Section 1 Short title
This Act may be cited as the “More Accurate Metrics in Securities Law Act”.
More Accurate Metrics in Securities Law Act
A BILL
To amend the Securities Exchange Act of 1934 with respect to certain security registration thresholds, and for other purposes.
Sec. 2 Security registration thresholds
In general— Section 12(g)(1)(A) of the Securities Exchange Act of 1934 (15 U.S.C. 78l(g)(1)(A)) is amended to read as follows:
“(A) within 120 days after the last day of its first fiscal year ended on which the issuer has—
“(i) total assets exceeding $15,000,000; and
“(ii) either—
“(I) a class of equity security (other than an exempted security) held of record by greater than a number of beneficial owners determined by the Commission by rule; or
“(II) market capitalization exceeding an amount determined by the Commission by rule, and”
Effective date— The amendment made by subsection (a) shall take effect on the date that is 180 days after the date of the enactment of this Act.