Increasing Access to Adviser Information Act
- Last Action
- 6/22/2023
Actions
- 2023-06-22Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 2023-06-22Introduced in Senate
CRS Summary
As of 2023-06-22 (00)
Increasing Access to Adviser Information Act
This bill extends for 180 days 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.
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.