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HR 4852 114th Congress House

Private Placement Improvement Act of 2016

Official title: To direct the Securities and Exchange Commission to revise Regulation D relating to exemptions from registration requirements for certain sales of securities.

Introduced: March 23, 2016 See on congress.gov
Finance and Financial Sector Administrative law and regulatory proceduresBusiness recordsCorporate finance and managementFinancial services and investments
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 8 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 6, 2016
Placed on the Union Calendar, Calendar No. 562.
Sep 6, 2016
Reported (Amended) by the Committee on Financial Services. H. Rept. 114-726.
Jun 16, 2016
Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 26.
Jun 16, 2016
Committee Consideration and Mark-up Session Held.
Jun 15, 2016
Committee Consideration and Mark-up Session Held.
Apr 14, 2016
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Mar 23, 2016
Referred to the House Committee on Financial Services.
Mar 23, 2016
Introduced in House
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 Latest action September 6, 2016

Placed on the Union Calendar, Calendar No. 562.

 Plain-English summary Congressional Research Service

Private Placement Improvement Act of 2016

This bill directs the Securities and Exchange Commission (SEC) to revise the filing requirements of Regulation D (which provides exemptions from securities registration requirements) to require an issuer that offers or sells securities in reliance upon a certain exemption from registration (for limited offers and sales without regard to the dollar amount of the offering [Rule 506]) to file, no earlier than 15 days after the date of first sale of such securities, a single notice of sales containing the information required by Form D (used to file a notice of an exempt offering of securities under Regulation D) for each new offering of securities.

The SEC shall not: (1) require the issuer to file any notice of sales containing the information required by Form D except for this single notice; (2) condition the availability of the Rule 506 exemption upon the filing of a Form D or similar report; or (3) require issuers to submit written general solicitation materials in connection with a limited offering subject to Rule 506, except when it requests such materials pursuant to specified authority.

The SEC shall revise a specified rule, regarding a Rule 506 offering of a private fund, to characterize as an accredited investor a "knowledgeable employee" of that private fund or the fund's investment adviser.

The SEC shall not extend to private funds the requirements governing investment company sales literature.

 Related & companion bills 2
  • HR 2357 Related bill Accelerating Access to Capital Act of 2016
  • HR 5983 Related bill Financial CHOICE Act of 2016
 Bill text 2 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
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APA
U.S. Congress. (2026). H.R. 4852: Private Placement Improvement Act of 2016. 114th Congress. Open America. https://openamerica.io/bill/114-HR-4852/
MLA
"H.R. 4852: Private Placement Improvement Act of 2016." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-4852/.
Bluebook (legal)
H.R. 4852, 114th Cong. (2026), https://openamerica.io/bill/114-HR-4852/.
Markdown link
[H.R. 4852: Private Placement Improvement Act of 2016](https://openamerica.io/bill/114-HR-4852/)
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