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Protecting Investors from Excessive SPACs Fees Act of 2021
Legislative Progress
Momentum (last 30 days)
0
score
0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
65pct
7d open
vs 9,698 other HR bills in the 117th — cohort avg 63d
Protecting Investors from Excessive SPACs Fees Act of 2021 This bill limits the transaction or recommendation by registered investment advisers to specified investors of securities belonging to certain special purpose acquisition companies and brokers. Special purpose acquisition companies raise capital through initial public offerings with the intent to acquire other companies. Specifically, these securities may not be recommended to a person who is not an accredited investor unless the related economic compensation is 5% or less or the company makes necessary disclosures to the Securities and Exchange Commission for the protection of investors. An accredited investor must satisfy certain requirements indicating their reduced exposure to financial risk, including those related to income, net worth, or knowledge and experience.
These links require the bill number to appear in the filing's source-reported specific issue text. Client expenses and lobbying-firm income are separate disclosure fields.
Filing registrants (3)
2022 · fourth_quarter · Financial Institutions/Investments/Securities
S.570, American Financial Markets Integrity and Security Act; Issues related to small business capital formation; Issues related to equity market structure and corporate disclosures; Issues related to fixed income market structure, disclosure and compliance; SEC Rule 15c2-11; Issues related to stock market gamification; Issues related to proxy voting processes; FINRA Rule 4210; H.R. 6285, the Accelerating Holding Foreign Companies Accountable Act; Issues relating to environmental, social and governance ESG investing; H.R. 5913, the Protecting Investors for Excessive SPAC Fees Act; H.R. 2620/S. 1171, the Investor Choice Act; H.R. 5910, the Holding SPACs Accountable Act; Issues related to corporate disclosure; Issues related to SEC rule proposal process; FINRA Rule 3110 relating to remote inspections; Issues related to fixed income transaction reporting time (MSRB Rule G-14, FINRA Rule 6730).
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 29 - 23.
Committee Consideration and Mark-up Session Held.
Referred to the House Committee on Financial Services.
Introduced in House
Congress.gov source codes: 1000, Intro-H
Bills with similar content found using semantic analysis.
Sources: Congress.gov
Client expense: $100,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2022 · third_quarter · Financial Institutions/Investments/Securities
S.570, American Financial Markets Integrity and Security Act; Issues related to small business capital formation; Issues related to equity market structure and corporate disclosures; Issues related to fixed income market structure, disclosure and compliance; SEC Rule 15c2-11; Issues related to stock market gamification; Issues related to proxy voting processes; FINRA Rule 4210; H.R. 6285, the Accelerating Holding Foreign Companies Accountable Act; Issues relating to environmental, social and governance ESG investing; H.R. 5913, the Protecting Investors for Excessive SPAC Fees Act; H.R. 2620/S. 1171, the Investor Choice Act; H.R. 5910, the Holding SPACs Accountable Act; Issues related to corporate disclosure; Issues related to SEC rule proposal process; FINRA Rule 3110 relating to remote inspections; Issues related to fixed income transaction reporting time (MSRB Rule G-14, FINRA Rule 6730).
Client expense: $100,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2022 · second_quarter · Financial Institutions/Investments/Securities
H.R. 5910, the Holding SPACs Accountable Act of 2021, sponsored by Rep. Michael San Nicolas (D-GU), and H.R. 5913, the Protecting Investors from Excessive SPACs Fees Act of 2021, sponsored by Rep. Brad Sherman (D-CA), SEC rulemaking on regulating SPACs
Client expense: Not reported · Firm income: $15,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC)
2022 · second_quarter · Financial Institutions/Investments/Securities
S.570, American Financial Markets Integrity and Security Act; Issues related to small business capital formation; Issues related to equity market structure and corporate disclosures; Issues related to fixed income market structure, disclosure and compliance; SEC Rule 15c2-11; Issues related to stock market gamification; Issues related to proxy voting processes; FINRA Rule 4210; H.R. 6285, the Accelerating Holding Foreign Companies Accountable Act; Issues relating to environmental, social and governance ESG investing; H.R. 5913, the Protecting Investors for Excessive SPAC Fees Act; H.R. 2620/S. 1171, the Investor Choice Act; H.R. 5910, the Holding SPACs Accountable Act; Issues related to corporate disclosure; Issues related to SEC rule proposal process.
Client expense: $60,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2022 · first_quarter · Financial Institutions/Investments/Securities
H.R. 5910, the Holding SPACs Accountable Act of 2021, sponsored by Rep. Michael San Nicolas (D-GU), and H.R. 5913, the Protecting Investors from Excessive SPACs Fees Act of 2021, sponsored by Rep. Brad Sherman (D-CA), SEC rulemaking on regulating SPACs
Client expense: Not reported · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC)
2022 · first_quarter · Financial Institutions/Investments/Securities
S.570, American Financial Markets Integrity and Security Act; Issues related to small business capital formation; Issues related to equity market structure and corporate disclosures; Issues related to fixed income market structure, disclosure and compliance; SEC Rule 15c2-11; Issues related to stock market gamification; Issues related to proxy voting processes; FINRA Rule 4210; H.R. 6285, the Accelerating Holding Foreign Companies Accountable Act; Issues relating to environmental, social and governance ESG investing; H.R. 5913, the Protecting Investors for Excessive SPAC Fees Act; H.R. 2620/S. 1171, the Investor Choice Act; H.R. 5910, the Holding SPACs Accountable Act; Issues related to corporate disclosure; Issues related to SEC rule proposal process.
Client expense: $60,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2021 · fourth_quarter · Financial Institutions/Investments/Securities
H.R. 5910, the Holding SPACs Accountable Act of 2021, sponsored by Rep. Michael San Nicolas (D-GU), and H.R. 5913, the Protecting Investors from Excessive SPACs Fees Act of 2021, sponsored by Rep. Brad Sherman (D-CA)
Client expense: Not reported · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2021 · fourth_quarter · Financial Institutions/Investments/Securities
H.R.5913 - Protecting Investors from Excessive SPACs Fees Act of 2021
Client expense: Not reported · Firm income: $20,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2021 · fourth_quarter · Financial Institutions/Investments/Securities
S.570, American Financial Markets Integrity and Security Act; Issues related to small business capital formation; Issues related to equity market structure and corporate disclosures; Issues related to fixed income market structure, disclosure and compliance; SEC Rule 15c2-11; Issues related to stock market gamification; Issues related to proxy voting processes; FINRA Rule 4210; H.R. 6285, the Accelerating Holding Foreign Companies Accountable Act; Issues relating to environmental, social and governance ESG investing; H.R. 5913, the Protecting Investors for Excessive SPAC Fees Act; H.R. 2620/S. 1171, the Investor Choice Act; H.R. 5910, the Holding SPACs Accountable Act.
Client expense: $60,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of