new offering of securities. Prohibits the SEC from: (1) requiring the issuer to file any notice of sales containing the information required by Form D except for this single notice; (2) conditioning the availability of the Rule 506 exemption upon the filing of a Form D or similar report; or (3) requiring issuers to submit written general solicitation materials in connection with a limited offering subject to Rule 506, except when it requests such materials pursuant to specified authority. Directs the SEC to revise a specified rule, regarding a Rule 506 offering of a private fund, to characterize as an accredited investor a "knowledgeable employee" of that private fund or the fund's investment adviser. Prohibits the SEC from extending to private funds the requirements governing investment company sales literature.
Who sponsors HR 4570?
HR 4570 is sponsored by Scott Garrett (R).
What is the current status of HR 4570?
This bill died with 113th Congress. It reached “Introduced” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 4570?
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Last checked for changes about 11 hours ago · updated continuously

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