,i  #aag? ,,congress  #a/ ,session  ,h4 
,r4 #eiac  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,novemb] #i1 #bjba,mr4
 ,%]man introduc$ ! foll[+ bill2 :i* 0  
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,a ,,bill  ,to prohibit       
regi/]$ inve/m5t advis]s1 brok]s1 &     
regi/]$ repres5tatives ( brok]s f       
facilitat+ ! transaction ( or recomm5d+ 
! securities ( c]ta9 special purpose    
acquisition companies unless c]ta9      
disclosures are made1 & = o!r purposes4 
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,protect+ ,inve/ors f ,excessive      
,s,p,a,cs ,fees ,act ( #bjba4  #b4      
,prohibition relat+ to c]ta9 special    
purpose acquisition companies  7a7      
,inve/m5t advis]s ,section #bjf ( !     
,inve/m5t ,advis]s ,act ( #aidj 7#ae    
,u4,s4,c4 #hj;b-#f7 is am5d$-- 7#a7 9   
p>agraph 7#c71 by /rik+ or at ! end2    
7#b7 9 p>agraph 7#d71 by /rik+ ! p]iod  
at ! end & ins]t+ 2 or2 &  7#c7 by add+ 
at ! end ! foll[+3  7#e7 to facilitate !
 transaction (1 or recomm5d1 securities 

( a special purpose acquisition company1
 z def9$ by ! ,commission1 to a p]son :o
 is n an accr$it$ inve/or 7z def9$ 9    
section #b7;a7 ( ! ,securities ,act (   
#aicc 7#ae ,u4,s4,c4 #gg;b771 unless--  
7,a7 ! promote or simil> economic       
comp5sation ( ! special purpose         
acquisition company is #e p]c5t or less2
 or  7,b7 ! special purpose acquisition 
company makes su* disclosures to !      
,commission z ! ,commission1 by rule1   
may det]m9e to be necess>y or           
appropriate 9 ! public int]e/ or = !    
protection ( inve/ors4  4  7b7 ,brok]s &
 regi/]$ repres5tatives ( brok]s        
,section #ae ( ! ,securities ,ex*ange   
,act ( #aicd 7#ae ,u4,s4,c4 #gho7 is    
am5d$ by add+ at ! end ! foll[+3  7p7   
,prohibition relat+ to c]ta9 special    
purpose acquisition companies  7#a7 ,9  
g5]al ,a brok] & any regi/]$            
repres5tative ( a brok] %all be         
prohibit$ f facilitat+ ! transaction (1 
or recomm5d+1 securities ( a special    
purpose acquisition company1 z def9$ by 

! ,commission1 to a p]son :o is n an    
accr$it$ inve/or 7z def9$ 9 section     
#b7;a7 ( ! ,securities ,act ( #aicc 7#ae
 ,u4,s4,c4 #gg;b771 unless-- 7,a7 !     
promote or simil> economic comp5sation (
 ! special purpose acquisition company  
is #e p]c5t or less2 or  7,b7 ! special 
purpose acquisition company makes su*   
disclosures to ! ,commission z !        
,commission1 by rule1 may det]m9e to be 
necess>y or appropriate 9 ! public      
int]e/ or = ! protection ( inve/ors4    
7#b7 ,regi/]$ repres5tative ( a brok]   
def9$ ,9 ?is subsection1 ) respect to a 
brok]1 ! t]m regi/]$ repres5tative ( a  
brok] means an individual :o repres5ts !
 brok] 9 effect+ or attempt+ to effect a
 pur*ase or sale ( securities4  4