Fair Access to Investment Research Act of 2015

Bill: 114-hr-2356
Sponsor: Rep. Hill, J. French [R-AR-2]
Introduced: 2015-05-15 in the House
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures
Financial services and investments
Securities
Securities and Exchange Commission (SEC)

Summary:
action_date: 2015-05-15
text: 

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.

action_date: 2016-01-28
text: 
(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.


Legislative actions:
action_date: 2016-01-28
text: Placed on the Union Calendar, Calendar No. 304.
action_date: 2016-01-28
text: Reported by the Committee on Financial Services. H. Rept. 114-401.
action_date: 2016-01-28
text: Reported by the Committee on Financial Services. H. Rept. 114-401.
action_date: 2015-05-20
text: Ordered to be Reported by the Yeas and Nays: 48 - 9.
action_date: 2015-05-20
text: Committee Consideration and Mark-up Session Held.
action_date: 2015-05-15
text: Referred to the House Committee on Financial Services.
action_date: 2015-05-15
text: Introduced in House
action_date: 2015-05-15
text: Introduced in House
action_date: 2015-05-13
text: Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.