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![handle is hein.congrecreports/crptxabqa0001 and id is 1 raw text is: AUTHENTICATEO
U.S. GOVERNMENT
INFORMATION
Op
115TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 115-888
PUBLIC COMPANY REGISTRATION THRESHOLD ACT
AUGUST 3, 2018.-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. 5051]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 5051) to amend the Securities Exchange Act of 1934 to
revise the shareholder threshold for registration under such Act,
and for other purposes, having considered the same, report favor-
ably thereon without amendment and recommend that the bill do
pass.
PURPOSE AND SUMMARY
On February 18, 2018, Representative Sean Duffy introduced
H.R. 5051, the Public Company Registration Threshold Act. H.R.
5051 amends section 12(g) of the Securities Exchange Act of 1934
(Exchange Act) to raise the threshold for companies to register as
a public reporting company with the U.S. Securities and Exchange
Commission (SEC) from 500 to 2,000 non-accredited investors and
indexes the current $10 million threshold for inflation. Addition-
ally, the bill raises the threshold under section 12(g) for issuers to
terminate a class of securities from 300 to 1,200 investors. Lastly,
the bill amends section 15(d) of the Exchange Act to raise the ex-
emption for filing supplemental and periodic information with the
SEC from 300 to 1,200 investors.
79-006](ViewImageLocal?handle=hein.congrecreports/crptxabqa0001&div=1&collection=&method=preview&ext=.png&size=3)