Bill Passed: To direct the Securities and Exchange Commission to revise any rules necessary to enable closed-end companies to use the securities offering and proxy rules that are available to other issuers of securities.
The bill passed the House on Jan 17, 2018. The sponsor was (R) Representative Trey Hollingsworth from IN.
Summary: Expanding Investment Opportunities Act (Sec. 2) This bill directs the Securities and Exchange Commission to revise registration rules to allow a closed-end company to use offering and proxy rules currently available to other issuers of securities, thereby reducing filing requirements and restrictions on communications with investors in certain circumstances. (A closed-end company is a publicly traded investment management company that sells a limited number of shares to investors in an initial public offering.)
This bill mainly relates to these subjects; Finance and Financial Sector.
- (R) Rep. Randy Hultgren from IL
- (D) Rep. Bill Foster from IL
- (D) Rep. Josh Gottheimer from NJ