House Bill 1553
118th Congress(2023-2024)
HALOS Act of 2023
Introduced
Introduced in House on Mar 10, 2023
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
1553
Congress
118
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
Helping Angels Lead Our Startups Act of 2023 or the HALOS Act of 2023
This bill directs the Securities and Exchange Commission (SEC) to revise Regulation D, which exempts certain securities offerings from SEC registration requirements but prohibits general solicitation or general advertising with respect to such offerings. Under the bill, 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, if
- 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.
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12/12/2023
Placed on the Union Calendar, Calendar No. 250.
12/12/2023
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-310.
05/24/2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 35 - 12.
05/24/2023
Committee Consideration and Mark-up Session Held
03/10/2023
Referred to the House Committee on Financial Services.
03/10/2023
Introduced in House
Public Record
Record Updated
Nov 8, 2024 7:26:57 PM