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Private Markets Transparency and Accountability Act
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.
Read the Full Bill
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
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
2Democrat Cosponsors
2Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 4857
Primary Policy Focus
Finance and Financial SectorPotential Impact Areas
- Business records
- Corporate finance and management
- Securities
Alternate Title(s) of Bill S 4857
Private Markets Transparency and Accountability Act
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.
Comments
Sponsors and Cosponsors of S 4857
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