To clarify that family offices and family clients are accredited investors, and for other purposes.
Family Office Technical Correction Act of 2017
(Sec. 2) This bill provides that family offices are accredited investors as set forth by the Securities and Exchange Commission in Regulation D, allowing such investors to purchase certain unregistered securities. (A family office is a company that has no clients other than family clients, is wholly owned and exclusively controlled by family clients, and does not hold itself out to the public as an investment advisor.)
A family office is an accredited investor if:
Placed on the Union Calendar, Calendar No. 612.
Message on House action received in Senate and at desk: House amendments to Senate bill.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 60 - 0.
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-362.
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-362.
Placed on the Union Calendar, Calendar No. 266.
Mr. Barr moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H8097-8099)
DEBATE - The House proceeded with forty minutes of debate on H.R. 3972.
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Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H8097)
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8097)
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.