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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
      senate Committees
      Senate Committee on Banking, Housing, and Urban Affairs
  • The house Passed December 4th, 2013
    Roll Call Vote 254 Yea / 159 Nay
      house Committees
      House Committee on Financial Services
      Capital Markets and Government Sponsored Enterprises
    IntroducedMarch 13th, 2013

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Bill Details

Official information provided by the Congressional Research Service. Learn more or make a suggestion.
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Title

Small Business Capital Access and Job Preservation Act

Official Title

To amend the Investment Advisers Act of 1940 to provide a registration exemption for private equity fund advisers, and for other purposes.

Summary

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.

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