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H.R. 2590 118th Congress House

Unlocking Capital for Small Businesses Act of 2023

Official title: To amend the Securities Exchange Act of 1934 to create a safe harbor for finders and private placement brokers, and for other purposes.

Introduced: April 13, 2023 Introduced by: Andrew R. Garbarino Republican · New York See on congress.gov
Finance and Financial Sector
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 13, 2023
Referred to the House Committee on Financial Services.
Apr 13, 2023
Introduced in House
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 Latest action April 13, 2023

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

Unlocking Capital for Small Businesses Act of 2023

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.

 Related & companion bills 2
  • HR 2799 Expanding Access to Capital Act of 2023
  • S 4493 Unlocking Capital for Small Businesses Act of 2024
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 7

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

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APA
U.S. Congress. (2026). H.R. 2590: Unlocking Capital for Small Businesses Act of 2023. 118th Congress. Open America. https://openamerica.io/bill/118-HR-2590/
MLA
"H.R. 2590: Unlocking Capital for Small Businesses Act of 2023." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-2590/.
Bluebook (legal)
H.R. 2590, 118th Cong. (2026), https://openamerica.io/bill/118-HR-2590/.
Markdown link
[H.R. 2590: Unlocking Capital for Small Businesses Act of 2023](https://openamerica.io/bill/118-HR-2590/)
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