Community Bank Access to Capital Act of 201 9 This bill creates an exemption from internal control report attestation requirements for depository institutions with assets less than $5 billion. These institutions are also exempt from certain annual reports on financial condition and management. The Securities and Exchange Commission must revise Regulation D (which exempts certain offerings from securities registration requirements) to (1) raise the limit on the number of purchasers of securities, and (2) include a person's primary residence as an asset used in determining whether a person is an accredited investor eligible to participate in these offerings.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Finance and Financial Sector
Accounting and auditingAdministrative law and regulatory proceduresBank accounts, deposits, capitalBanking and financial institutions regulationSecurities and Exchange Commission (SEC)
Community Bank Access to Capital Act of 2019
USA116th CongressS-1233| Senate
| Updated: 4/30/2019
Community Bank Access to Capital Act of 201 9 This bill creates an exemption from internal control report attestation requirements for depository institutions with assets less than $5 billion. These institutions are also exempt from certain annual reports on financial condition and management. The Securities and Exchange Commission must revise Regulation D (which exempts certain offerings from securities registration requirements) to (1) raise the limit on the number of purchasers of securities, and (2) include a person's primary residence as an asset used in determining whether a person is an accredited investor eligible to participate in these offerings.
Accounting and auditingAdministrative law and regulatory proceduresBank accounts, deposits, capitalBanking and financial institutions regulationSecurities and Exchange Commission (SEC)