US HR910

Bill

Fair Access to Investment Research Act of 2017

Introduced
02/07/2017

In Committee
03/09/2017

Crossed Over
05/02/2017

Passed

Dead
12/31/2018

Introduced Session

115th Congress

Bill Summary

Fair Access to Investment Research Act of 2017 (Sec. 2) This bill directs the Securities and Exchange Commission (SEC) to establish and implement a "safe harbor" for certain investment fund research reports published by brokers and dealers. Such reports shall be deemed not to be "offers" under specified provisions of securities law, even if the broker or dealer participates in the registered offering of the investment fund's securities. In implementing the safe harbor, the SEC must prohibit a self-regulatory organization from maintaining or enforcing a rule that would prevent a member from: (1) publishing or distributing a covered investment fund research report solely because the member is also participating in a registered offering of the fund, or (2) participating in a registered offering of a covered investment fund solely because the member has published a research report about the fund. The bill restricts the SEC from conditioning the safe harbor upon specified requirements.

AI Summary

This bill directs the Securities and Exchange Commission (SEC) to establish a "safe harbor" for certain investment fund research reports published by brokers and dealers. This means that such reports would be deemed not to constitute an "offer" under securities law, even if the broker or dealer is participating in a registered offering of the investment fund's securities. The SEC is prohibited from conditioning the safe harbor on certain requirements, and is required to prohibit self-regulatory organizations from maintaining rules that would prevent a member from publishing a research report or participating in an offering solely because of the other activity. The bill also provides for interim effectiveness of the safe harbor and definitions of key terms like "covered investment fund research report" and "covered investment fund."

Committee Categories

Business and Industry, Housing and Urban Affairs

Sponsors (7)

French Hill (R)*, Lisa Blunt Rochester (D), Bill Foster (D), Josh Gottheimer (D), Trey Hollingsworth (R), Luke Messer (R), Brad Sherman (D),

Last Action

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 05/02/2017)

Official Document

https://www.congress.gov/bill/115th-congress/house-bill/910/all-info

(5 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/115th-congress/house-bill/910/all-info
BillText	https://www.congress.gov/115/bills/hr910/BILLS-115hr910eh.pdf
Bill	https://www.congress.gov/115/bills/hr910/BILLS-115hr910eh.pdf.pdf
BillText	https://www.congress.gov/115/bills/hr910/BILLS-115hr910rh.pdf
Bill	https://www.congress.gov/115/bills/hr910/BILLS-115hr910rh.pdf.pdf
BillText	https://www.congress.gov/115/bills/hr910/BILLS-115hr910ih.pdf
Bill	https://www.congress.gov/115/bills/hr910/BILLS-115hr910ih.pdf.pdf

Bill	Bill Name	Last Action	Type
HR10	Financial CHOICE Act of 2017	Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-108.	Related
HR3280	Financial Services and General Government Appropriations Act, 2018	Committee on Appropriations Senate Subcommittee on Financial Services and General Government. Hearings held on the subject prior to measure being received from the House. Hearings printed: S. Hrg. 115-191.	Related
HR3354	Interior and Environment, Agriculture and Rural Development, Commerce, Justice, Science, Financial Services and General Government, Homeland Security, Labor, Health and Human Services, Education, State and Foreign Operations, Transportation, Housing and Urban Development, Defense, Military Construction and Veterans Affairs, Legislative Branch, and Energy and Water Development Appropriations Act, 2018 Make America Secure and Prosperous Appropriations Act, 2018	Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 230.	Related
HRes375	Providing for consideration of the bill (H.B. 10) to create hope and opportunity for investors, consumers, and entrepreneurs by ending bailouts and Too Big to Fail, holding Washington and Wall Street accountable, eliminating red tape to increase access to capital and credit, and repealing the provisions of the Dodd-Frank Act that make America less prosperous, less stable, and less free, and for other purposes.	Motion to reconsider laid on the table Agreed to without objection.	Similar To
S327	Fair Access to Investment Research Act of 2017	Became Public Law No: 115-66. (TXT \| PDF)	Same As

Bill > HR910

US HR910

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (7)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary