To amend the Securities Exchange Act of 1934 to provide for a notice-filing registration procedure for brokers performing services in connection with the transfer of ownership of smaller privately held companies and to provide for regulation appropriate to the limited scope of the activities of such brokers.
Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2014 - Amends the Securities Exchange Act of 1934 to exempt from its registration requirements certain merger and acquisition (M&A) brokers and associated persons.
Denies such registration exemption, however, to brokers who: (1) receive, hold, transmit, or have custody of any funds or securities to be exchanged by parties to a transfer of ownership of an eligible privately held company; or (2) engage on behalf of an issuer in a public offering of securities that are either subject to mandatory registration, or with respect to which the issuer must file periodic information, documents, and reports.
Prohibits the construction of this Act to limit any other authority of the Securities and Exchange Commission (SEC) to exempt any person, or any class of persons, from any provision of this Act, including any related rule or regulation.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 597.
Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 57 - 0.
Reported (Amended) by the Committee on Financial Services. H. Rept. 113-326.
Reported (Amended) by the Committee on Financial Services. H. Rept. 113-326.
Placed on the Union Calendar, Calendar No. 243.
Mr. Garrett moved to suspend the rules and pass the bill, as amended. (consideration: CR H192)
Considered under suspension of the rules. (consideration: CR H192-196)
DEBATE - The House proceeded with forty minutes of debate on H.R. 2274.
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At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H198-199)
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 422 - 0 (Roll no. 14).(text: CR H192-193)
Roll Call #14 (House)On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 422 - 0 (Roll no. 14). (text: CR H192-193)
Roll Call #14 (House)The title of the measure was amended. Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.