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Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021

12/30/2022, 3:34 AM

Congressional Summary of S 3391

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021

This bill exempts from securities registration requirements certain merger-and-acquisition brokers that facilitate transfer of ownership in privately held companies with earnings or revenues under a specified threshold. However, this exemption shall not apply to certain brokers, including those that provide financing related to the transfer of ownership, engage on behalf of any party in a transaction involving specified shell companies, or are subject to suspension or revocation of registration.

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Current Status of Bill S 3391

Bill S 3391 is currently in the status of Bill Introduced since December 14, 2021. Bill S 3391 was introduced during Congress 117 and was introduced to the Senate on December 14, 2021.  Bill S 3391's most recent activity was Committee on Banking, Housing, and Urban Affairs. Hearings held. as of April 5, 2022

Bipartisan Support of Bill S 3391

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 3391

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Banking and financial institutions regulation
- Business records
- Corporate finance and management
- Licensing and registrations
- Securities
- Small business

Alternate Title(s) of Bill S 3391

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021
Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021
A bill to amend the Securities Exchange Act of 1934 to establish a registration exemption for merger and acquisition brokers, and for other purposes.

Comments

Sponsors and Cosponsors of S 3391

John Kennedy
John Kennedy
LouisianaRepublican

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