Bill > HR9459

This bill amends the Securities Exchange Act of 1934 to exclude qualified institutional buyers (QIBs) and institutional accredited investors when calculating the number of holders of a security for purposes of the mandatory registration threshold under the Act. This means that QIBs and institutional accredited investors will not be counted towards the threshold that requires a company to register its securities with the Securities and Exchange Commission (SEC). The bill also specifies that the SEC's general exemptive authority does not apply to this change, ensuring that QIBs and institutional accredited investors remain excluded from the mandatory registration threshold calculation.