HR-4498 : Still Just a Bill

Helping Angels Lead Our Startups Act or the HALOS Act

This bill directs the Securities and Exchange Commission to amend Regulation D (governing the limited offer and sale of securities without registration under the Securities Act of 1933) to make the prohibition against general solicitation or general advertising inapplicable to events with specified kinds of sponsors (including angel investor groups not connected to broker-dealers or investment advisers) where:

  • presentations or communications are made by or on behalf of an issuer,
  • the advertising does not refer to any specific offering of securities by the issuer,
  • the sponsor does not engage in certain activities (such as offering investment recommendations or advice to attendees),
  • the sponsor does not receive compensation for the event which would require registration as a broker or dealer or as an investment advisor, and
  • no specific information regarding a securities offering is communicated (other than that the issuer is in the process of offering or planning to offer securities, including the type and amount of securities being offered).

This bill may only be construed as requiring the SEC to amend Regulation D with respect to presentations and communications, and not with respect to purchases or sales.

Action Timeline

Action DateTypeTextSource
2016-04-28IntroReferralReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.Senate
2016-04-27FloorMotion to reconsider laid on the table Agreed to without objection.House floor actions
2016-04-27VoteOn passage Passed by the Yeas and Nays: 325 - 89 (Roll no. 171). (text: CR H2037-2038)House floor actions
2016-04-27FloorDEBATE - Pursuant to the provisions of H.Res. 701, the House proceeded with 10 minutes of debate on the Waters amendment.House floor actions
2016-04-27FloorDEBATE - The House proceeded with one hour of debate on H.R. 4498.House floor actions
2016-04-27FloorRule provides for consideration of H.R. 4498 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. A specified amendment is in order.House floor actions
2016-04-27FloorConsidered under the provisions of rule H. Res. 701. (consideration: CR H2037-2046)House floor actions
2016-04-27FloorRule H. Res. 701 passed House.House floor actions
2016-04-26FloorRules Committee Resolution H. Res. 701 Reported to House. Rule provides for consideration of H.R. 4498 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. A specified amendment is in order.House floor actions
2016-04-19CalendarsPlaced on the Union Calendar, Calendar No. 389.House floor actions
2016-04-19CommitteeReported by the Committee on Financial Services. H. Rept. 114-509.House floor actions
2016-03-02CommitteeOrdered to be Reported by the Yeas and Nays: 44 - 13.House committee actions
2016-03-02CommitteeCommittee Consideration and Mark-up Session Held.House committee actions
2016-02-09IntroReferralReferred to the House Committee on Financial Services.House floor actions
2016-02-09IntroReferralIntroduced in HouseLibrary of Congress
2015-12-02CommitteeHearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Introduction and Referral.House committee actions

Sponsor :

Rep. Chabot, Steve [R-OH-1]
See Cosponsors

Policy Area :

Finance and Financial Sector
See Subjects
  • Administrative law and regulatory procedures
  • Business investment and capital
  • Financial services and investments
  • Higher education
  • Marketing and advertising
  • Securities
  • Securities and Exchange Commission (SEC)
  • Social work, volunteer service, charitable organizations

Related Bills

See Related Bills