Roger Williams R

Securities Research Modernization ActThis bill allows a securities broker or dealer to publish or distribute a research report on a proposed public offering by any issuer without it being considered an offer to sell securities for purposes of registration requirements. Currently, only reports published or distributed regarding a proposed public offering by an emerging growth company fall under this exception.

This bill reauthorizes through FY2026 the Small Business Innovation Research (SBIR) program, the Small Business Technology Transfer (STTR) program, and related pilot programs.The SBIR and STTR programs are administered by various federal agencies and provide competitive awards for domestic small businesses to conduct research and development projects that have the potential for commercialization.

Merchant Banking Modernization ActThis bill requires financial holding companies to be allowed to hold merchant banking investments for a minimum of 15 years.Currently, financial holding companies are generally prohibited from holding interests in nonfinancial companies, however, there are statutory exemptions for merchant banking activities—financial services for private commercial entities. As a result of these financial services, the financial holding company may …

Main Street Parity ActThis bill lessens the financing requirements for certain Small Business Administration loans to small businesses for plant acquisition, construction, conversion, or expansion, including the acquisition of land. Specifically, the bill reduces the amount of equity a borrower must provide by 5% of the total cost for loans for limited or single-purpose properties.