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S.556 - A bill to amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes.
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SECTION 1. SHAREHOLDER REGISTRATION THRESHOLD.
‘(1) in the case of an issuer that is a bank, as such term is defined in section 3(a)(6) of this title, or a bank holding company, as such term is defined in section (2) of the Bank Holding Company Act of 1956 (
12 U.S.C. 1841), 2000 persons or more; andCommentsClose CommentsPermalink
(B) by striking ‘commerce shall’ and inserting ‘commerce shall, not later than 120 days after the last day of its first fiscal year ended after the effective date of this subsection, on which the issuer has total assets exceeding $10,000,000 and a class of equity security (other than an exempted security) held of record by’; andCommentsClose CommentsPermalink
(2) in paragraph (4), by striking ‘three hundred’ and inserting ‘300 persons, or, in the case of a bank, as such term is defined in section 3(a)(6), or a bank holding company, as such term is defined in section (2) of the Bank Holding Company Act of 1956 (
(b) Amendments to Section 15 of the Securities Exchange Act of 1934- Section 15(d) of the Securities Exchange Act of 1934 (
SEC. 2. STUDY AND REPORT ON REGISTRATION THRESHOLDS.
(1) ANALYSIS REQUIRED- The Chief Economist and Director of the Division of Corporation Finance of the Commission shall jointly conduct a study, including a cost-benefit analysis, of shareholder registration thresholds.CommentsClose CommentsPermalink
(b) Report- Not later than 2 years after the date of enactment of this Act, the Chief Economist and the Director of the Division of Corporation Finance of the Commission shall jointly submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report that includes--CommentsClose CommentsPermalink