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

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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.

What's happening now March 27, 2019

Referred to the House Committee on Financial Services.

Related & companion bills 1

Bill text 1 version