HR 2622
118th Congress
House
Finance and Financial Sector
Financial services and investments
Licensing and registrations
User charges and fees
To amend the Investment Advisers Act of 1940 to codify certain Securities and Exchange Commission no-action letters that exclude brokers and dealers compensated for certain research services from the definition of investment adviser, and for other purposes.
Everywhere this bill has been
13 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 12, 2023
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 11, 2023
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3184)
Jul 11, 2023
Considered under suspension of the rules. (consideration: CR H3184-3185)
Jul 11, 2023
Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
Jul 11, 2023
Placed on the Union Calendar, Calendar No. 105.
Jul 11, 2023
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-134.
Jul 11, 2023
Motion to reconsider laid on the table Agreed to without objection.
Jul 11, 2023
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3184)
Jul 11, 2023
DEBATE - The House proceeded with forty minutes of debate on H.R. 2622.
May 24, 2023
Committee Consideration and Mark-up Session Held
May 24, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 45 - 2.
Apr 13, 2023
Referred to the House Committee on Financial Services.
Apr 13, 2023
Introduced in House
Plain-English summary
This bill extends for six months Securities and Exchange Commission (SEC) guidance allowing broker-dealers to receive payments for research services provided to investment managers. Under current law, broker-dealers that receive payments for performing this service must register as investment advisors. However, the SEC through guidance currently waives enforcement against these broker-dealers. This waiver is set to expire on July 3, 2023.
The SEC must report on the impact of continuation or expiration of this guidance.
What's happening now
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
2
Cosponsors
1