H.R. 2799 would require the Securities and Exchange Commission (SEC) to issue rules that decrease reporting and registration requirements for companies, brokers, and advisors and increase investment opportunities for individuals. For example, the bill would change the definition of emerging growth company to include businesses with annual gross revenues below $1.5 billion in the prior year. Under current law, the SEC allows those companies to issue less extensive disclosures than it requires from larger companies. The bill also would exempt companies that sell less than $250,000 in securities in a year from registering those transactions with the SEC and allow more people to purchase securities that are exempt from registration requirements.
