HB1553: HALOS Act of 2023 Helping Angels Lead Our Startups Act of 2023
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To require the Securities and Exchange Commission to revise rules relating to general solicitation or general advertising to allow for presentations or other communication made by or on behalf of an issuer at certain events, and for other purposes.
Plain-language summary
The HALOS Act of 2023 directs the Securities and Exchange Commission (the agency that regulates financial markets and investments) to change its rules about how companies can publicly talk about investment opportunities. Specifically, it would allow companies to make presentations or communicate about their business at certain events without those communications being considered illegal 'general solicitation' (broadly advertising to the public to invest). The bill affects startups and angel investors (wealthy individuals who invest in early-stage companies). The bill is currently in the early stage after being introduced in Congress.
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HB1553: HALOS Act of 2023 Helping Angels Lead Our Startups Act of 2023