A bill to amend the Securities Act of 1933 to expand the ability to use testing the waters and confidential draft registration submissions, and for other purposes.
About This Bill
Committee
Latest Action · February 25, 2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Encouraging Public Offerings Act of 2019
This bill allows an issuer of securities to communicate with potential investors to ascertain interest in a contemplated securities offering, either before or after the filing of a registration statement (i.e., "test the waters"). Under current law, only emerging growth companies may engage in such communications.
The bill also allows an issuer to submit a confidential draft registration statement to the Securities and Exchange Commission for review prior to public filing or within one year after the initial public offering or registration.
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