HALOS Act of 2025

This bill clarifies rules for early-stage startup fundraising by updating SEC regulations. It requires the SEC to amend Regulation D to allow certain events - like those hosted by universities, angel investor groups, or incubators - to be held without violating "general solicitation" rules, provided specific conditions are met. Key conditions include no specific securities offering details being shared (only general terms), sponsors not giving investment advice or charging fees for introductions, and mandatory risk disclosures for attendees. The bill ensures attending such events doesn’t create a "pre-existing relationship" between startups and investors under current SEC rules, directly affecting startups seeking funding and angel investor groups hosting events.