California 2015-2016 Regular Session Status: Enacted

AB 667 — Broker-dealers: exemptions: finders.

Last action — Chaptered by Secretary of State - Chapter 743, Statutes of 2015.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Assembly
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 24, 2015. Enacted.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 8 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Under existing law, the Corporate Securities Law of 1968, the Commissioner of Business Oversight regulates the activities of a broker-dealer which is defined as, among other things, any person engaged in the business of effecting securities transactions in California for the account of others or his or her own account, and it specifies those persons or entities excluded from the definition. Existing law requires, among other things, that a broker-dealer apply for and secure a certificate authorizing that person to act in that capacity, unless the person is exempted from this requirement, as prescribed. Existing law prohibits a person acting on behalf of a licensed broker-dealer or an issuer, from effecting any transaction in, or inducing or attempting to induce the purchase or sale of, any security in this state unless the broker-dealer and agent have complied with certain rules. This bill would exempt from those provisions an individual who is a finder, as defined, who satisfies specified requirements, including, among other things, filing an initial statement of information with the Commissioner of Business Oversight and paying a filing fee.

Bill Text

Action History

  1. Chaptered by Secretary of State - Chapter 743, Statutes of 2015.

  2. Approved by the Governor.

  3. Enrolled and presented to the Governor at 4 p.m.

  4. Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 78. Noes 0. Page 3016.).

  5. Assembly Rule 77 suspended. (Ayes 52. Noes 28. Page 2990.)

  6. In Assembly. Concurrence in Senate amendments pending. May be considered on or after September 10 pursuant to Assembly Rule 77.

  7. Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 2570.).

  8. Read second time. Ordered to third reading.

  9. From committee: Do pass. (Ayes 7. Noes 0.) (August 27).

  10. In committee: Referred to APPR. suspense file.

  11. Read second time and amended. Re-referred to Com. on APPR.

  12. From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (July 1).

  13. Referred to Com. on B. & F.I.

  14. In Senate. Read first time. To Com. on RLS. for assignment.

  15. Read third time. Passed. Ordered to the Senate. (Ayes 76. Noes 0. Page 1815.)

  16. Read second time. Ordered to third reading.

  17. Received May 29 pursuant to Joint Rule 61(a)(5).

  18. From committee: Do pass. (Ayes 17. Noes 0.) (May 28).

  19. In committee: Set, second hearing. Referred to APPR. suspense file.

  20. In committee: Set, first hearing. Hearing canceled at the request of author.

  21. From committee: Do pass and re-refer to Com. on APPR. (Ayes 11. Noes 1.) (April 20). Re-referred to Com. on APPR.

  22. Re-referred to Com. on B. & F.

  23. From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.

  24. Referred to Com. on B. & F.

  25. From printer. May be heard in committee March 27.

  26. Read first time. To print.

Sponsors

  • Wagner · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 121 not signed on · 1 voted No

Sponsors (1)

  • Wagner

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"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

Votes

AB 667 WAGNER Concurrence in Senate Amendments

Passed 78 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 69002
Democratic 4000
Republican 5000
Total 78002
% of votes cast 98%0%0%3%
How each member voted (80)
Member Party Vote
Achadjian — Yea
Baker — Yea
Bigelow — Yea
Bloom — Yea
Brough — Yea
Brown — Yea
Kim — Yea
Low — Yea
Maienschein — Yea
Mathis — Yea
Obernolte — Yea
Perea — Yea
Ridley-Thomas — Not Voting
Wagner — Yea
Waldron — Yea
Wilk — Yea
Eggman — Yea
Cooley — Yea
Cooper — Yea
Burke — Yea
Chang — Yea
Salas — Yea
Gomez — Yea
Gordon — Yea
Chau — Yea
Chiu — Yea
Chu — Yea
Levine — Yea
Linder — Yea
Mayes — Yea
McCarty — Yea
Nazarian — Yea
O'Donnell — Yea
Olsen — Yea
Rendon — Yea
Rodriguez — Yea
Thurmond — Yea
Weber — Yea
Williams — Yea
Gatto — Yea
Gray — Yea
Hadley — Yea
Atkins — Yea
Campos — Yea
Bonilla — Yea
Harper — Not Voting
Lopez — Yea
Holden — Yea
Jones-Sawyer — Yea
Alejo — Yea
Chávez — Yea
Dababneh — Yea
Daly — Yea
Dodd — Yea
Medina — Yea
Melendez — Yea
Mullin — Yea
Quirk — Yea
Santiago — Yea
Steinorth — Yea
Ting — Yea
Wood — Yea
Frazier — Yea
Beth Gaines — Yea
Cristina Garcia — Yea
Eduardo Garcia — Yea
Jim Patterson — Yea
Lorena Gonzalez — Yea
Mark Stone — Yea
Roger Hernández — Yea
Travis Allen — Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Gipson, Mike A. Democratic Yea
Irwin, Jacqui Democratic Yea
Dahle, Megan Republican Yea
Gallagher, James Republican Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea
Lackey, Tom Republican Yea

