TheCorporateCounsel.net

The members of the House of Representatives managed to pry themselves away from the cable news networks’ microphones long enough to pass a bunch of bipartisan legislation aimed at facilitating capital formation. Here’s the intro to this Mayer Brown blog:

In early June, the US House of Representatives passed two sets of bills focused on promoting capital formation. The bipartisan effort included bills that amend the accredited investor definition in order to increase the diversity of investors participating in the private markets. In addition, as the IPO market continues to suffer, the packages include bills that would enact legislation formalizing measures that already are permitted by SEC staff, such as, for example, expanding “testing-the-waters” accommodations to all issuers. Also, the package includes a bill directing the SEC to investigate the costs associated with going public for middle market companies.

The blog includes brief summaries of each piece of legislation as well as links to the text of the bills. It says that the next stop for this package is the Senate Committee on Banking, Housing, and Urban Affairs.

– John Jenkins