Private Markets Transparency and Accountability Act

Senate Bill 4857 - Private Markets Transparency and Accountability Act: Overview, Status, and Impact

Hozzl · 2024-03-13T03:41:50Z

Explore the details of Senate Bill 4857 Private Markets Transparency and Accountability Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

3/13/2024, 3:41 AM

Congressional Summary of S 4857

Private Markets Transparency and Accountability Act

This bill requires certain private companies to register with the Securities and Exchange Commission (SEC) and thereby publicly disclose business practices and financial information.

Under current law, companies with assets exceeding $10 million and with a class of securities held by either 2,000 persons, or 500 persons who are not accredited investors, must register with the SEC. In addition, the bill requires companies to register if (1) their valuation exceeds $700 million, or (2) their annual revenue exceeds $5 billion and they have at least 5,000 employees.

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Current Status of Bill S 4857

Bill S 4857 is currently in the status of Bill Introduced since September 15, 2022. Bill S 4857 was introduced during Congress 117 and was introduced to the Senate on September 15, 2022. Bill S 4857's most recent activity was Committee on Banking, Housing, and Urban Affairs. Hearings held. as of December 14, 2022

Bipartisan Support of Bill S 4857

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 4857

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Business records

- Corporate finance and management

- Securities

Alternate Title(s) of Bill S 4857

Private Markets Transparency and Accountability Act

A bill to amend the Securities Exchange Act of 1934 to require companies to file public reports after meeting certain quantitative thresholds, and for other purposes.