HR-910 : Still Just a Bill

Fair Access to Investment Research Act of 2017

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.

Action Timeline

Action DateTypeTextSource
2017-05-02IntroReferralReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.Senate
2017-05-01FloorMotion to reconsider laid on the table Agreed to without objection.House floor actions
2017-05-01VoteOn motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 405 - 2 (Roll no. 237). (text: CR H2978-2979)House floor actions
2017-05-01FloorConsidered as unfinished business. (consideration: CR H2987-2988)House floor actions
2017-05-01FloorAt 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.House floor actions
2017-05-01FloorDEBATE - The House proceeded with forty minutes of debate on H.R. 910.House floor actions
2017-05-01FloorConsidered under suspension of the rules. (consideration: CR H2978-2980)House floor actions
2017-05-01FloorMr. Hill moved to suspend the rules and pass the bill, as amended.House floor actions
2017-05-01CalendarsPlaced on the Union Calendar, Calendar No. 59.House floor actions
2017-05-01CommitteeReported (Amended) by the Committee on Financial Services. H. Rept. 115-102.House floor actions
2017-03-09CommitteeOrdered to be Reported (Amended) by the Yeas and Nays: 56 - 2.House committee actions
2017-03-09CommitteeCommittee Consideration and Mark-up Session Held.House committee actions
2017-02-07IntroReferralReferred to the House Committee on Financial Services.House floor actions
2017-02-07IntroReferralIntroduced in HouseLibrary of Congress

Policy Area :

Finance and Financial Sector
See Subjects
  • Administrative law and regulatory procedures
  • Financial services and investments
  • Securities
  • Securities and Exchange Commission (SEC)

Related Bills

See Related Bills