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Unlocking Capital for Small Businesses Act of 2023

USA118th CongressHR-2590| House 
| Updated: 4/13/2023
Andrew R. Garbarino

Andrew R. Garbarino

Republican Representative

New York

Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.
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Timeline

Bill from Previous Congress

HR 116-3768
Unlocking Capital for Small Businesses Act of 2019

Bill from Previous Congress

HR 117-8998
Unlocking Capital for Small Businesses Act of 2022
Apr 13, 2023
Introduced in House
Apr 13, 2023
Referred to the House Committee on Financial Services.
Jun 11, 2024

Latest Companion Bill Action

S 118-4493
Introduced in Senate
  • Bill from Previous Congress

    HR 116-3768
    Unlocking Capital for Small Businesses Act of 2019


  • Bill from Previous Congress

    HR 117-8998
    Unlocking Capital for Small Businesses Act of 2022


  • April 13, 2023
    Introduced in House


  • April 13, 2023
    Referred to the House Committee on Financial Services.


  • June 11, 2024

    Latest Companion Bill Action

    S 118-4493
    Introduced in Senate

Finance and Financial Sector

Related Bills

  • S 118-4493: Unlocking Capital for Small Businesses Act of 2024
  • HR 118-2799: Expanding Access to Capital Act of 2023

Unlocking Capital for Small Businesses Act of 2023

USA118th CongressHR-2590| House 
| Updated: 4/13/2023
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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 116-3768
Unlocking Capital for Small Businesses Act of 2019

Bill from Previous Congress

HR 117-8998
Unlocking Capital for Small Businesses Act of 2022
Apr 13, 2023
Introduced in House
Apr 13, 2023
Referred to the House Committee on Financial Services.
Jun 11, 2024

Latest Companion Bill Action

S 118-4493
Introduced in Senate
  • Bill from Previous Congress

    HR 116-3768
    Unlocking Capital for Small Businesses Act of 2019


  • Bill from Previous Congress

    HR 117-8998
    Unlocking Capital for Small Businesses Act of 2022


  • April 13, 2023
    Introduced in House


  • April 13, 2023
    Referred to the House Committee on Financial Services.


  • June 11, 2024

    Latest Companion Bill Action

    S 118-4493
    Introduced in Senate
Andrew R. Garbarino

Andrew R. Garbarino

Republican Representative

New York

Financial Services Committee

Finance and Financial Sector

Related Bills

  • S 118-4493: Unlocking Capital for Small Businesses Act of 2024
  • HR 118-2799: Expanding Access to Capital Act of 2023
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted