A bill to require the Securities and Exchange Commission to revise the definitions of a qualifying portfolio company and a qualifying investment to include an emerging growth company and the equity securities of an emerging growth company, respectively, for purposes of the exemption from registration for venture capital fund advisers under the Investment Advisers Act of 1940.
Developing and Empowering our Aspiring Leaders Act of 2018
This bill directs the Securities and Exchange Commission (SEC) to exempt certain investments by venture capital funds from SEC registration requirements; specifically, the bill exempts investments in equity securities acquired in a secondary acquisition.
Placed on the Union Calendar, Calendar No. 687.
Message on House action received in Senate and at desk: House amendments to Senate bill.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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