House Bill 3972
115th Congress(2017-2018)
Family Office Technical Correction Act of 2017
Active
Passed House on Oct 24, 2017
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
3972
Congress
115
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
checkPassed on October 24, 2017
Status
Passed
Type
Voice Vote
Voice Vote
A vote in which the presiding officer states the question, then asks those in favor and against to say "Yea" or "Nay," respectively, and announces the result according to his or her judgment. The names or numbers of senators voting on each side are not recorded.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H8097)
Summary
Family Office Technical Correction Act of 2017
This bill provides that family offices and family clients are accredited investors as set forth by the Securities and Exchange Commission (SEC) in Regulation D, which exempts certain offerings from SEC registration requirements but prohibits general solicitation or general advertising with respect to such offerings. (A family office is a company that has no clients other than family clients, is wholly owned and exclusively controlled by family clients, and does not hold itself out to the public as an investment advisor.)
October 25, 2017
October 24, 2017
October 23, 2017
October 5, 2017
10/25/2017
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
10/24/2017
Motion to reconsider laid on the table Agreed to without objection.
10/24/2017
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8097)
10/24/2017
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H8097)
10/24/2017
DEBATE - The House proceeded with forty minutes of debate on H.R. 3972.
10/24/2017
Considered under suspension of the rules. (consideration: CR H8097-8099)
10/24/2017
Mr. Barr moved to suspend the rules and pass the bill, as amended.
10/23/2017
Placed on the Union Calendar, Calendar No. 266.
10/23/2017
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-362.
10/12/2017
Ordered to be Reported (Amended) by the Yeas and Nays: 60 - 0.
10/12/2017
Committee Consideration and Mark-up Session Held.
10/11/2017
Committee Consideration and Mark-up Session Held.
10/05/2017
Referred to the House Committee on Financial Services.
10/05/2017
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:38:28 PM