| 1 | 1 | | I |
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| 2 | 2 | | 118THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION H. R. 2605 |
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| 5 | 5 | | To amend the Securities Exchange Act of 1934 to exclude qualified institu- |
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| 6 | 6 | | tional buyers and institutional accredited investors when calculating hold- |
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| 7 | 7 | | ers of a security for purposes of the mandatory registration threshold |
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| 8 | 8 | | under such Act, and for other purposes. |
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| 9 | 9 | | IN THE HOUSE OF REPRESENTATIVES |
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| 10 | 10 | | APRIL13, 2023 |
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| 11 | 11 | | Mr. M |
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| 12 | 12 | | CHENRYintroduced the following bill; which was referred to the |
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| 13 | 13 | | Committee on Financial Services |
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| 14 | 14 | | A BILL |
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| 15 | 15 | | To amend the Securities Exchange Act of 1934 to exclude |
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| 16 | 16 | | qualified institutional buyers and institutional accredited |
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| 17 | 17 | | investors when calculating holders of a security for pur- |
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| 18 | 18 | | poses of the mandatory registration threshold under such |
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| 19 | 19 | | Act, and for other purposes. |
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| 20 | 20 | | Be it enacted by the Senate and House of Representa-1 |
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| 21 | 21 | | tives of the United States of America in Congress assembled, 2 |
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| 22 | 22 | | SECTION 1. EXCLUSIONS FROM MANDATORY REGISTRA-3 |
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| 23 | 23 | | TION THRESHOLD. 4 |
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| 24 | 24 | | (a) I |
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| 25 | 25 | | NGENERAL.—Section 12(g)(1) of the Securities 5 |
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| 26 | 26 | | Exchange Act of 1934 (15 U.S.C. 78l(g)(1)) is amended— 6 |
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| 27 | 27 | | VerDate Sep 11 2014 03:51 Apr 15, 2023 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H2605.IH H2605 |
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| 28 | 28 | | kjohnson on DSK79L0C42PROD with BILLS 2 |
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| 29 | 29 | | •HR 2605 IH |
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| 30 | 30 | | (1) in paragraph (A)(i), by inserting after ‘‘per-1 |
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| 31 | 31 | | sons’’ the following: ‘‘(that are not a qualified insti-2 |
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| 32 | 32 | | tutional buyer or an institutional accredited inves-3 |
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| 33 | 33 | | tor)’’; and 4 |
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| 34 | 34 | | (2) in paragraph (B), by inserting after ‘‘per-5 |
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| 35 | 35 | | sons’’ the following: ‘‘(that are not a qualified insti-6 |
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| 36 | 36 | | tutional buyer or an institutional accredited inves-7 |
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| 37 | 37 | | tor)’’. 8 |
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| 38 | 38 | | (b) N |
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| 39 | 39 | | ONAPPLICABILITY OF GENERALEXEMPTIVE 9 |
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| 40 | 40 | | A |
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| 41 | 41 | | UTHORITY.—Section 36 of the Securities Exchange Act 10 |
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| 42 | 42 | | of 1934 (15 U.S.C. 78mm) shall not apply to the matter 11 |
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| 43 | 43 | | inserted by the amendments made by subsection (a). 12 |
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| 44 | 44 | | Æ |
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| 45 | 45 | | VerDate Sep 11 2014 03:51 Apr 15, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H2605.IH H2605 |
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| 46 | 46 | | kjohnson on DSK79L0C42PROD with BILLS |
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