HR 477 · 115th Congress · Finance and Financial Sector
Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017
Bill Progress
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Introduced✓
Committee✓
House Vote4
Senate5
EnactedLatest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.(2017-12-11)
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Plain Language Summary
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Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017 This bill amends the Securities Exchange Act of 1934 to generally exempt certain merger-and-acquisition brokers from that Act's registration requirements. This exemption shall not apply, however, to brokers that: (1) receive, hold, transmit, or have custody of funds or securities to be exchanged by parties to an ownership transfer of a privately held company that meets specified conditions; (2) engage on behalf of an issuer in a public offering of registered securities; (3) engage on behalf of any party in a transaction involving a public shell company; or (4) are subject to suspension or revocation of registration or to other specified disqualifications.…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeH.R. 477, Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017
Nov 30, 2017As ordered reported by the House Committee on Financial Services on October 12, 2017
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office
Cosponsors (10)
2 Democrats8 Republicans