On March 8, 2024, the House of Representatives passed the Expanding Access to Capital Act, H.R. 2799, which we had previously posted on the blog.
There were several amendments to the Act, including the following:
On March 5, 2024, the House will consider capital formation related legislation, H.R. 2799. This was originally introduced in April 2023 and reported out in July 2023. It is comprised of 19 separate bills. The House Financial Services Committee heard testimony on these bills in 2023, access my testimony on several of these bills.…
In early June, the US House of Representatives passed two sets of bills focused on promoting capital formation. The bipartisan effort included bills that amend the accredited investor definition in order to increase the diversity of investors participating in the private markets. In addition, as the IPO market continues to suffer, the packages include bills that would…
On February 18, 2022, the US Senate unanimously passed the Courthouse Ethics and Transparency Act, which requires all US federal judges to publish their financial disclosure reports to the public. This legislation closely follows the bipartisan bill passed by the House in December 2021, which sought a similar outcome (see our related post…
Recent investigations share findings that over 130 US Federal judges presided over cases in which they had a financial conflict of interest since 2010. In a 422-4 vote this week, the House passed a bipartisan bill that would require US federal judges to share their financial disclosure reports publicly.
Under this bill designed, which is…
Two pieces of legislation aimed at imposing additional regulations on special purpose acquisition companies (“SPACs”) were recently introduced in the US House of Representatives. H.R. 5910, the “Holding SPACs Accountable Act of 2021,” sponsored by Rep. Michael San Nicolas (D-GU), and H.R. 5913, the “Protecting Investors from Excessive SPACs Fees Act of 2021,” sponsored by…
The special purpose acquisition company (“SPAC”) craze took the world by storm during 2020 and early 2021. SPACs continue to dominate the finance and business news cycles, with headlines of unicorns choosing to go public through this IPO-alternative. More recently, the future of the SPAC market has been called into question, as concerns have arisen…
On April 29, 2021, Sen. John Kennedy (R) introduced the Sponsor Promote and Compensation (SPAC) Act (the “bill”), which would require the SEC to issue rules requiring enhanced disclosures for blank check companies, including SPACs, during the IPO and pre-merger stages.
Specifically, the SPAC Act calls for rules requiring the disclosure of:
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On May 20, 2020, the U.S. Senate unanimously approved bipartisan legislation (the “bill”) that would amend Section 104 of the Sarbanes-Oxley Act of 2002. The bill would require that Chinese companies that have a class of securities listed or quoted on stock exchanges in the United States could be delisted by such exchanges for, among…
This past week, the House Financial Services Committee considered and passed a few bills that would, if passed by the House, result in changes to the securities laws. These include:
The Investor Protection and Capital Markets Fairness Act (H.R.4344), a bill by Representative Ben McAdams (D-UT), would substantially strengthen the authority of the Securities and…
