HR 1909
116th Congress
House
Finance and Financial Sector
Administrative law and regulatory procedures
Business investment and capital
Financial services and investments
Higher education
Marketing and advertising
Securities
Securities and Exchange Commission (SEC)
Social work, volunteer service, charitable organizations
HALOS Act
Introduced: March 27, 2019
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 27, 2019
Referred to the House Committee on Financial Services.
Mar 27, 2019
Introduced in House
Plain-English summary
Helping Angels Lead Our Startups Act of 2019 or the HALOS Act
This bill directs the Securities and Exchange Commission (SEC) to revise Regulation D, which exempts certain offerings from SEC registration requirements but prohibits general solicitation or general advertising with respect to such offerings. Specifically, this prohibition shall not apply to events with specified kinds of sponsors—including "angel investor groups" unconnected to broker-dealers or investment advisers—where presentations or communications are made by or on behalf of an issuer, if
- the advertising does not refer to any specific offering of securities by the issuer;
- the sponsor does not provide investment recommendation or advice to attendees, engage in investment negotiations with attendees, charge certain fees, or receive certain compensation; and
- no specific information regarding a securities offering is communicated beyond the type and amount of securities being offered, the amount of securities already subscribed for, and the intended use of proceeds from the offering.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1