Private Placement Improvement Act of 2016
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HR 4852 — Private Placement Improvement Act of 2016
Last action — Placed on the Union Calendar, Calendar No. 562.
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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Died in session
This bill died with 114th 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 2016 This bill directs the Securities and Exchange Commission (SEC) to revise the filing requirements of Regulation D (which provides exemptions from securities registration requirements) 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 15 days after the date of first sale of such securities, a single notice of sales containing the information required by Form D (used to file a notice of an exempt offering of securities under Regulation D) for each new offering of securities. The SEC shall not: (1) require the issuer to file any notice of sales containing the information required by Form D except for this single notice; (2) condition the availability of the Rule 506 exemption upon the filing of a Form D or similar report; or (3) require 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. The SEC shall 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. The SEC shall not extend 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 4852 on the official United States source →Action History
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Placed on the Union Calendar, Calendar No. 562.
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Reported (Amended) by the Committee on Financial Services. H. Rept. 114-726.
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Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 26.
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Committee Consideration and Mark-up Session Held.
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Committee Consideration and Mark-up Session Held.
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Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
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Referred to the House Committee on Financial Services.
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Introduced in House
Sponsors
- Scott Garrett · Primary
Sponsorship breakdown
Export CSV (upgrade) →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.
Show all 546 →"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.
Subjects
Frequently asked questions
- What does HR 4852 do?
- Private Placement Improvement Act of 2016 This bill directs the Securities and Exchange Commission (SEC) to revise the filing requirements of Regulation D (which provides exemptions from securities registration requirements) 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 15 days after the date of first sale of such securities, a single notice of sales containing the information required by Form D (used to file a notice of an exempt offering of securities under Regulation D) for each new offering of securities. The SEC shall not: (1) require the issuer to file any notice of sales containing the information required by Form D except for this single notice; (2) condition the availability of the Rule 506 exemption upon the filing of a Form D or similar report; or (3) require 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. The SEC shall 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. The SEC shall not extend to private funds the requirements governing investment company sales literature.
- Who sponsors HR 4852?
- HR 4852 is sponsored by Scott Garrett (R).
- What is the current status of HR 4852?
- This bill died with 114th 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 4852?
- Track HR 4852 free on One Click Politics — get push/email alerts when it moves.
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