To amend the Securities Exchange Act of 1934 to exempt from registration brokers performing services in connection with the transfer of ownership of smaller privately held companies.
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015
(Sec. 2) This bill amends the Securities Exchange Act of 1934 to exempt from its registration requirements certain merger and acquisition brokers and associated persons.
A merger and acquisition broker shall not be exempt from registration, however, if the broker: (1) receives, holds, transmits, or has custody of any funds or securities to be exchanged by parties to a transfer of ownership of an eligible privately held company; or (2) engages 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.
Nothing in this Act shall be construed to limit any other authority of the Securities and Exchange Commission to exempt any person, or any class of persons, from any provision of this Act, including any related rule or regulation.
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.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Placed on the Union Calendar, Calendar No. 693.
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: 36 - 24.
Reported by the Committee on Financial Services. H. Rept. 114-400.
Reported by the Committee on Financial Services. H. Rept. 114-400.
Placed on the Union Calendar, Calendar No. 303.
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