HOUSE 1553 (118th Congress) — HALOS Act of 2023

Actions

2023-12-12Placed on the Union Calendar, Calendar No. 250.
2023-12-12Reported (Amended) by the Committee on Financial Services. H. Rept. 118-310.
2023-12-12Reported (Amended) by the Committee on Financial Services. H. Rept. 118-310.
2023-05-24Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 35 - 12.
2023-05-24Committee Consideration and Mark-up Session Held
2023-03-10Referred to the House Committee on Financial Services.
2023-03-10Introduced in House
2023-03-10Introduced in House

CRS Summary

As of 2023-12-12 (07)

Helping Angels Lead Our Startups Act of 2023 or the HALOS Act of 2023

This bill directs the Securities and Exchange Commission (SEC) to revise Regulation D, which exempts certain securities offerings from SEC registration requirements but prohibits general solicitation or general advertising with respect to such offerings. Under the bill, this prohibition shall not apply to events with specified kinds of sponsors—including angel investor groups unconnected to broker-dealers or investment advisers—where presentations or communications are made by or on behalf of an issuer, if

the advertising does not refer to any specific offering of securities by the issuer;
the sponsor does not provide investment recommendation or advice to attendees, engage in investment negotiations with attendees, charge certain fees, or receive certain compensation; and
no specific information regarding a securities offering is communicated beyond the type and amount of securities being offered, the amount of securities already subscribed for, and the intended use of proceeds from the offering.

Cosponsors (2)

Josh Gottheimer (D-NJ)
Wiley Nickel (D-NC)

Subjects

Administrative law and regulatory procedures
Business investment and capital
Financial services and investments
Higher education
Marketing and advertising
Securities
Securities and Exchange Commission (SEC)
Social work, volunteer service, charitable organizations