H.R. 5877: Main Street Growth Act

115th Congress

To amend the Securities Exchange Act of 1934 to allow for the registration of venture exchanges, and for other purposes.

Sponsor: Rep. Tom Emmer — R — MN

Under current law, the Securities and Exchange Commission (SEC) registers and approves marketplaces for trading securities (known as national securities exchanges) and regulates aspects of their operation. H.R. 5877 would allow current national securities exchanges to register a venture exchange for trading stocks of certain small companies. Under the legislation, any newly formed exchanges could elect to operate as venture exchanges at the time they register with the SEC. The SEC would be required to issue regulations regarding the information that must to be disclosed to venture securities issuers and investors. Finally, H.R. 4638 would authorize the SEC to create an Office of Venture Exchanges.

View the full vote history of this bill on GovTrack.us.