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Bill114th CongressFiled May 15, 2015Finance and Financial Sector
H.R. 2356

Fair Access to Investment Research Act of 2015

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary reported to house without amendment (Jan 28, 2016)

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Fair Access to Investment Research Act of 2015

(Sec. 2) This bill directs the Securities and Exchange Commission (SEC) to revise a specified regulation to create a safe harbor for certain publications or distributions of research reports by brokers or dealers distributing securities.

The revised regulation shall declare that, even if a broker or dealer participates in the registered offering of a covered investment fund's securities, the investment fund research report shall not be deemed to constitute an offer for sale nor an offer to sell a security that is the subject of the offering pursuant to a registration statement that the issuer proposes to file, or has filed, or that is effective.

The covered investment fund research report shall indeed be deemed to satisfy the regulation's requirements as well as those of any self-regulatory organization.

The SEC shall not impose specified conditions and requirements when implementing the safe harbor.

What just happenedJan 28, 2016

Placed on the Union Calendar, Calendar No. 304.

Who’s behind it

Rep. Hill, J. French [R-AR-2](R-AR)Sponsor
1 cosponsor1 D
Read on Congress.gov
1cosponsors1committees9actions2related bills4subjects
  1. Jan 28, 2016CalendarsH12410

    Placed on the Union Calendar, Calendar No. 304.

  2. Jan 28, 2016CommitteeH12200

    Reported by the Committee on Financial Services. H. Rept. 114-401.

    Financial Services Committee
  3. Jan 28, 2016Committee5000

    Reported by the Committee on Financial Services. H. Rept. 114-401.

    Financial Services Committee
  4. May 20, 2015Committee

    Ordered to be Reported by the Yeas and Nays: 48 - 9.

    Financial Services Committee
  5. May 20, 2015Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  6. May 15, 2015IntroReferralH11100

    Referred to the House Committee on Financial Services.

    Financial Services Committee
  7. May 15, 2015IntroReferralIntro-H

    Introduced in House

  8. May 15, 2015IntroReferral1000

    Introduced in House

  9. May 13, 2015Committee

    Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.

    Capital Markets Subcommittee
Reported to House without amendmentJan 28, 201679

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Fair Access to Investment Research Act of 2015

(Sec. 2) This bill directs the Securities and Exchange Commission (SEC) to revise a specified regulation to create a safe harbor for certain publications or distributions of research reports by brokers or dealers distributing securities.

The revised regulation shall declare that, even if a broker or dealer participates in the registered offering of a covered investment fund's securities, the investment fund research report shall not be deemed to constitute an offer for sale nor an offer to sell a security that is the subject of the offering pursuant to a registration statement that the issuer proposes to file, or has filed, or that is effective.

The covered investment fund research report shall indeed be deemed to satisfy the regulation's requirements as well as those of any self-regulatory organization.

The SEC shall not impose specified conditions and requirements when implementing the safe harbor.

Introduced in HouseMay 15, 2015

Fair Access to Investment Research Act of 2015

This bill directs the Securities and Exchange Commission (SEC) to revise a specified regulation to create a safe harbor for certain publications or distributions of research reports by brokers or dealers distributing securities.

The revised regulation shall declare that, even if a broker or dealer participates in the registered offering of a covered investment fund's securities, the investment fund research report shall not be deemed to constitute an offer for sale nor an offer to sell a security that is the subject of the offering pursuant to a registration statement that the issuer proposes to file, or has filed, or that is effective.

The covered investment fund research report shall indeed be deemed to satisfy the regulation's requirements as well as those of any self-regulatory organization.

The SEC is prohibited from imposing specified conditions and requirements when implementing the safe harbor.

Fair Access to Investment Research Act of 2015 — Informed