EB-5 Integrity Bill Suggested Revisions

August 16, 2016

The EB-5 Securities Roundtable has released comments on the provisions of the pending legislation SB-1501 commonly known as the Integrity Bill. One of the main goals of the group is to inform lawmakers that proposed integrity provisions must correlate with U.S. securities laws.

 

Authorization of the current program ends on September 30, 2016.  The EB-5 Securities Roundtable proposes that integrity provisions of the proposed legislation should:   

  • Further the goals of improving integrity and accountability in the EB-5 program

  • Accurately reflect the roles of various participants in an EB-5 securities offering

  • Conform to recognized principles of U.S. securities law and regulations

  • Enable these provisions to work harmoniously for their intended purposes throughout the typical EB-5 offering process

  • Define various terms used in the legislation to be consistent with U.S. securities laws and regulations, USCIS regulations and common EB-5 industry practice

  • Enable compliance by regional centers by clarifying their obligations in connection with EB-5 offerings they sponsor

  • Where appropriate, import proven securities regulatory mechanisms to achieve the intended purposes of integrity provisions

 

Download the Integrity Bill Redlines

 

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