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H.R. 2201, Micro Offering Safe Harbor Act (CBO Report for Congress)

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Congress 115th
Date Requested Oct. 12, 2017
Requested By House Committee on Financial Services
Date Sent Oct. 30, 2017
Description:

Under current law, the Securities and Exchange Commission (SEC) prohibits the sale or delivery of securities that have not been registered with the agency. Some transactions are exempt from this prohibition. H.R. 2201 would expand the exemption to include the sale of securities that meet certain criteria regarding the number of purchasers and aggregate offering amount sold by the issuer in a 12-month period. The bill also would exempt such transactions from state regulation of securities offerings.

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