US SB556 | 2011-2012 | 112th Congress
Status
Spectrum: Moderate Partisan Bill (Republican 8-2)
Status: Introduced on March 10 2011 - 25% progression, died in committee
Action: 2011-03-10 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 10 2011 - 25% progression, died in committee
Action: 2011-03-10 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Amends the Securities Exchange Act of 1934 regarding registration of securities to modify the registration threshold for an issuer that is either a bank or a bank holding company as well as for an issuer that is neither a bank nor a bank holding company. Raises from $1 million to $10 million the threshold for total assets of an issuer that requires registration of a certain class of equity security. Divides the holding threshold that requires registration of such a class of equity security, however, into: (1) 2,000 holders of record if the issuer is a bank or a bank holding company, and (2) 500 holders of record if the issuer is neither. Requires termination of a security registration in the case of a bank or a bank holding company if the the number of holders of record of the class of security is reduced to less than 1,200. Directs the Chief Economist and the Director of the Division of Corporation Finance of the Securities and Exchange Commission (SEC) to study and make a cost-benefit analysis of shareholder registration thresholds.
Title
A bill to amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes.
Sponsors
Sen. Kay Hutchison [R-TX] | Sen. Roy Blunt [R-MO] | Sen. John Boozman [R-AR] | Sen. Saxby Chambliss [R-GA] |
Sen. Mike Crapo [R-ID] | Sen. Claire McCaskill [D-MO] | Sen. Jerry Moran [R-KS] | Sen. Mark Pryor [D-AR] |
Sen. Pat Toomey [R-PA] | Sen. David Vitter [R-LA] |
History
Date | Chamber | Action |
---|---|---|
2011-03-10 | Senate | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
Same As/Similar To
HB1965 (Same As) 2011-11-07 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 223.
SB1941 (Related) 2011-12-05 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
HB4088 (Related) 2012-02-24 - Referred to the House Committee on Financial Services.
SB1941 (Related) 2011-12-05 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
HB4088 (Related) 2012-02-24 - Referred to the House Committee on Financial Services.
Subjects
Administrative law and regulatory procedures
Congressional oversight
Finance and financial sector
Government studies and investigations
Securities
Securities and Exchange Commission (SEC)
Congressional oversight
Finance and financial sector
Government studies and investigations
Securities
Securities and Exchange Commission (SEC)
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/112th-congress/senate-bill/556/all-info |
Text | https://www.congress.gov/112/bills/s556/BILLS-112s556is.pdf |