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S 3922 117th Congress Senate Finance and Financial Sector Business investment and capital Financial services and investments Licensing and registrations Securities

Unlocking Capital for Small Businesses Act of 2022

Introduced: March 24, 2022 Introduced by: Cramer, Kevin Republican · North Dakota See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 5, 2022
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-621.
Mar 24, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 24, 2022
Introduced in Senate
 Plain-English summary Congressional Research Service

Unlocking Capital for Small Businesses Act of 2022

This bill revises the regulatory treatment of private-placement brokers (brokers who receive transaction-based compensation for the sale of securities to preselected individuals or institutions) and finders (private-placement brokers who do not exceed a specified amount of compensation, transaction value, or number of transactions in a year).

Specifically, the bill (1) requires the Securities and Exchange Commission to establish registration requirements for private-placement brokers that are no more stringent than those imposed on crowdfunding portals, (2) allows for membership in any national securities association for private-placement brokers, (3) exempts private-placement brokers from broker regulations, and (4) otherwise modifies provisions related to private-placement brokers and finders.

What's happening now April 5, 2022

Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-621.

 Committees of jurisdiction 1