Bill > HR9451

This bill, the Helping Angels Lead Our Startups (HALOS) Act of 2022, requires the Securities and Exchange Commission (SEC) to revise its rules on general solicitation or general advertising to allow issuers (businesses that are not in bankruptcy, receivership, investment companies, or blank check/blind pool/shell companies) to make presentations or communications at certain events, such as those sponsored by the government, colleges/universities, nonprofits, angel investor groups, venture forums, or other entities determined by the SEC. The bill specifies that the event sponsors must not make investment recommendations, engage in investment negotiations, charge attendees fees beyond reasonable administrative costs, or receive compensation for introductions or negotiations. The bill also clarifies that attending such an event does not, by itself, establish a pre-existing relationship for purposes of the SEC's Rule 506(b) exemption from registration.