Bill > HR2799

This bill, the Expanding Access to Capital Act of 2023, makes various reforms to the capital markets of the United States. Key provisions include: allowing companies to calculate market value based on all outstanding stock when determining financial statement significance for acquisitions and dispositions; increasing the criteria for emerging growth company status; providing auditor independence standards for past audits before a company goes public; expanding the protection for research reports to cover all securities of all issuers; excluding qualified institutional buyers and institutional accredited investors from the record holder count for mandatory registration; expanding the definition of a well-known seasoned issuer; creating safe harbors for private placement brokers and finders; allowing closed-end companies to invest in private funds; and making various other changes to increase access to capital for startups, small businesses, and investors.