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United States · Law · HR

H.R. 3784 (114th)

SEC Small Business Advocate Act of 2016

enactedUnited States· United States Congress· EN

Introduced

21 October 2015

Last action

16 December 2016 · President

Status

Became Public Law No: 114-284.

Sponsors

Rep. Carney, John C., Jr. [D-DE-At Large], Rep. Duffy, Sean P. [R-WI-7], Rep. Quigley, Mike [D-IL-5], Rep. Crenshaw, Ander [R-FL-4], Rep. Sherman, Brad [D-CA-32], Rep. Fincher, Stephen Lee [R-TN-8], Rep. Maloney, Carolyn B. [D-NY-12], Rep. Rice, Kathleen M. [D-NY-4], Rep. Kildee, Daniel T. [D-MI-5], Rep. Velázquez, Nydia M. [D-NY-7]

Subjects

Discovery layer

Source updated

7 April 2025

Summary

SEC Small Business Advocate Act of 2015 This bill amends the Securities Exchange Act of 1934 to establish within the Securities and Exchange Commission (SEC) an Office of the Advocate for Small Business Capital Formation. The Advocate for Small Business Capital Formation shall: assist small businesses and small business investors in resolving significant problems they may have with the SEC or with self-regulatory organizations; identify areas in which such businesses and investors would benefit from changes in SEC regulations or the rules of such organizations; identify problems that small businesses have with securing access to capital; analyze the potential impact on such businesses and investors of proposed SEC regulations and proposed rules that are likely to have a significant economic impact on small businesses and small business capital formation; conduct outreach to such businesses and investors to solicit views on relevant capital formation issues; propose to the SEC changes in its regulations or orders, and propose to Congress legislative, administrative, or personnel changes, to mitigate problems identified and to promote the interests of such businesses and investors; consult with the Investor Advocate on such proposals and advise the Investor Advocate on small business-related issues; submit annual reports on its activities to specified congressional committees; and be responsible for planning, organizing, and executing the annual Government-Business Forum on Small Business Capital Formation. The bill also establishes the Small Business Capital Formation Advisory Committee, which shall provide the SEC with advice on SEC rules, regulations, and policies regarding its mission of protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation, as they relate to: capital raising by emerging, privately held small businesses and publicly traded companies with less than $250 million in public market capitalization through securities offerings; trading in the securities of such businesses and companies; and public reporting and corporate governance requirements of such businesses and companies. The SEC shall assess the Committee's recommendations and disclose any action it intends to take with respect to such recommendations.

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Timeline

  1. 21 October 2015

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  2. 21 October 2015

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 21 October 2015

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 2 December 2015

    Committee

    Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.

    Source: Committee

  5. 8 December 2015

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

  6. 9 December 2015

    Vote

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

    Source: Committee

  7. 9 December 2015

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

  8. 1 February 2016

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

  9. 1 February 2016

    Passed

    On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H379-381)

    Source: Floor

  10. 1 February 2016

    Passed

    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H379-381)

    Source: Floor

  11. 1 February 2016

    Floor

    DEBATE - The House proceeded with forty minutes of debate on H.R. 3784.

    Source: Floor

  12. 1 February 2016

    Floor

    Considered under suspension of the rules. (consideration: CR H379-382)

    Source: Floor

  13. 1 February 2016

    Floor

    Mr. Garrett moved to suspend the rules and pass the bill, as amended.

    Source: Floor

  14. 1 February 2016

    Calendars

    Placed on the Union Calendar, Calendar No. 311.

    Source: Calendars

  15. 1 February 2016

    Reported

    Reported (Amended) by the Committee on Financial Services. H. Rept. 114-408.

    Source: Committee

  16. 1 February 2016

    Reported

    Reported (Amended) by the Committee on Financial Services. H. Rept. 114-408.

    Source: Committee

  17. 2 February 2016

    Introduced

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Source: IntroReferral

  18. 10 December 2016

    Passed

    Passed Senate without amendment by Unanimous Consent.

    Source: Floor

  19. 10 December 2016

    Passed

    Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.

    Source: Floor

  20. 10 December 2016

    Discharge

    Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent. (consideration: CR S7108)

    Source: Discharge

  21. 10 December 2016

    Committee

    Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.(consideration: CR S7108)

    Source: Committee

  22. 12 December 2016

    Floor

    Message on Senate action sent to the House.

    Source: Floor

  23. 15 December 2016

    Floor

    Presented to President.

    Source: Floor

  24. 15 December 2016

    President

    Presented to President.

    Source: President

  25. 16 December 2016

    Became law

    Became Public Law No: 114-284.

    Source: President

  26. 16 December 2016

    Became law

    Signed by President.

    Source: BecameLaw

  27. 16 December 2016

    President

    Signed by President.

    Source: President

Votes

No vote records are attached yet.

Versions

Documents

16 official files

Enrolled Bill (text)

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  • Enrolled Bill (text)

    Enrolled Bill · EN

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  • Enrolled Bill (PDF)

    Enrolled Bill · EN

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  • Public Law (text)

    Public Law · EN · 16 December 2016

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  • Public Law (PDF)

    Public Law · EN · 16 December 2016

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  • Public Law

    summary · EN · 16 December 2016

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  • Passed Senate without amendment

    summary · EN · 10 December 2016

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  • Referred in Senate (text)

    Referred in Senate · EN · 2 February 2016

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  • Referred in Senate (PDF)

    Referred in Senate · EN · 2 February 2016

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  • Engrossed in House (text)

    Engrossed in House · EN · 1 February 2016

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  • Engrossed in House (PDF)

    Engrossed in House · EN · 1 February 2016

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  • Reported in House (text)

    Reported in House · EN · 1 February 2016

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  • Reported in House (PDF)

    Reported in House · EN · 1 February 2016

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  • Passed House amended

    summary · EN · 1 February 2016

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  • Introduced in House (text)

    Introduced in House · EN · 21 October 2015

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  • Introduced in House (PDF)

    Introduced in House · EN · 21 October 2015

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  • Introduced in House

    summary · EN · 21 October 2015

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