Private Placement Improvement Act of 2016

Summary

Private Placement Improvement Act of 2016 This bill directs the Securities and Exchange Commission (SEC) to revise the filing requirements of Regulation D (which provides exemptions from securities registration requirements) to require an issuer that offers or sells securities in reliance upon a certain exemption from registration (for limited offers and sales without regard to the dollar amount of the offering [Rule 506]) to file, no earlier than the date of first sale of such securities, a single notice of sales containing the information required by Form D (used to file a notice of an exempt offering of securities under Regulation D) for each new offering of securities. The SEC shall not: (1) require the issuer to file any notice of sales containing the information required by Form D except for this single notice; (2) condition the availability of the Rule 506 exemption upon the filing of a Form D or similar report; or (3) require issuers to submit written general solicitation materials in connection with a limited offering subject to Rule 506, except when it requests such materials pursuant to specified authority. The SEC shall revise a specified rule, regarding a Rule 506 offering of a private fund, to characterize as an accredited investor a "knowledgeable employee" of that private fund or the fund's investment adviser. The SEC shall not extend to private funds the requirements governing investment company sales literature.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

6 official files

• Reported in House (text)

  Reported in House · EN · 6 September 2016

  ViewDownloadOpen at official source

• Reported in House (PDF)

  Reported in House · EN · 6 September 2016

  ViewDownloadOpen at official source

• Reported to House with amendment(s)

  summary · EN · 6 September 2016

  Open at official source

• Introduced in House (text)

  Introduced in House · EN · 23 March 2016

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 23 March 2016

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 23 March 2016

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.