H.R. 477Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017

1 recorded action150 of these members are on the 2026 ballotWhat the measure does Read on Congress.gov

Sponsor: Bill Huizenga [R-MI-02]
Cosponsors: 10 · 8 Republicans · 2 Democrats
Policy area: Finance and Financial Sector
Committees: Financial Services Committee, Banking, Housing, and Urban Affairs Committee
Latest action: Dec 11, 2017 · Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

IntroducedJan 12, 2017
Passed the HouseDec 7, 2017
Passed the SenateNot yet reached
Sent to the PresidentNot yet reached
Became lawNot yet reached

What the measure doesCRS summary

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017

(Sec. 2) This bill amends the Securities Exchange Act of 1934 to exempt from that Act's registration requirements merger-and-acquisition brokers that facilitate transfer of ownership in privately held companies with earnings or revenues under a specified threshold. This exemption shall not apply, however, to brokers that:

receive, hold, transmit, or have custody of funds or securities to be exchanged by parties to an ownership transfer;

engage on behalf of an issuer in a public offering of registered securities;
engage on behalf of any party in a transaction involving specified shell companies;
provide financing related to the transfer of ownership;
assist any party to obtain financing from a third party in specified circumstances;
represent both buyer and seller without disclosure and consent from both parties;
facilitate a transaction with a group of buyers formed with the assistance of the broker;
engage in transferring ownership to a passive buyer;
bind a party to a transfer of ownership; or
are subject to suspension or revocation of registration or to other specified disqualifications.

Written by the nonpartisan Congressional Research Service, describing H.R. 477 as passed House amended on Dec 7, 2017. It is not the text of the measure; a later amendment may have changed what it does.

How every member votedHouse roll call 669

House Dec 7, 2017

On Passage

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017

Passed

426 Yea 0 Nay 6 not voting

Crossed both parties No voting member broke with their own party.

Open the official roll call

How the chamber split

One dot per member. Select a seat or a bar to filter the list.

DemocratsRepublicansFilled: YeaRing: NayGrey: not voting or present

By party select a segment to filter

All members432 members

Democratic193 members

Republican239 members

marks half of the votes cast. A party’s majority is the side most of its voting members took.

Cosponsors10 · 8 Republicans · 2 Democrats

Signing on is not a vote: a member can cosponsor H.R. 477 and vote against it. 2 signed when it was filed.

Loading the public record

Who lobbied on H.R. 47713 organizations

Organizations that named H.R. 477 in a lobbying disclosure. Only those that cited the bill by number appear, so this is a floor, not a full list.

THE ALLIANCE OF MERGER & ACQUISITION ADVISORSfiled by U.S. GOVERNMENT RELATIONS INTL.

Banking9 filings · 4th Quarter (Oct 1 - Dec 31) 2018Filing

BA SECURITIES, LLCfiled by ADVANCED POLICY CONSULTING, LLC

Financial Institutions/Investments/Securities8 filings · 4th Quarter (Oct 1 - Dec 31) 2018Filing

BURCH & CO., INC.filed by ADVANCED POLICY CONSULTING, LLC

Financial Institutions/Investments/Securities8 filings · 4th Quarter (Oct 1 - Dec 31) 2018Filing

INDEPENDENT INVESTMENT BANKERS, CORP.filed by ADVANCED POLICY CONSULTING, LLC

Financial Institutions/Investments/Securities8 filings · 4th Quarter (Oct 1 - Dec 31) 2018Filing

M&A SECURITIES GROUP, INC.filed by ADVANCED POLICY CONSULTING, LLC

Financial Institutions/Investments/Securities8 filings · 4th Quarter (Oct 1 - Dec 31) 2018Filing

CHAMBER OF COMMERCE OF THE U.S.A.

Aviation/Airlines/Airports · Travel/Tourism · Trade (domestic/foreign) · Financial Institutions/Investments/Securities +38 more5 filings · 4th Quarter (Oct 1 - Dec 31) 2018Filing

THE NORTH AMERICAN SECURITIES ADMINISTRATORS ASSOCIATIONfiled by THE PENNSYLVANIA AVENUE GROUP

Financial Institutions/Investments/Securities5 filings · 4th Quarter (Oct 1 - Dec 31) 2018Filing

SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATIONIts PAC: Securities Industry & Financial Markets Association PAC

Financial Institutions/Investments/Securities · Banking · Commodities (big ticket) · Taxation/Internal Revenue Code +1 more4 filings · 4th Quarter (Oct 1 - Dec 31) 2017Filing

SMALL BUSINESS & ENTREPRENEURSHIP COUNCIL (SBE COUNCIL)

Small Business4 filings · 3rd Quarter (July 1 - Sep 30) 2018Filing

LEADERSHIP CONFERENCE ON CIVIL AND HUMAN RIGHTS

Financial Institutions/Investments/Securities · Medicare/Medicaid · Education · Labor Issues/Antitrust/Workplace +10 more2 filings · 1st Quarter (Jan 1 - Mar 31) 2018Filing

65 disclosures name this measure. Retrieved from LDA.gov on 2026-10-05. Senate Office of Public Records cannot vouch for the data or analyses derived from these data after the data have been retrieved from LDA.gov.