PlainBillCongress, translated.Legislation. Context. Public interest.Ordered to be Reported by the Yeas and Nays: 31 - 28.
Congressional Research Service
Version 00 · Introduced in House · May 6, 2014
Private Placement Improvement Act of 2014 - Directs the Securities and Exchange Commission (SEC) to revise the filing requirements of Regulation D to require an issuer that offers or sells securities in reliance upon a certain exemption from registration (for limited offers and sales without regard to the dollar amount of the offering [Rule 506]) to file, no earlier than the date of first sale of such securities, a single notice of sales containing the information required by Form D for each new offering of securities.
Prohibits the SEC from: (1) requiring the issuer to file any notice of sales containing the information required by Form D except for this single notice; (2) conditioning the availability of the Rule 506 exemption upon the filing of a Form D or similar report; or (3) requiring issuers to submit written general solicitation materials in connection with a limited offering subject to Rule 506, except when it requests such materials pursuant to specified authority.
Directs the SEC to revise a specified rule, regarding a Rule 506 offering of a private fund, to characterize as an accredited investor a "knowledgeable employee" of that private fund or the fund's investment adviser.
Showing the opening paragraphs of the official summary.
Prohibits the SEC from extending to private funds the requirements governing investment company sales literature.
People & committees
Rep. Garrett, Scott [R-NJ-5] · R–NJ
Legislative record
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Ordered to be Reported by the Yeas and Nays: 31 - 28.
Committee Consideration and Mark-up Session Held.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Introduction and Referral.
Primary sources
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Source last updated: Aug 12, 2025. Consult Congress.gov for the current record.
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