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Unlocking Capital for Small Businesses Act

The Act amends the Securities Exchange Act of 1934 to create a safe harbor for private placement brokers and finders. It exempts finders from registration requirements subject to specific compensation and transaction limits, and prohibits states from enforcing stricter registration or reporting requirements on these entities than those required under federal law.
Key points
Establishment of safe harbors for private placement brokers and finders.
Exemption of finders from federal registration requirements, provided they stay within specific financial thresholds.
Introduction of disclosure requirements regarding compensation and conflicts of interest for private placement brokers.
Prohibition on states imposing registration or reporting requirements stricter than federal regulations.
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Expired
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Additional Information
Print number: 117_S_3922
Sponsor: Sen. Cramer, Kevin [R-ND]
Process start date: 2022-03-24
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Summarized by: gemini-3-pro-preview
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Unlocking Capital for Small Businesses Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_3922.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-03-24.

What are the main provisions?

Key points include:

  • Establishment of safe harbors for private placement brokers and finders.
  • Exemption of finders from federal registration requirements, provided they stay within specific financial thresholds.
  • Introduction of disclosure requirements regarding compensation and conflicts of interest for private placement brokers.
  • Prohibition on states imposing registration or reporting requirements stricter than federal regulations.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Cramer, Kevin [R-ND].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Economy