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H. Rept. 114-609 1 (2016-06-08)

handle is hein.congrecreports/crptxrpr0001 and id is 1 raw text is: AUT-ENTICATED US. GOVERNMENT INFORMATION GP 114TH CONGRESS REPORT 2d Session HOUSE OF REPRESENTATIVES 114-609 MAIN STREET GROWTH ACT JUNE 8, 2016.-Committed to the Committee of the Whole House on the State of the Union and ordered to be printed Mr. HENSARLING, from the Committee on Financial Services, submitted the following REPORT together with MINORITY VIEWS [To accompany H.R. 4638] [Including cost estimate of the Congressional Budget Office] The Committee on Financial Services, to whom was referred the bill (H.R. 4638) to amend the Securities Exchange Act of 1934 to allow for the creation of venture exchanges to promote liquidity of venture securities, and for other purposes, having considered the same, report favorably thereon with an amendment and rec- ommend that the bill as amended do pass. The amendment is as follows: Strike all after the enacting clause and insert the following: SECTION 1. SHORT TITLE. This Act may be cited as the Main Street Growth Act. SEC. 2. VENTURE EXCHANGES. (a) SECURITIES EXCHANGE ACT OF 1934.-Section 6 of the Securities Exchange Act of 1934 (15 U.S.C. 78f) is amended by adding at the end the following: (M) VENTURE EXCHANGE.- (1) REGISTRATION.- (A) IN GENERAL.-A national securities exchange may elect to be treated (or for a listing tier of such exchange to be treated) as a venture exchange by notifying the Commission of such election, either at the time the ex- change applies to be registered as a national securities exchange or after registering as a national securities exchange. (B) DETERMINATION TIME PERIOD.-With respect to a securities exchange electing to be treated (or for a listing tier of such exchange to be treated) as a venture exchange- (i) at the time the exchange applies to be registered as a national securities exchange, such application and election shall be deemed to 59-006

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