US Congress House Bill 3921 (Prior Session Legislation)

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Sponsorship: Partisan Bill (Democrat 2)
Status: Introduced on November 4 2015 - 25% progression, died in committee
Action: 2015-11-04 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Hedge Fund Sunshine Act of 2015 This bill amends the Securities Exchange Act of 1934 to require that hedge funds send specified information to both the issuer of a security and each exchange where the security is rated within five (instead of 10) days of acquiring 1% (instead of 5%) of the beneficial ownership of an equity security, and also to file specified information required by the Securities and Exchange Commission (SEC). For purposes of determining such beneficial ownership, a hedge fund shall include any equity security with respect to which it owns a derivative instrument that includes the opportunity to profit or share in any profit derived from an increase in the value of such equity security. In addition, a hedge fund must file a quarterly report with the SEC if it: (1) has $100 million or more in assets under management, and (2) is the beneficial owner of more than 1% of a class of any security. The SEC shall make all reports received under this Act publicly available on its website.

Hedge Fund Sunshine Act of 2015

Rep. Nydia Velazquez [D-NY]

Rep. Marcy Kaptur [D-OH]

Date	Chamber	Action
2015-11-04	House	Referred to the House Committee on Financial Services.
2015-11-04	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/3921/all-info
Text	https://www.congress.gov/114/bills/hr3921/BILLS-114hr3921ih.pdf