H.R. 3903 · 115th Congress
Encouraging Public Offerings Act of 2017
- Stage
- Passed a chamber
- Sponsor
- Ted Budd
- Introduced
- 2017-10-02
- Latest action
- 2017-11-02 · Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Summary
Encouraging Public Offerings Act of 2017
(Sec. 2) This bill amends the Securities Act of 1933 to allow an issuer of securities to communicate with potential investors to ascertain interest in a contemplated securities offering, either before or after the filing of a registration statement (i.e., "test the waters"). Under current law, only emerging growth companies may engage in such communications.
The bill also allows an issuer to submit a confidential draft registration statement to the Securities and Exchange Commission for review prior to public filing or within one year after the initial public offering or registration.