Expanding WKSI Eligibility Act

This bill changes who counts as a "well-known seasoned issuer" under federal securities laws. A company would qualify if the market value of its common stock held by people outside the company is $400 million or more and it meets the other existing requirements in federal regulations. The existing minimum market value requirement in the regulation would no longer apply. The Securities and Exchange Commission would also have to publish, within 90 days after each year ends, the number of applications filed that year seeking a determination that a company is not an ineligible issuer, made to qualify for this status, that were later withdrawn.

Full text and official record on Congress.gov

Sponsors

• David McCormick Republican sponsor
• 1 cosponsors