Family Office Technical Correction Act of 2017
Latest action · Oct 25, 2017 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedOct 5, 2017
- Passed HouseOct 24, 2017
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Family Office Technical Correction Act of 2017
(Sec. 2) This bill provides that family offices are accredited investors as set forth by the Securities and Exchange Commission in Regulation D, allowing such investors to purchase certain unregistered securities. (A family office is a company that has no clients other than family clients, is wholly owned and exclusively controlled by family clients, and does not hold itself out to the public as an investment advisor.)
A family office is an accredited investor if:
- the office manages assets in excess of $5 million,
- the office was not formed for the purpose of acquiring the offered securities, and
- a qualified person is directing the purchase.
Cosponsors
Members who signed on, in the order they did.
Actions 14
Everything that happened, newest first.
- Oct 25, 2017Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Oct 24, 2017Considered under suspension of the rules. (consideration: CR H8097-8099)
- Oct 24, 2017DEBATE - The House proceeded with forty minutes of debate on H.R. 3972.
- Oct 24, 2017Motion to reconsider laid on the table Agreed to without objection.
- Oct 24, 2017Mr. Barr moved to suspend the rules and pass the bill, as amended.
Related bills 3
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 488 | Encouraging Employee Ownership Act | Related bill | Jul 18, 2018 |
| HR 6147 | Interior, Environment, Financial Services and General Government, Agriculture, Rural Development, Food and Drug Administration, and Transportation, Housing and Urban Development Appropriations Act, 2019 | Related bill | Sep 7, 2018 |
| HR 6258 | Financial Services and General Government Appropriations Act, 2019 | Related bill | Jun 28, 2018 |
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 4
Each version as it was printed, newest first.
- Oct 25, 2017Referred in Senate
- Oct 24, 2017Engrossed in House
- Oct 23, 2017Reported in House
- Oct 5, 2017Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.