There is one summary for H.R.477. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (01/12/2017)

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

This bill amends the Securities Exchange Act of 1934 to generally exempt certain merger-and-acquisition brokers from that Act's registration requirements. This exemption shall not apply, however, to brokers that: (1) receive, hold, transmit, or have custody of funds or securities to be exchanged by parties to an ownership transfer of a privately held company that meets specified conditions; (2) engage on behalf of an issuer in a public offering of registered securities; (3) engage on behalf of any party in a transaction involving a public shell company; or (4) are subject to suspension or revocation of registration or to other specified disqualifications.