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S 1941 112th Congress Senate Finance and Financial Sector Administrative law and regulatory procedures Government information and archives Securities Securities and Exchange Commission (SEC)

A bill to amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes.

Introduced: December 5, 2011 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 5, 2011
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Dec 5, 2011
Introduced in Senate
 Plain-English summary Congressional Research Service

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 number of holders of record of the class of security is reduced to less than 1,200.

Directs the Securities and Exchange Commission (SEC) to promulgate implementing regulations.

What's happening now December 5, 2011

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Republican 4