Improving Access to Capital for Emerging Growth Companies Act

reportedUnited States· United States Congress· EN

Introduced

22 November 2013

Last action

14 March 2014 · Committee

Status

Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 0.

Summary

Improving Access to Capital for Emerging Growth Companies Act - Amends the Securities Act of 1933 (Act) to reduce from 21 to 15 the number of days before a "road show" that an emerging growth company (EGC), before its initial public offering (IPO) date, may publicly file a draft registration statement for confidential nonpublic review by Securities and Exchange Commission (SEC) staff. (A financial "road show" is an offer [other than a statutory prospectus or a portion of one] that contains a presentation regarding an offering by one or more members of the issuer's management and includes discussion of one or more of the issuer, such management, and the securities being offered. Typically, a road show is a series of meetings across different cities, often before an IPO, in which top executives from a company have the opportunity to talk with current or potential investors.) Prescribes a grace period during which an issuer that was an EGC at the time it filed a confidential registration statement for confidential SEC review, but is no longer one, shall continue to be treated as one. Authorizes an EGC, within one year of its IPO, to submit confidentially to the SEC a draft registration statement for any securities to be issued subsequent to its IPO (follow-on offerings) for confidential nonpublic review by SEC staff before publicly filing a registration statement, if the initial confidential submission, including amendments, is publicly filed with the SEC within two days before it issues those follow-on offerings. Amends the Jumpstart Our Business Startups Act to direct the SEC to revise its general instructions on Form S-1 to prescribe conditions under which a registration statement that is filed by an issuer (or submitted for confidential review) before its IPO may omit financial disclosure information for historical periods otherwise required.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

23 October 2013
Committee
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Introduction and Referral.
Source: Committee
22 November 2013
Introduced
Referred to the House Committee on Financial Services.
Source: IntroReferral
22 November 2013
Introduced
Sponsor introductory remarks on measure. (CR E1756)
Source: IntroReferral
22 November 2013
Introduced
Introduced in House
Source: IntroReferral
22 November 2013
Introduced
Introduced in House
Source: IntroReferral
14 March 2014
Vote
Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 0.
Source: Committee
14 March 2014
Committee
Committee Consideration and Mark-up Session Held.
Source: Committee

Votes

No vote records are attached yet.

Versions

Introduced in House · 22 November 2013 · Download file

Documents

3 official files

Introduced in House (text)

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Introduced in House (text)
Introduced in House · EN · 22 November 2013
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Introduced in House (PDF)
Introduced in House · EN · 22 November 2013
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Introduced in House
summary · EN · 22 November 2013
Open at official source
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Related records

related to ← Promoting Job Creation and Reducing Small Business Burdens Act

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/113th-congress/house-bill/3623
Open data entity: https://api.congress.gov/v3/bill/113/hr/3623
us · 113-hr-3623 · source updated 12 August 2025