119th Congress Finance and Financial Sector
H.R. 3352: HALOS Act of 2025
Passed House
- Introduced (completed)
- Passed House (completed)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill directs the Securities and Exchange Commission (SEC) to exempt presentations and communications (e.g., product demonstrations) made at certain events from advertising and solicitation restrictions under Regulation D. (Regulation D exempts certain securities offerings from SEC registration requirements but prohibits general solicitation or general advertising with respect to such offerings.)
Under the bill, this prohibition does not apply to events where presentations or communications are made by or on behalf of an issuer, if
- the advertising does not refer to any specific offering of securities by the issuer;
- the event sponsor does not provide investment recommendations or advice to attendees, engage in investment negotiations with attendees, charge certain fees, or receive certain compensation; and
- no specific information regarding a securities offering is communicated beyond the type and amount of securities being offered, the unsubscribed amount, and the intended use of proceeds from the offering.
Read the full summary
Exempt events must involve participation by more than one issuer and must be sponsored by specified entity types, including angel investor groups unconnected to broker dealers or investment advisors. Such events generally may not be held in facilities owned or operated by a religious organization. If such an event is virtual, online participation must be limited to investors associated with the sponsor organization, accredited investors, or individuals invited to the event based on industry or investment experience.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Josh Gottheimer D-NJOriginal
- Maria Salazar R-FL
Who scored on this bill
- 1Michael Lawler SponsorDrew cross-party cosponsors, introduced, marked up, reported, passed House5 events+68
- 2Josh GottheimerCosponsored; cosponsored bill passed2 events+4
- 2Maria SalazarCosponsored; cosponsored bill passed2 events+4
See all scorers and every scoring event
Introductions and cosponsorships count toward weekly caps and show no points.
Other bills by Michael Lawler
- H.R. 9086: Foreign Service Modernization Act
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- H.R. 1009: Paul Piperato Post Office Building (Haverstraw, NY)
- H.R. 9436: Northeast Lobsterman Protection Act of 2026
- H.R. 8141: Fair Credit Reporting Reseller Accuracy Act
- H.R. 6453: ADA 30 Days to Comply Act
History
- Passed the House by voice vote.
- Introduced in the House by Michael Lawler.
Show the full action history (13 actions)
- Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
- Considered under suspension of the rules. (consideration: CR H2866-2868)
- DEBATE - The House proceeded with forty minutes of debate on H.R. 3352.
- Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (consideration: CR H2866-2867)
- On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (consideration: CR H2866-2867)
- Motion to reconsider laid on the table Agreed to without objection.
- Reported (Amended) by the Committee on Financial Services. H. Rept. 119-123.
- Placed on the Union Calendar, Calendar No. 93.
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 1.
- Introduced in House
- Referred to the House Committee on Financial Services.