US HR432

Bill

US HR432

SBIC Advisers Relief Act of 2015

Introduced
01/21/2015

In Committee
05/20/2015

Crossed Over
07/15/2015

Passed

Dead
01/03/2017

Introduced Session

114th Congress

Bill Summary

SBIC Advisers Relief Act of 2015 (Sec. 2) Amends the Investment Advisers Act of 1940 to exempt specified advisers of small business investment companies (SBICs) from certain: (1) Securities and Exchange Commission (SEC) registration requirements with respect to the provision of investment advice relating to venture capital funds, and (2) SEC registration and reporting requirements with respect to assets under management of private funds. (Sec. 4) Provides the same exemption with respect to any state or local law requiring the registration, licensing, or qualifications of investment advisers.

AI Summary

This bill, the SBIC Advisers Relief Act of 2015, aims to reduce overlapping regulations for advisors who manage Small Business Investment Companies (SBICs). Specifically, it amends the Investment Advisers Act of 1940 to exempt certain SBIC advisors from needing to register with the Securities and Exchange Commission (SEC) when providing advice related to venture capital funds, and also from SEC registration and reporting requirements concerning the assets managed within private funds. The bill clarifies that for these purposes, a venture capital fund can include specific types of entities that are not regulated as business development companies. Furthermore, it extends these exemptions to cover any state or local laws that would otherwise require investment advisors to register, be licensed, or meet certain qualifications.

Committee Categories

Business and Industry, Housing and Urban Affairs

Sponsors (10)

Blaine Luetkemeyer (R)*, Robert Dold (R), Bill Foster (D), Frank Guinta (R), Carolyn Maloney (D), Gwen Moore (D), Mick Mulvaney (R), Patrick Murphy (D), Keith Rothfus (R), Kyrsten Sinema (I),

Last Action

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 07/15/2015)

Official Document

https://www.congress.gov/bill/114th-congress/house-bill/432/all-info

(2 Companion Bills)

Version:

Document Type	Source Location	Created
State Bill Page	https://www.congress.gov/bill/114th-congress/house-bill/432/all-info	01/22/2015
BillText	https://www.congress.gov/114/bills/hr432/BILLS-114hr432rh.pdf	07/07/2016
BillText	https://www.congress.gov/114/bills/hr432/BILLS-114hr432ih.pdf	07/07/2016
BillText	https://www.congress.gov/114/bills/hr432/BILLS-114hr432eh.pdf	07/07/2016
Bill	https://www.congress.gov/114/bills/hr432/BILLS-114hr432ih.pdf.pdf	07/07/2016
Bill	https://www.congress.gov/114/bills/hr432/BILLS-114hr432rh.pdf.pdf	07/07/2016
Bill	https://www.congress.gov/114/bills/hr432/BILLS-114hr432eh.pdf.pdf	07/07/2016
BillText	http://gpo.gov/fdsys/pkg/BILLS-114hr432eh/pdf/BILLS-114hr432eh.pdf	07/16/2015
Bill	http://gpo.gov/fdsys/pkg/BILLS-114hr432eh/pdf/BILLS-114hr432eh.pdf.pdf	07/16/2015
BillText	http://gpo.gov/fdsys/pkg/BILLS-114hr432rh/pdf/BILLS-114hr432rh.pdf	07/15/2015
Bill	http://gpo.gov/fdsys/pkg/BILLS-114hr432rh/pdf/BILLS-114hr432rh.pdf.pdf	07/15/2015
BillText	http://gpo.gov/fdsys/pkg/BILLS-114hr432ih/pdf/BILLS-114hr432ih.pdf	01/25/2015
Bill	http://gpo.gov/fdsys/pkg/BILLS-114hr432ih/pdf/BILLS-114hr432ih.pdf.pdf	01/25/2015

Bill	Bill Name	Last Action	Type
HR22	Fixing America's Surface Transportation Act or the FAST Act	Became Public Law No: 114-94. (TXT \| PDF)	Related
S1978	A bill to amend the Investment Advisers Act of 1940 to prevent duplicative regulation of advisers of small business investment companies.	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.	Same As

Bill > HR432

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (10)

Last Action

Official Document

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