Heller Continues Commitment to Nevada’s Small Businesses, Investors, and Taxpayers Three pieces of bipartisan legislation led by U.S. Senator Dean Heller (R-NV) moved through the Senate Banking Committee en route to the Senate floor for consideration.
PoliticalNews.me - Mar 11,2017 - Heller Continues Commitment to Nevada’s Small Businesses, Investors, and Taxpayers
(Washington, DC) – Three pieces of bipartisan legislation led by U.S. Senator Dean Heller (R-NV) moved through the Senate Banking Committee en route to the Senate floor for consideration. These three bills are designed to help Nevada’s small businesses, provide investors with more information, as well as hold the federal government accountable.
“Whether you are an entrepreneur, an investor trying to make informed financial decisions, or a taxpayer rightfully demanding accountability from the federal government, these bipartisan pieces of legislation are a step forward. Once again, we can bring people together behind common-sense legislation that helps small businesses have access to capital and for investors to have access to research. I am proud to have worked with several members from across the aisle on these important issues and I look forward to seeing action on the Senate floor,” said U.S. Senator Dean Heller.
Heller-Peters bill S. 327, Fair Access to Investment Research Act of 2017
Background: Currently, securities laws provide legal protections for broker-dealers to provide research reports for several asset classes such as listed stocks and corporate debt — but not for Exchange Traded Funds (ETFs). The Fair Access to Investment Research Act would create parity in the law by allowing broker-dealers to publish public research reports on ETFs, which millions of households invest in.
Heitkamp-Heller bill S. 444, Supporting America’s Innovators Act of 2017
Background: Currently, the U.S. Securities and Exchange Commission’s (SEC) has a limit of 100 accredited investors before a fund is required to spend the time and money registering with the agency. Supporting America’s Innovators Act seeks to raise the ceiling of accredited investors’ venture capital funds can acquire from 100 to 250 before SEC registration is required. The expansion of investors for venture capital-type funds would help provide greater access to capital for American small businesses, and will allow more accredited investors to participate in venture investments in small businesses.
Heller-Heitkamp-Donnelly-Toomey bill S. 462, Securities and Exchange Commission Overpayment Credit Act
Background: Currently, the Securities and Exchange Commission (SEC) must collect fees from national securities exchanges and other self-regulatory organizations (SROs) for the cost of supervising and regulating transactions. The SEC often receives overpayments from national security exchanges and SROs in order to avoid possible underpayment. Over the last several years, the SEC has accumulated several millions in overpayment fees from national securities exchanges and SROs. The Securities and Exchange Commission Overpayment Credit Act resolves this problem by allowing the SEC to provide credit to national securities exchanges and SROs that have overpaid fees and assessment balances by offsetting future payment requirements.