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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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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) 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 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
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 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.

 Related & companion bills 1
  • HR 8998 Related bill Unlocking Capital for Small Businesses Act of 2022
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 3922: Unlocking Capital for Small Businesses Act of 2022. 117th Congress. Open America. https://openamerica.io/bill/117-S-3922/
MLA
"S. 3922: Unlocking Capital for Small Businesses Act of 2022." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-3922/.
Bluebook (legal)
S. 3922, 117th Cong. (2026), https://openamerica.io/bill/117-S-3922/.
Markdown link
[S. 3922: Unlocking Capital for Small Businesses Act of 2022](https://openamerica.io/bill/117-S-3922/)
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