H.R. 4570 · 113th Congress
Private Placement Improvement Act of 2014
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
GarrettSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Private Placement Improvement Act of 2014 - Directs the Securities and Exchange Commission (SEC) to revise the filing requirements of Regulation D to require an issuer that offers or sells securities in reliance upon a certain exemption from registration (for limited offers and sales without regard to the dollar amount of the offering [Rule 506]) to file,…
What it does: CRS summary · Introduced in House · May 6, 2014
Private Placement Improvement Act of 2014 - Directs the Securities and Exchange Commission (SEC) to revise the filing requirements of Regulation D to require an issuer that offers or sells securities in reliance upon a certain exemption from registration (for limited offers and sales without regard to the dollar amount of the offering [Rule 506]) to file, no earlier than the date of first sale of such securities, a single notice of sales containing the information required by Form D for each new offering of securities.
Prohibits the SEC from: (1) requiring the issuer to file any notice of sales containing the information required by Form D except for this single notice; (2) conditioning the availability of the Rule 506 exemption upon the filing of a Form D or similar report; or (3) requiring issuers to submit written general solicitation materials in connection with a limited offering subject to Rule 506, except when it requests such materials pursuant to specified authority.
Directs the SEC to revise a specified rule, regarding a Rule 506 offering of a private fund, to characterize as an accredited investor a "knowledgeable employee" of that private fund or the fund's investment adviser.
Prohibits the SEC from extending to private funds the requirements governing investment company sales literature.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Private Placement Improvement Act of 2014
Latest action (May 22, 2014): Ordered to be Reported by the Yeas and Nays: 31 - 28.
Policy area: Finance and Financial Sector · Origin: House · Introduced: May 6, 2014
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.