Unlocking Capital for Small Businesses Act of 2022
Latest action · Apr 5, 2022 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-621.
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.
- IntroducedMar 24, 2022
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Unlocking Capital for Small Businesses Act of 2022
This bill revises the regulatory treatment of private-placement brokers (brokers who receive transaction-based compensation for the sale of securities to preselected individuals or institutions) and finders (private-placement brokers who do not exceed a specified amount of compensation, transaction value, or number of transactions in a year).
Specifically, the bill (1) requires the Securities and Exchange Commission to establish registration requirements for private-placement brokers that are no more stringent than those imposed on crowdfunding portals, (2) allows for membership in any national securities association for private-placement brokers, (3) exempts private-placement brokers from broker regulations, and (4) otherwise modifies provisions related to private-placement brokers and finders.
Cosponsors
Members who signed on, in the order they did.
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Banking, Housing, and Urban Affairs Committee | Referred Mar 24, 2022Hearings Apr 5, 2022 |
Actions 3
Everything that happened, newest first.
- Apr 5, 2022Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-621.
- Mar 24, 2022Introduced in Senate
- Mar 24, 2022Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 4493 | Unlocking Capital for Small Businesses Act of 2024 | Reintroduced Bill | Jun 11, 2024 |
| HR 8998 | Unlocking Capital for Small Businesses Act of 2022 | Related bill | Sep 28, 2022 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to amend the Securities Exchange Act of 1934 to create a safe harbor for finders and private placement brokers, and for other purposes.
- Short Title(s) as Introduced
- Unlocking Capital for Small Businesses Act of 2022
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Mar 24, 2022Introduced in Senate
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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
