S. 4857IntroducedFINANCE AND FINANCIAL SECTOR
Private Markets Transparency and Accountability Act
Business records · Corporate finance and management · Securities
Key facts
Introduced: Sep 15, 2022
Chamber: Senate
Cosponsors: 2
Congress: 117th
Latest action · Dec 14, 2022
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-757.
Summary
Private Markets Transparency and Accountability Act
This bill requires certain private companies to register with the Securities and Exchange Commission (SEC) and thereby publicly disclose business practices and financial information.
Under current law, companies with assets exceeding $10 million and with a class of securities held by either 2,000 persons, or 500 persons who are not accredited investors, must register with the SEC. In addition, the bill requires companies to register if (1) their valuation exceeds $700 million, or (2) their annual revenue exceeds $5 billion and they have at least 5,000 employees.
Summary by Congressional Research Service.
Timeline
- Dec 14, 2022Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-757.
- Sep 15, 2022Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S4640-4641)
- Sep 15, 2022Introduced in Senate
Cosponsors
In the News
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