US HR79

Bill

HALOS Act Helping Angels Lead Our Startups Act

Introduced
01/03/2017

In Committee
01/03/2017

Crossed Over
01/11/2017

Passed

Dead
12/31/2018

Introduced Session

115th Congress

Bill Summary

HALOS Act Helping Angels Lead Our Startups Act (Sec. 3) This bill directs the Securities and Exchange Commission (SEC) to revise Regulation D, which exempts certain offerings from SEC registration requirements but prohibits general solicitation or general advertising with respect to such offerings. Specifically, this prohibition shall not apply to events with specified kinds of sponsors -- including "angel investor groups" unconnected to broker-dealers or investment advisers -- where presentations or communications are made by or on behalf of an issuer, but: the advertising does not refer to any specific offering of securities by the issuer; the sponsor does not provide investment recommendation or advice to attendees, engage in investment negotiations with attendees, charge certain fees, or receive certain compensation; and no specific information regarding a securities offering is communicated beyond the type and amount of securities being offered, the amount of securities already subscribed for, and the intended use of proceeds from the offering.

AI Summary

This bill, the Helping Angels Lead Our Startups (HALOS) Act, directs the Securities and Exchange Commission (SEC) to revise Regulation D, which exempts certain securities offerings from registration requirements but prohibits general solicitation or advertising. The bill specifies that this prohibition shall not apply to events sponsored by certain entities, such as angel investor groups, colleges, and nonprofits, where the advertising does not reference any specific securities offering, the sponsor does not provide investment advice or engage in negotiations, and the issuer only communicates general information about the offering. This is intended to clarify the definition of "general solicitation" under federal securities law and facilitate startup companies' ability to connect with angel investors at these types of events.

Committee Categories

Business and Industry, Housing and Urban Affairs

Sponsors (16)

Steve Chabot (R)*, Andy Barr (R), Ryan Costello (R), Carlos Curbelo (R), John Delaney (D), Randy Hultgren (R), Stephen Knight (R), Scott Peters (D), Jared Polis (D), Bill Posey (R), Amata Radewagen (R), Brad Schneider (D), Pete Sessions (R), Kyrsten Sinema (I), Ann Wagner (R), Roger Williams (R),

Last Action

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 01/11/2017)

Official Document

https://www.congress.gov/bill/115th-congress/house-bill/79/all-info

(8 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/115th-congress/house-bill/79/all-info
BillText	https://www.congress.gov/115/bills/hr79/BILLS-115hr79eh.pdf
Bill	https://www.congress.gov/115/bills/hr79/BILLS-115hr79eh.pdf.pdf
BillText	https://www.congress.gov/115/bills/hr79/BILLS-115hr79ih.pdf
Bill	https://www.congress.gov/115/bills/hr79/BILLS-115hr79ih.pdf.pdf

Bill	Bill Name	Last Action	Type
HR10	Financial CHOICE Act of 2017	Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-108.	Related
HR3280	Financial Services and General Government Appropriations Act, 2018	Committee on Appropriations Senate Subcommittee on Financial Services and General Government. Hearings held on the subject prior to measure being received from the House. Hearings printed: S. Hrg. 115-191.	Related
HR3354	Interior and Environment, Agriculture and Rural Development, Commerce, Justice, Science, Financial Services and General Government, Homeland Security, Labor, Health and Human Services, Education, State and Foreign Operations, Transportation, Housing and Urban Development, Defense, Military Construction and Veterans Affairs, Legislative Branch, and Energy and Water Development Appropriations Act, 2018 Make America Secure and Prosperous Appropriations Act, 2018	Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 230.	Related
HR6147	Interior, Environment, Financial Services, and General Government Appropriations Act, 2019	Message on Senate action sent to the House.	Related
HRes33	Providing for consideration of the bill (H.B. 5) to reform the process by which Federal agencies analyze and formulate new regulations and guidance documents, to clarify the nature of judicial review of agency interpretations, to ensure complete analysis of potential impacts on small entities of rules, and for other purposes, and providing for consideration of the bill (H.B. 79) to clarify the definition of general solicitation under Federal securities law.	Motion to reconsider laid on the table Agreed to without objection.	Related
HRes375	Providing for consideration of the bill (H.B. 10) to create hope and opportunity for investors, consumers, and entrepreneurs by ending bailouts and Too Big to Fail, holding Washington and Wall Street accountable, eliminating red tape to increase access to capital and credit, and repealing the provisions of the Dodd-Frank Act that make America less prosperous, less stable, and less free, and for other purposes.	Motion to reconsider laid on the table Agreed to without objection.	Similar To
S488	JOBS and Investor Confidence Act of 2018	Message on House action received in Senate and at desk: House amendments to Senate bill.	Related
S588	HALOS Act Helping Angels Lead Our Startups Act	Committee on Banking, Housing, and Urban Affairs. Hearings held.	Related

Bill > HR79

US HR79

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Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (16)

Last Action

Official Document

bill text

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