Bill > HR3672

This bill seeks to modify the Securities Act of 1933 by expanding the existing research report exception, which currently applies only to emerging growth companies, to now cover research reports about any issuer that is undertaking a proposed public securities offering. Specifically, the bill amends Section 2(a)(3) of the Act by replacing the term "emerging growth company" with "issuer", replacing "the common equity" with "any", and replacing "such emerging growth company" with "such issuer". In practical terms, this change would broaden the scope of research reports that can be published about a company during a securities offering, potentially making more information available to investors and reducing restrictions on financial research. The modification aims to modernize securities research regulations by providing more flexibility for analysts and researchers in reporting on potential public offerings across a wider range of companies, not just those classified as emerging growth companies.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/3672/all-info