To clarify the definition of general solicitation under Federal securities law.
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
Helping Angels Lead Our Startups Act or the HALOS Act
(Sec. 3) This bill directs the Securities and Exchange Commission (SEC) to revise Regulation D, which exempts certain offerings from SEC registration requirements but prohibits general solicitation or general advertising with respect to such offerings. Specifically, this prohibition shall not apply to events with specified kinds of sponsors -- including "angel investor groups" unconnected to broker-dealers or investment advisers -- where presentations or communications are made by or on behalf of an issuer, but:
Committee on Appropriations Senate Subcommittee on Financial Services and General Government. Hearings held on the subject prior to measure being received from the House. Hearings printed: S. Hrg. 115-191.
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-108.
Motion to reconsider laid on the table Agreed to without objection.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 230.
Message on House action received in Senate and at desk: House amendments to Senate bill.
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-354.
Considered under the provisions of rule H. Res. 33. (consideration: CR H259-266; text of measure as reported in House: CR H264)
The resolution provides for both bills to be considered under a structured rule for one hour of general debate. The resolution also provides one motion to recommit with or without instructions on both H.R. 5 and H.R. 79.
House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 33 and Rule XVIII.
The Speaker designated the Honorable Mike Bost to act as Chairman of the Committee.
GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 79.
DEBATE - Pursuant to the provisions of H.Res. 33, the Committee of the Whole proceeded with 10 minutes of debate on the Velazquez Part B amendment No. 1.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Velazquez amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the noes had prevailed. Ms. Velazquez demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
DEBATE - Pursuant to the provisions of H.Res. 33, the Committee of the Whole proceeded with 10 minutes of debate on the Clay Part B amendment No. 2.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Clay amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the noes had prevailed. Mr. Clay demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
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Mr. Huizenga moved that the Committee rise.
On motion that the Committee rise Agreed to by voice vote.
Committee of the Whole House on the state of the Union rises leaving H.R. 79 as unfinished business.
Considered as unfinished business. (consideration: CR H280-283)
The House resolved into Committee of the Whole House on the state of the Union for further consideration.
The House rose from the Committee of the Whole House on the state of the Union to report H.R. 79.
The previous question was ordered pursuant to the rule.
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 344 - 73 (Roll no. 31).
Roll Call #31 (House)On passage Passed by the Yeas and Nays: 344 - 73 (Roll no. 31).
Roll Call #31 (House)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.