H.R. 1909 116th Congress House

HALOS Act

Official title: To require the Securities and Exchange Commission to revise rules relating to general solicitation or general advertising to allow for presentations or other c… Show full official titleShow less

Introduced: May 2, 2019 See on congress.gov

Finance and Financial Sector Administrative law and regulatory proceduresBusiness investment and capitalFinancial services and investmentsHigher education

More subjectsShow fewer subjects

Marketing and advertisingSecuritiesSecurities and Exchange Commission (SEC)Social work, volunteer service, charitable organizations

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

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.

Latest action March 27, 2019

Referred to the House Committee on Financial Services.

Plain-English summary Congressional Research Service

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.

Related & companion bills 1

Bill text 1 version