US HB5019 | 2015-2016 | 114th Congress
Status
Spectrum: Bipartisan Bill
Status: Engrossed on May 9 2016 - 50% progression, died in committee
Action: 2016-05-09 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Engrossed) [PDF]
Status: Engrossed on May 9 2016 - 50% progression, died in committee
Action: 2016-05-09 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Engrossed) [PDF]
Summary
Fair Access to Investment Research Act of 2016 (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 a published or distributed investment fund research report shall not be deemed to constitute an offer for sale or an offer to sell a security that is the subject of the offering pursuant to an effective registration statement, even if the broker or dealer is participating or will participate in the registered offering of the covered investment fund's securities. 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. Until the SEC has adopted such safe harbor revisions, and the Financial Industry Regulatory Authority (FINRA) has revised a related rule, a covered investment fund shall be deemed to be a security listed on a national securities exchange that is not subject to a certain filing requirement of the Investment Company Act of 1940.
Title
Fair Access to Investment Research Act of 2016
Sponsors
Rep. French Hill [R-AR] | Rep. John Carney [D-DE] |
Roll Calls
2016-04-28 - House - On Motion to Suspend the Rules and Pass (Y: 411 N: 6 NV: 16 Abs: 0) [PASS]
History
Date | Chamber | Action |
---|---|---|
2016-05-09 | Senate | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
2016-04-28 | House | Motion to reconsider laid on the table Agreed to without objection. |
2016-04-28 | House | On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 411 - 6 (Roll no. 175). (text: CR 4/26/2016 H1950) |
2016-04-28 | House | Considered as unfinished business. (consideration: CR H2081) |
2016-04-26 | House | At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed. |
2016-04-26 | House | DEBATE - The House proceeded with forty minutes of debate on H.R. 5019. |
2016-04-26 | House | Considered under suspension of the rules. (consideration: CR H1950-1952) |
2016-04-26 | House | Mr. Garrett moved to suspend the rules and pass the bill. |
2016-04-21 | House | Referred to the House Committee on Financial Services. |
2016-04-21 | House | Introduced in House |
Same As/Similar To
HB1675 (Related) 2016-02-04 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Subjects
Administrative law and regulatory procedures
Finance and financial sector
Financial services and investments
Securities
Securities and Exchange Commission (SEC)
Finance and financial sector
Financial services and investments
Securities
Securities and Exchange Commission (SEC)