US HB3623 | 2013-2014 | 113th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on October 23 2013 - 25% progression, died in chamber
Action: 2014-03-14 - Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 0.
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on October 23 2013 - 25% progression, died in chamber
Action: 2014-03-14 - Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 0.
Text: Latest bill text (Introduced) [PDF]
Summary
Improving Access to Capital for Emerging Growth Companies Act - Amends the Securities Act of 1933 (Act) to reduce from 21 to 15 the number of days before a "road show" that an emerging growth company (EGC), before its initial public offering (IPO) date, may publicly file a draft registration statement for confidential nonpublic review by Securities and Exchange Commission (SEC) staff. (A financial "road show" is an offer [other than a statutory prospectus or a portion of one] that contains a presentation regarding an offering by one or more members of the issuer's management and includes discussion of one or more of the issuer, such management, and the securities being offered. Typically, a road show is a series of meetings across different cities, often before an IPO, in which top executives from a company have the opportunity to talk with current or potential investors.) Prescribes a grace period during which an issuer that was an EGC at the time it filed a confidential registration statement for confidential SEC review, but is no longer one, shall continue to be treated as one. Authorizes an EGC, within one year of its IPO, to submit confidentially to the SEC a draft registration statement for any securities to be issued subsequent to its IPO (follow-on offerings) for confidential nonpublic review by SEC staff before publicly filing a registration statement, if the initial confidential submission, including amendments, is publicly filed with the SEC within two days before it issues those follow-on offerings. Amends the Jumpstart Our Business Startups Act to direct the SEC to revise its general instructions on Form S-1 to prescribe conditions under which a registration statement that is filed by an issuer (or submitted for confidential review) before its IPO may omit financial disclosure information for historical periods otherwise required.
Title
Improving Access to Capital for Emerging Growth Companies Act
Sponsors
Rep. Stephen Fincher [R-TN] | Rep. John Delaney [D-MD] |
History
Date | Chamber | Action |
---|---|---|
2014-03-14 | House | Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 0. |
2014-03-14 | House | Committee Consideration and Mark-up Session Held. |
2013-11-22 | House | Referred to the House Committee on Financial Services. |
2013-11-22 | House | Sponsor introductory remarks on measure. (CR E1756) |
2013-10-23 | House | Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Introduction and Referral. |
Same As/Similar To
HB5405 (Related) 2014-09-17 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Subjects
Business investment and capital
Business records
Corporate finance and management
Finance and financial sector
Financial services and investments
Government information and archives
Licensing and registrations
Securities
Business records
Corporate finance and management
Finance and financial sector
Financial services and investments
Government information and archives
Licensing and registrations
Securities
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/113th-congress/house-bill/3623/all-info |
Text | https://www.congress.gov/113/bills/hr3623/BILLS-113hr3623ih.pdf |