summary
Introduced
06/21/2018
06/21/2018
In Committee
07/11/2018
07/11/2018
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
Developing and Empowering our Aspiring Leaders Act of 2018 This bill directs the Securities and Exchange Commission (SEC) to exempt certain investments by venture capital funds in emerging growth companies (in general, newly public companies with revenues below a specified threshold) from SEC registration requirements.
AI Summary
This bill directs the Securities and Exchange Commission (SEC) to revise the definition of a "qualifying investment" under the Investment Advisers Act of 1940. Specifically, it requires the SEC to include equity securities issued by "emerging growth companies" (newly public companies with revenues below a specified threshold) as qualifying investments, whether acquired directly from the company or in a secondary market transaction. This change would allow venture capital funds to invest in these emerging growth companies without having to register with the SEC.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Placed on the Union Calendar, Calendar No. 687. (on 08/03/2018)
Official Document
bill text
bill summary
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bill summary
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bill summary
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