HR-79 : Still Just a Bill

Helping Angels Lead Our Startups Act or the HALOS Act

This bill directs the Securities and Exchange Commission (SEC) to revise Regulation D, which exempts certain offerings from SEC registration requirements but prohibits general solicitation or general advertising with respect to such offerings. Specifically, this prohibition shall not apply to events with specified kinds of sponsors—including "angel investor groups" unconnected to broker-dealers or investment advisers—where presentations or communications are made by or on behalf of an issuer, but:

  • the advertising does not refer to any specific offering of securities by the issuer;
  • the sponsor does not provide investment recommendation or advice to attendees, engage in investment negotiations with attendees, charge certain fees, or receive certain compensation; and
  • no specific information regarding a securities offering is communicated beyond the type and amount of securities being offered, the amount of securities already subscribed for, and the intended use of proceeds from the offering.

Action Timeline

Action DateTypeTextSource
2017-01-11IntroReferralReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.Senate
2017-01-10FloorMotion to reconsider laid on the table Agreed to without objection.House floor actions
2017-01-10VoteOn passage Passed by the Yeas and Nays: 344 - 73 (Roll no. 31).House floor actions
2017-01-10FloorThe previous question was ordered pursuant to the rule.House floor actions
2017-01-10FloorThe House rose from the Committee of the Whole House on the state of the Union to report H.R. 79.House floor actions
2017-01-10FloorThe House resolved into Committee of the Whole House on the state of the Union for further consideration.House floor actions
2017-01-10FloorConsidered as unfinished business. (consideration: CR H280-283)House floor actions
2017-01-10FloorCommittee of the Whole House on the state of the Union rises leaving H.R. 79 as unfinished business.House floor actions
2017-01-10FloorOn motion that the Committee rise Agreed to by voice vote.House floor actions
2017-01-10FloorMr. Huizenga moved that the Committee rise.House floor actions
2017-01-10FloorPOSTPONED PROCEEDINGS - At the conclusion of debate on the Clay amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the noes had prevailed. Mr. Clay demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.House floor actions
2017-01-10FloorDEBATE - Pursuant to the provisions of H.Res. 33, the Committee of the Whole proceeded with 10 minutes of debate on the Clay Part B amendment No. 2.House floor actions
2017-01-10FloorPOSTPONED PROCEEDINGS - At the conclusion of debate on the Velazquez amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the noes had prevailed. Ms. Velazquez demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.House floor actions
2017-01-10FloorDEBATE - Pursuant to the provisions of H.Res. 33, the Committee of the Whole proceeded with 10 minutes of debate on the Velazquez Part B amendment No. 1.House floor actions
2017-01-10FloorGENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 79.House floor actions
2017-01-10FloorThe Speaker designated the Honorable Mike Bost to act as Chairman of the Committee.House floor actions
2017-01-10FloorHouse resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 33 and Rule XVIII.House floor actions
2017-01-10FloorThe resolution provides for both bills to be considered under a structured rule for one hour of general debate. The resolution also provides one motion to recommit with or without instructions on both H.R. 5 and H.R. 79.House floor actions
2017-01-10FloorConsidered under the provisions of rule H. Res. 33. (consideration: CR H259-266; text of measure as reported in House: CR H264)House floor actions
2017-01-10FloorRule H. Res. 33 passed House.House floor actions
2017-01-09FloorRules Committee Resolution H. Res. 33 Reported to House. The resolution provides for both bills to be considered under a structured rule for one hour of general debate. The resolution also provides one motion to recommit with or without instructions on both H.R. 5 and H.R. 79.House floor actions
2017-01-03IntroReferralReferred to the House Committee on Financial Services.House floor actions
2017-01-03IntroReferralIntroduced in HouseLibrary of Congress

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