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A bill to amend the Securities Exchange Act of 1934 to create a safe harbor for finders and private placement brokers, and for other purposes.

6/12/2024, 10:56 AM

Summary of Bill S 4493

Bill 118 s 4493, also known as the "Finders and Private Placement Brokers Safe Harbor Act," aims to amend the Securities Exchange Act of 1934 to provide a safe harbor for finders and private placement brokers. The bill seeks to clarify the regulatory framework for these individuals who assist in connecting investors with companies seeking capital through private placements.

The main purpose of this bill is to provide legal protection for finders and private placement brokers who may not fit neatly within the current regulatory structure. By creating a safe harbor, these individuals can operate with more certainty and confidence, knowing that they are not in violation of securities laws.

The bill also aims to streamline the process for companies seeking to raise capital through private placements by providing clear guidelines for the involvement of finders and brokers. This could potentially make it easier for small and medium-sized businesses to access the capital they need to grow and expand. Overall, the Finders and Private Placement Brokers Safe Harbor Act seeks to modernize and clarify the regulatory framework for finders and brokers in the securities industry, with the ultimate goal of promoting capital formation and economic growth.

Current Status of Bill S 4493

Bill S 4493 is currently in the status of Bill Introduced since June 11, 2024. Bill S 4493 was introduced during Congress 118 and was introduced to the Senate on June 11, 2024.  Bill S 4493's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of June 11, 2024

Bipartisan Support of Bill S 4493

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 4493

Primary Policy Focus

Alternate Title(s) of Bill S 4493

A bill to amend the Securities Exchange Act of 1934 to create a safe harbor for finders and private placement brokers, and for other purposes.
A bill to amend the Securities Exchange Act of 1934 to create a safe harbor for finders and private placement brokers, and for other purposes.

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