Unlocking Capital for Small Businesses Act of 2022
This bill died when its Congress ended.
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This bill revises the regulatory treatment of private-placement brokers (brokers who receive transaction-based compensation for the sale of securities to preselected individuals or institutions) and finders (private-placement brokers who do not exceed a specified amount of compensation, transaction value, or number of transactions in a year). Specifically, the bill (1) requires the Securities and Exchange Commission to establish registration requirements for private-placement brokers that are no more stringent than those imposed on crowdfunding portals, (2) allows for membership in any national securities association for private-placement brokers, (3) exempts private-placement brokers from broker regulations, and (4) otherwise modifies provisions related to private-placement brokers and finders.
Filed in the Senate
This senate bill has been filed and is working its way through Congress. It will need to pass both the Senate and the House, then be signed by the President to become law.
Who introduced this
Kevin Cramer
RepublicanU.S. Senator · ND
Introduced solo — no cosponsors joined.
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