Official roll call →

3rd Reading AB667 Wagner By Berryhill

Passed 39 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 36001
Democratic 3000
Total 39001
% of votes cast 98%0%0%3%
How each member voted (40)
Member Party Vote
Anderson — Yea
Bates — Yea
Hueso — Not Voting
Lara — Yea
Leyva — Yea
Moorlach — Yea
Nielsen — Yea
Pan — Yea
Vidak — Yea
Wolk — Yea
Cannella — Yea
Galgiani — Yea
Glazer — Yea
Hall — Yea
Allen — Yea
Hancock — Yea
Mitchell — Yea
De León — Yea
Runner — Yea
Hernandez — Yea
Hertzberg — Yea
Beall — Yea
Block — Yea
Hill — Yea
Huff — Yea
Leno — Yea
Liu — Yea
Mendoza — Yea
Monning — Yea
Morrell — Yea
Pavley — Yea
Roth — Yea
Wieckowski — Yea
Fuller — Yea
Beth Gaines — Yea
Bill Berryhill — Yea
Mark Stone — Yea
Jackson, Corey A. Democratic Yea
McGuire, Mike Democratic Yea
Nguyen, Stephanie Democratic Yea

Official roll call →

Do pass

Passed 7 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 7000
Total 7000
% of votes cast 100%0%0%0%
How each member voted (7)
Member Party Vote
Bates — Yea
Hill — Yea
Mendoza — Yea
Nielsen — Yea
Beall — Yea
Lara — Yea
Leyva — Yea

Official roll call →

Placed on suspense file

Passed 7 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 7000
Total 7000
% of votes cast 100%0%0%0%
How each member voted (7)
Member Party Vote
Hill — Yea
Leyva — Yea
Nielsen — Yea
Bates — Yea
Beall — Yea
Lara — Yea
Mendoza — Yea

Official roll call →

AB 667 WAGNER Assembly Third Reading

Passed 76 Yea · 0 Nay · 4 Other
Party YeaNayPresentNot Voting
Unaffiliated 67003
Democratic 4000
Republican 5001
Total 76004
% of votes cast 95%0%0%5%
How each member voted (80)
Member Party Vote
Achadjian — Yea
Baker — Yea
Bloom — Yea
Brough — Yea
Brown — Yea
Harper — Not Voting
Levine — Yea
Maienschein — Yea
Mathis — Yea
Medina — Yea
Nazarian — Yea
Olsen — Yea
Rendon — Yea
Santiago — Yea
Ting — Yea
Wagner — Yea
Wilk — Yea
Wood — Yea
Eggman — Yea
Chávez — Not Voting
Daly — Yea
Burke — Yea
Campos — Yea
Salas — Yea
Chang — Yea
Bonilla — Yea
Frazier — Yea
Gomez — Yea
Gonzalez — Yea
Gray — Yea
Gordon — Yea
Hadley — Yea
Lopez — Yea
Holden — Yea
Kim — Yea
Linder — Yea
Low — Yea
Mayes — Yea
Chiu — Yea
Alejo — Yea
Bigelow — Yea
Cooley — Yea
Cooper — Yea
Dababneh — Yea
Dodd — Yea
McCarty — Yea
Melendez — Yea
Mullin — Yea
O'Donnell — Yea
Obernolte — Yea
Perea — Yea
Ridley-Thomas — Yea
Rodriguez — Yea
Thurmond — Yea
Waldron — Yea
Weber — Yea
Williams — Yea
Atkins — Yea
Chau — Yea
Chu — Yea
Jones-Sawyer — Not Voting
Quirk — Yea
Steinorth — Yea
Gatto — Yea
Beth Gaines — Yea
Cristina Garcia — Yea
Eduardo Garcia — Yea
Mark Stone — Yea
Roger Hernández — Yea
Travis Allen — Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Gipson, Mike A. Democratic Yea
Irwin, Jacqui Democratic Yea
Dahle, Megan Republican Yea
Gallagher, James Republican Yea
Grove, Shannon Republican Not Voting
Jones, Brian W. Republican Yea
Lackey, Tom Republican Yea
Patterson, Joe Republican Yea

Official roll call →

Do pass.

Passed 17 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 13000
Democratic 2000
Republican 2000
Total 17000
% of votes cast 100%0%0%0%
How each member voted (17)
Member Party Vote
Bigelow — Yea
Quirk — Yea
Wagner — Yea
Wood — Yea
Eggman — Yea
Gordon — Yea
Holden — Yea
Chang — Yea
Daly — Yea
Rendon — Yea
Weber — Yea
Gomez — Yea
Eduardo Garcia — Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Gallagher, James Republican Yea
Jones, Brian W. Republican Yea

Official roll call →

Subjects

finance
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Frequently asked questions

What does AB 667 do?
Under existing law, the Corporate Securities Law of 1968, the Commissioner of Business Oversight regulates the activities of a broker-dealer which is defined as, among other things, any person engaged in the business of effecting securities transactions in California for the account of others or his or her own account, and it specifies those persons or entities excluded from the definition. Existing law requires, among other things, that a broker-dealer apply for and secure a certificate authorizing that person to act in that capacity, unless the person is exempted from this requirement, as prescribed. Existing law prohibits a person acting on behalf of a licensed broker-dealer or an issuer, from effecting any transaction in, or inducing or attempting to induce the purchase or sale of, any security in this state unless the broker-dealer and agent have complied with certain rules. This bill would exempt from those provisions an individual who is a finder, as defined, who satisfies specified requirements, including, among other things, filing an initial statement of information with the Commissioner of Business Oversight and paying a filing fee.
Who sponsors AB 667?
AB 667 is sponsored by Wagner.
What is the current status of AB 667?
This bill has been enacted into law. Introduced February 24, 2015. Enacted.
Where can I track AB 667?
Track AB 667 free on One Click Politics — get push/email alerts when it moves.

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