- Not enactedThe President has not signed this bill
- The senate has not voted
Committee on Banking, Housing, and Urban Affairs
- senate Committees
- The house Passed December 4th, 2013Roll Call Vote 254 Yea / 159 Nay
Committee on Financial ServicesIntroducedMarch 13th, 2013
- house Committees
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Small Business Capital Access and Job Preservation Act
To amend the Investment Advisers Act of 1940 to provide a registration exemption for private equity fund advisers, and for other purposes.
Small Business Capital Access and Job Preservation Act - Amends the Investment Advisers Act of 1940 to exempt private equity fund investment advisers from its registration and reporting requirements, provided that each private equity fund has not borrowed and does not have outstanding a principal amount exceeding twice its invested capital commitments. Directs the Securities and Exchange Commission (SEC) to promulgate final rules that: (1) require such investment advisers to maintain records the SEC determines necessary, taking into account fund size, governance, investment strategy, and risk; and (2) define the term "private equity fund" for purposes of this Act.