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HR 5019 114th Congress House Finance and Financial Sector Administrative law and regulatory procedures Financial services and investments Securities Securities and Exchange Commission (SEC)

Fair Access to Investment Research Act of 2016

Introduced: April 21, 2016 Introduced by: Hill, J. French Republican · Arkansas See on congress.gov
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 Everywhere this bill has been 11 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 9, 2016
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Apr 28, 2016
Motion to reconsider laid on the table Agreed to without objection.
Apr 28, 2016
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)
Apr 28, 2016
Passed/agreed to in 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)
Apr 28, 2016
Considered as unfinished business. (consideration: CR H2081)
Apr 26, 2016
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.
Apr 26, 2016
DEBATE - The House proceeded with forty minutes of debate on H.R. 5019.
Apr 26, 2016
Considered under suspension of the rules. (consideration: CR H1950-1952)
Apr 26, 2016
Mr. Garrett moved to suspend the rules and pass the bill.
Apr 21, 2016
Referred to the House Committee on Financial Services.
Apr 21, 2016
Introduced in House
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
Apr 28, 2016 House · vote #175 On Motion to Suspend the Rules and Pass Passed 411–6 See who voted →
 Plain-English summary Congressional Research Service

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

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.

What's happening now May 9, 2016

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 2