HR 1553
118th 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 of 2023
Everywhere this bill has been
6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 12, 2023
Placed on the Union Calendar, Calendar No. 250.
Dec 12, 2023
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-310.
May 24, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 35 - 12.
May 24, 2023
Committee Consideration and Mark-up Session Held
Mar 10, 2023
Referred to the House Committee on Financial Services.
Mar 10, 2023
Introduced in House
Plain-English summary
Helping Angels Lead Our Startups Act of 2023 or the HALOS Act of 2023
This bill directs the Securities and Exchange Commission (SEC) to revise Regulation D, which exempts certain securities offerings from SEC registration requirements but prohibits general solicitation or general advertising with respect to such offerings. Under the bill, 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
Placed on the Union Calendar, Calendar No. 250.
Committees of jurisdiction
1
Cosponsors
1