Skip to main content
S 3518 115th Congress Senate Finance and Financial Sector

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2018

Introduced: September 27, 2018 Introduced by: Peters, Gary C. Democratic · Michigan See on congress.gov
Sign in to write a letter Sign in to watch
This bill died when the 115th Congress ended
It never became law before the 115th Congress (2017–2018) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 27, 2018
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sep 27, 2018
Introduced in Senate
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Plain-English summary Congressional Research Service

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2018

This bill amends the Securities Exchange Act of 1934 to exempt from that Act's registration requirements merger-and-acquisition brokers that facilitate transfer of ownership in privately held companies with earnings or revenues under a specified threshold. This exemption shall not apply, however, to brokers that:

  • receive, hold, transmit, or have custody of funds or securities to be exchanged by parties to an ownership transfer;
  • engage on behalf of an issuer in a public offering of registered securities;
  • engage on behalf of any party in a transaction involving specified shell companies;
  • provide financing related to the transfer of ownership;
  • assist any party to obtain financing from a third party in specified circumstances;
  • represent both buyer and seller without disclosure and consent from both parties;
  • facilitate a transaction with a group of buyers formed with the assistance of the broker;
  • engage in transferring ownership to a passive buyer;
  • bind a party to a transfer of ownership; or
  • are subject to suspension or revocation of registration or to other specified disqualifications.
What's happening now September 27, 2018

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

 Related & companion bills 5
  • HR 477 Related bill Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017
  • HR 6147 Related bill Interior, Environment, Financial Services and General Government, Agriculture, Rural Development, Food and Drug Adminis…
  • HR 6258 Related bill Financial Services and General Government Appropriations Act, 2019
  • S 488 Related bill Encouraging Employee Ownership Act
  • HR 10 Related bill Financial CHOICE Act of 2017
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Kennedy, John
Louisiana · Sep 27, 2018
Cite this page click to expand
APA
U.S. Congress. (2026). S. 3518: Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2018. 115th Congress. Open America. https://openamerica.io/bill/115-S-3518/
MLA
"S. 3518: Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2018." 115th Congress, 2026, Open America, https://openamerica.io/bill/115-S-3518/.
Bluebook (legal)
S. 3518, 115th Cong. (2026), https://openamerica.io/bill/115-S-3518/.
Markdown link
[S. 3518: Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2018](https://openamerica.io/bill/115-S-3518/)
Report a problem