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HR 3784 114th Congress House Finance and Financial Sector Administrative law and regulatory procedures Advisory bodies Business investment and capital Corporate finance and management Economic performance and conditions Executive agency funding and structure Financial services and investments Minority and disadvantaged businesses Securities Securities and Exchange Commission (SEC) Small business Women in business

SEC Small Business Advocate Act of 2016

Introduced: October 21, 2015 See on congress.gov
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 Everywhere this bill has been 23 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 16, 2016
Became Public Law No: 114-284.
Dec 16, 2016
Signed by President.
Dec 15, 2016
Presented to President.
Dec 12, 2016
Message on Senate action sent to the House.
Dec 10, 2016
Passed Senate without amendment by Unanimous Consent.
Dec 10, 2016
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.
Dec 10, 2016
Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent. (consideration: CR S7108)
Dec 10, 2016
Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.(consideration: CR S7108)
Feb 2, 2016
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Feb 1, 2016
Motion to reconsider laid on the table Agreed to without objection.
Feb 1, 2016
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H379-381)
Feb 1, 2016
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H379-381)
Feb 1, 2016
DEBATE - The House proceeded with forty minutes of debate on H.R. 3784.
Feb 1, 2016
Considered under suspension of the rules. (consideration: CR H379-382)
Feb 1, 2016
Mr. Garrett moved to suspend the rules and pass the bill, as amended.
Feb 1, 2016
Placed on the Union Calendar, Calendar No. 311.
Feb 1, 2016
Reported (Amended) by the Committee on Financial Services. H. Rept. 114-408.
Dec 9, 2015
Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 0.
Dec 9, 2015
Committee Consideration and Mark-up Session Held.
Dec 8, 2015
Committee Consideration and Mark-up Session Held.
Dec 2, 2015
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Oct 21, 2015
Referred to the House Committee on Financial Services.
Oct 21, 2015
Introduced in House
 Plain-English summary Congressional Research Service

(This measure has not been amended since it was passed by the House on February 1, 2016. The summary of that version is repeated here.)

SEC Small Business Advocate Act of 2016

(Sec. 2) This bill amends the Securities Exchange Act of 1934 to establish within the Securities and Exchange Commission (SEC) an Office of the Advocate for Small Business Capital Formation.

The Advocate for Small Business Capital Formation shall:

  • assist small businesses and small business investors in resolving significant problems they may have with the SEC or with self-regulatory organizations;
  • identify areas in which such businesses and investors would benefit from changes in SEC regulations or the rules of such organizations;
  • identify problems that small businesses have with securing access to capital, including any unique challenges to minority-owned and women-owned small businesses;
  • analyze the potential impact on such businesses and investors of proposed SEC regulations and proposed rules that are likely to have a significant economic impact on small businesses and small business capital formation;
  • conduct outreach to such businesses and investors to solicit views on relevant capital formation issues;
  • propose to the SEC changes in its regulations or orders, and propose to Congress legislative, administrative, or personnel changes, to mitigate problems identified and to promote the interests of such businesses and investors;
  • consult with the Investor Advocate on such proposals and advise the Investor Advocate on small business-related issues;
  • submit annual reports on its activities to specified congressional committees; and
  • be responsible for planning, organizing, and executing the annual Government-Business Forum on Small Business Capital Formation.

The bill also establishes the Small Business Capital Formation Advisory Committee, which shall provide the SEC with advice on SEC rules, regulations, and policies regarding its mission of protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation, as they relate to:

  • capital raising by emerging, privately held small businesses and publicly traded companies with less than $250 million in public market capitalization through securities offerings;
  • trading in the securities of such businesses and companies; and
  • public reporting and corporate governance requirements of such businesses and companies.

The SEC shall assess the committee's recommendations and disclose any action it intends to take with respect to such recommendations.

What's happening now December 16, 2016

Became Public Law No: 114-284.

 Committees of jurisdiction 3
 Cosponsors 3
All 3 Democratic 3