I 115th CONGRESS 2d Session H. R. 5999 IN THE HOUSE OF REPRESENTATIVES June 5, 2018 Mr. Budd introduced the following bill; which was referred to the Committee on Financial Services A BILL To direct the Securities and Exchange Commission to revise section 230.163 of title 17, United States Code, to apply the exemption offered in such section to communications made by underwriters and dealers acting by or on behalf of a well-known seasoned issuer.

1. Short title This Act may be cited as the Streamlining Communications for Investors Act . 2. Exemption of communications made by underwriters and dealers acting by or on behalf of well-known seasoned issuer (a) In general Not later than 120 days after the date of the enactment of this section, the Securities and Exchange Commission shall revise section 230.163(c) of title 17, United States Code, to apply the exemption offered in section 230.163 of title 17, United States Code, to written and oral communications made by an underwriter or dealer acting by or on behalf of a well-known seasoned issuer if, before such a communication is made— (1) the underwriter or dealer making such communication receives written authorization from the well-known seasoned issuer to act as its agent or representative; and (2) the well-known seasoned issuer authorized or approved such communication. (b) Inclusion in prospectus A well-known seasoned issuer shall identify in the prospectus filed for an offering each underwriter or dealer that has made oral or written communications related the offering in reliance on the exemption under section 230.163 of title 17, United States Code.