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 Date | Type | Text | Source |
---|---|---|---|
2017-05-02 | IntroReferral | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate |
2017-05-01 | Floor | Motion to reconsider laid on the table Agreed to without objection. | House floor actions |
2017-05-01 | Vote | On 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 |
2017-05-01 | Floor | Considered as unfinished business. (consideration: CR H2987-2988) | House floor actions |
2017-05-01 | Floor | 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. | House floor actions |
2017-05-01 | Floor | DEBATE - The House proceeded with forty minutes of debate on H.R. 910. | House floor actions |
2017-05-01 | Floor | Considered under suspension of the rules. (consideration: CR H2978-2980) | House floor actions |
2017-05-01 | Floor | Mr. Hill moved to suspend the rules and pass the bill, as amended. | House floor actions |
2017-05-01 | Calendars | Placed on the Union Calendar, Calendar No. 59. | House floor actions |
2017-05-01 | Committee | Reported (Amended) by the Committee on Financial Services. H. Rept. 115-102. | House floor actions |
2017-03-09 | Committee | Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 2. | House committee actions |
2017-03-09 | Committee | Committee Consideration and Mark-up Session Held. | House committee actions |
2017-02-07 | IntroReferral | Referred to the House Committee on Financial Services. | House floor actions |
2017-02-07 | IntroReferral | Introduced in House | Library of Congress |