To amend the Investment Advisers Act of 1940 to prevent duplicative regulation of advisers of small business investment companies.
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
SBIC Advisers Relief Act of 2015
(Sec. 2) Amends the Investment Advisers Act of 1940 to exempt specified advisers of small business investment companies (SBICs) from certain: (1) Securities and Exchange Commission (SEC) registration requirements with respect to the provision of investment advice relating to venture capital funds, and (2) SEC registration and reporting requirements with respect to assets under management of private funds.
(Sec. 4) Provides the same exemption with respect to any state or local law requiring the registration, licensing, or qualifications of investment advisers.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Became Public Law No: 114-94.
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 by the Yeas and Nays: 53 - 0.
Reported by the Committee on Financial Services. H. Rept. 114-199.
Placed on the Union Calendar, Calendar No. 148.
Reported by the Committee on Financial Services. H. Rept. 114-199.
Mr. Luetkemeyer moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H5140-5142)
DEBATE - The House proceeded with forty minutes of debate on H.R. 432.
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Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H5140)
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H5140)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.