Bill > HR3768

This bill amends the Securities Exchange Act of 1934 to create a safe harbor for private placement brokers and finders. It requires the Securities and Exchange Commission (SEC) to establish registration requirements for private placement brokers that are no more stringent than those imposed on crowdfunding portals, and allows for membership in any national securities association for these brokers. The bill also exempts finders (individuals who receive limited transaction-based compensation for connecting issuers and buyers) from the registration requirements of the Act. Additionally, the bill prohibits states from imposing greater requirements on private placement brokers and finders than those established under the federal safe harbors.