[House Prints 115-43]
[From the U.S. Government Publishing Office]





G:\CMTE\RU\15\RCP\RCP477.XML 









                             NOVEMBER 29, 2017
                             
                             
 
                           
                       RULES COMMITTEE PRINT 115-43
                       
               TEXT OF H.R. 477, SMALL BUSINESS MERGERS, 
                 ACQUISITIONS, SALES, AND BROKERAGE SIM-
                 PLIFICATION ACT OF 2017 
                 
        [Showing the text of H.R. 477 as ordered reported by the 
                     Committee on Financial Services.]
                     
                     
                     
1  SECTION 1. SHORT TITLE.  

2       This Act may be cited as the "Small Business Mergï¿½ 

3  ers, Acquisitions, Sales, and Brokerage Simplification Act  

4  of 2017".  

5  SEC. 2. REGISTRATION EXEMPTION FOR MERGER AND AC- 

6                 QUISITION BROKERS.  

7       Section 15(b) of the Securities Exchange Act of 1934  

8  (15 U.S.C. 78o(b)) is amended by adding at the end the  

9  following:  

10           "(13) REGISTRATION EXEMPTION FOR MERGER  

11      AND ACQUISITION BROKERS.-- 

12               "(A) IN GENERAL.--Except as provided in  

13            subparagraph (B), an M&A broker shall be ex- 

14            empt from registration under this section.  

15               "(B) EXCLUDED  ACTIVITIES.--An M&A  

16            broker is not exempt from registration under  




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November 29, 2017 (2:09 p.m.) 


[TEXT NOT AVAILABLE]