SECURITIES ACT

Bills and resolutions

Financial Accounting Standards Board: comply with Administrative Procedure Act and Government in the Sunshine Act, conduct cost-benefit analysis on accounting standards, and require head to testify before Congress (see H.R. 9315), H8541 [16NO]

SEC: add additional investment thresholds for individual to qualify as accredited investor (see H.R. 9405), H8729 [2DE]

——— define secondary offerings of Regulation A tier 2 securities as covered securities for purposes of exemption from State regulation (see S. 3966), S1867 [30MR]

——— expand research report exception to include reports about any issuer that undertakes proposed offering of public securities (see H.R. 9605), H9902 [15DE]

——— extend maximum period company can be emerging growth company from five years to ten years (see S. 4992), S5225 [28SE]

——— permit issuers to submit draft registration statements for confidential review for both initial public offers and follow-on offers and set deadlines for when such statements shall be made public (see H.R. 9412), H8730 [2DE]

——— preempt State securities law requiring registration for secondary transactions (see S. 3967), S1867 [30MR] (see H.R. 9478), H8873 [8DE]

——— prohibit certain securities trading and related communications by those who possess material, nonpublic information to prevent insider trading (see S. 3990), S1936 [4AP]

——— provide small issuers with micro-offering exemption free of mandated disclosures or offering filings, but subject to antifraud provisions of Federal securities laws (see S. 3939), S1803 [28MR]

——— require that information required to be disclosed by issuers be material to investors of those issuers (see S. 5005), S5540 [29SE] (see H.R. 9408), H8729 [2DE]

——— support current definition of materiality in securities laws and oppose new disclosure requirements outside core mission (see H. Res. 1028), H4191 [5AP]

Small business: amend laws relative to small company capital formation (see H.R. 9452), H8823 [7DE]

Remarks in Senate

SEC: prohibit certain securities trading and related communications by those who possess material, nonpublic information to prevent insider trading (S. 3990), S1937 [4AP]