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1 H.R. 6177, Developing and Empowering Our Aspiring Leaders Act of 2018 1 (July 17, 2018)

handle is hein.congrec/cbodvepw0001 and id is 1 raw text is: 




                   CONGRESSIONAL BUDGET OFFICE

C                             COST ESTIMATE
                                                                     July 17, 2018


         Securities and Exchange Commission Legislation

   As ordered reported by the House Committee on Financial Services on July 11, 2018


 On July 11, the House Committee on Financial Services ordered eight bills to be reported
 related to the rules, regulations, and operations of the Securities and Exchange
 Commission  (SEC). The bills are:

    *  H.R. 3555, the Exchange Regulatory Improvement Act, would require the
       Securities and Exchange Commission (SEC) to issue regulations regarding
       its definition of what constitutes a facility used by a national securities
       exchange;

    *  H.R. 6177, the Developing and Empowering our Aspiring Leaders Act of
       2018, would direct the SEC to conduct a rulemaking to expand what types
       of asset acquisitions are considered qualifying investments for a venture
       capital fund;

    *  H.R. 6319, the Expanding Investment in Small Business Act, would require
       the SEC to conduct a study on the limitation on the amount of outstanding
       securities a closed-end fund may hold from a single issuer and still be
       classified as diversified;

    *  H.R. 6320, the Promoting Transparent Standards for Corporate Insiders
       Act, would require the SEC to conduct a study of various proposals to
       change agency rules regarding the use of written trading plans by certain
       securities traders;

    *  H.R. 6321, the Investment Adviser Regulatory Flexibility Improvement
       Act, would require the SEC to revise the definitions of a small business and
       small organization applicable for assessing the effect of the agency's
       rulemakings under the Investment Advisers Act of 1940 on those entities;

    *  H.R. 6322, the Enhancing Multi-Class Share Disclosures Act, would direct
       the SEC to issue a rule requiring securities issuers with multi-class stock
       structures to make disclosures regarding the voting power of certain
       individuals;

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