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![handle is hein.congrecreports/crptxaejf0001 and id is 1 raw text is: AUTHENTICATED
U.S. GOVERNMENT
INFORMATION .
117TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 117-313
SMALL BUSINESS MERGERS, ACQUISITIONS, SALES, AND
BROKERAGE SIMPLIFICATION ACT OF 2021
MAY 10, 2022.-Committed to the Committee of the Whole House on the State of
the Union and ordered to be printed
Ms. WATERS, from the Committee on Financial Services,
submitted the following
R E P O R T
[To accompany H.R. 935]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 935) to amend the Securities Exchange Act of 1934 to ex-
empt from registration brokers performing services in connection
with the transfer of ownership of smaller privately held companies,
having considered the same, reports favorably thereon with an
amendment and recommends that the bill as amended do pass.
CONTENTS
Page
Purpose and Sum m ary ............................................................................................ 4
Background and Need for Legislation ................................................................... 4
Section-by-Section Analysis of the Legislation ..................................................... 5
H e a rin g s ................................................................................................................... 5
Com m ittee Consideration ........................................................................................ 6
C om m ittee V otes ...................................................................................................... 6
Statement of Performance Goals and Objectives .................................................. 8
New Budget Authority and C.B.O. Cost Estimate ............................................... 8
Com m ittee Cost E stim ate ....................................................................................... 9
Federal M andates Statem ent ................................................................................. 9
A dvisory Com m ittee Statem ent ............................................................................. 9
Applicability to Legislative Branch ....................................................................... 9
Congressional Earmarks, Limited Tax Benefits, and Limited Tariff Benefits ... 10
D uplicative Federal Program s ................................................................................ 10
Changes in E xisting L aw ........................................................................................ 10
The amendment is as follows:
Strike all after the enacting clause and insert the following:
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