United States 114th Congress Status: Died 1 D cosponsors

HR 3921 — Hedge Fund Sunshine Act of 2015

Last action — Referred to the House Committee on Financial Services.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 114th Congress. It reached “In Committee” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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

Hedge Fund Sunshine Act of 2015 This bill amends the Securities Exchange Act of 1934 to require that hedge funds send specified information to both the issuer of a security and each exchange where the security is rated within five (instead of 10) days of acquiring 1% (instead of 5%) of the beneficial ownership of an equity security, and also to file specified information required by the Securities and Exchange Commission (SEC). For purposes of determining such beneficial ownership, a hedge fund shall include any equity security with respect to which it owns a derivative instrument that includes the opportunity to profit or share in any profit derived from an increase in the value of such equity security. In addition, a hedge fund must file a quarterly report with the SEC if it: (1) has $100 million or more in assets under management, and (2) is the beneficial owner of more than 1% of a class of any security. The SEC shall make all reports received under this Act publicly available on its website.

Bill Text

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

Read HR 3921 on the official United States source →

Action History

  1. Referred to the House Committee on Financial Services.

  2. Introduced in House

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.

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Subjects

finance
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Frequently asked questions

What does HR 3921 do?
Hedge Fund Sunshine Act of 2015 This bill amends the Securities Exchange Act of 1934 to require that hedge funds send specified information to both the issuer of a security and each exchange where the security is rated within five (instead of 10) days of acquiring 1% (instead of 5%) of the beneficial ownership of an equity security, and also to file specified information required by the Securities and Exchange Commission (SEC). For purposes of determining such beneficial ownership, a hedge fund shall include any equity security with respect to which it owns a derivative instrument that includes the opportunity to profit or share in any profit derived from an increase in the value of such equity security. In addition, a hedge fund must file a quarterly report with the SEC if it: (1) has $100 million or more in assets under management, and (2) is the beneficial owner of more than 1% of a class of any security. The SEC shall make all reports received under this Act publicly available on its website.
Who sponsors HR 3921?
HR 3921 is sponsored by Nydia Velazquez (D).
What is the current status of HR 3921?
This bill died with 114th Congress. It reached “In Committee” 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 3921?
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Last checked for changes about 15 hours ago · updated continuously

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