U.S. Congress - H.R.2167 Private Company Flexibility and Growth Act
H.R.2167 - Private Company Flexibility and Growth Act
To amend the Securities Exchange Act of 1934 to change the threshold number of shareholders for required registration under that Act. view all titles (3)
All Bill Titles
- Short: Private Company Flexibility and Growth Act as reported to house.
- Official: To amend the Securities Exchange Act of 1934 to change the threshold number of shareholders for required registration under that Act. as introduced.
- Short: Private Company Flexibility and Growth Act as introduced.
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Official Summary
12/12/2011--Reported to House amended. Private Company Flexibility and Growth Act - Amends the Securities Exchange Act of 1934 to change the thresholds for total assets and for class of equity security holders of record which trigger the requirement for a securities issuer to register withOfficial Summary
12/12/2011--Reported to House amended. Private Company Flexibility and Growth Act - Amends the Securities Exchange Act of 1934 to change the thresholds for total assets and for class of equity security holders of record which trigger the requirement for a securities issuer to register with the Securities and Exchange Commission (SEC). Increases the total assets threshold from $1 million to $10 million, and the class of equity security holders of record threshold from 500-750 to 1,000 persons. Declares that, with respect to such registration requirement, the definition of "held of record" does not include securities held by persons who received them pursuant to an employee compensation plan in transactions exempted from specified registration requirements of the Securities Act of 1933 (exempt transactions). (Thus exempts securities held by such persons from registration requirements.) Directs the SEC to:(1) revise the definition of "held of record" in accordance with this Act, and
(2) adopt safe harbor provisions issuers can follow when determining that holders of their securities received them pursuant to an employee compensation plan in an exempt transaction.
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Organizations Supporting H.R.2167
- U. S. Chamber of Commerce
- Financial Services Forum
- Biotechnology Industry Association
- NYSE Euronext
- Wawa, Inc.
- Independent Community Bankers of America
- ...and 1 more. See all.
Organizations Opposing H.R.2167
- Consumer Federation of America
- Americans for Financial Reform
- North American Securities Administrators Association
- Nebraska Department of Banking & Finance
- AFL CIO
Recent News Coverage
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Clean Energy Startups and Small Businesses Now Have Access to Capital Markets via the JOBS Act
Maximum investors. H.R. 2167 raises the investor ceiling to 2000. This updates a 1964 rule stating that, once a company exceeds 499 investors and $10 million in assets, it must file with the SEC and go public.
Clean energy start-ups and small businesses now have access to capital markets
Maximum investors. H.R. 2167 raises the investor ceiling to 2000. This updates a 1964 rule stating that once a company exceeds 499 investors and $10 million in assets it must file with the SEC and go public. So here we have two historic mileposts.
JOBS Act passes U.S. House with bipartisan support
H.R. 2167, the Private Company Flexibility and Growth Act, removes an impediment to capital formation for small companies by raising the shareholder threshold for mandatory registration with the SEC from 500 to 1,000 shareholders.
Recent Blog Coverage
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Identifying Your Big Break - Sometimes A Field Goal Is OK
Its formal name is the Private Company Flexibility and Growth Act (HR 2167), and it was introduced to the House of Representatives on Tuesday by Rep. David SchweikertComplete Story ». The Consensus On Big Banks ...
Identifying Your Big Break - Sometimes A Field Goal Is OK
Its formal name is the Private Company Flexibility and Growth Act (HR 2167), and it was introduced to the House of Representatives on Tuesday by Rep. David SchweikertComplete Story ». The Consensus On Big Banks ...
Identifying Your Big Break - Sometimes A Field Goal Is OK
Its formal name is the Private Company Flexibility and Growth Act (HR 2167), and it was introduced to the House of Representatives on Tuesday by Rep. David SchweikertComplete Story ». The Consensus On Big Banks ...
Latest Letters to Congress
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