Fair Access to Investment Research Act of 2017
- Last Action
- 10/6/2017
Actions
- 2017-10-06Became Public Law No: 115-66.
- 2017-10-06Became Public Law No: 115-66.
- 2017-10-06Signed by President.
- 2017-10-06Signed by President.
- 2017-09-29Presented to President.
- 2017-09-29Presented to President.
- 2017-09-27Motion to reconsider laid on the table Agreed to without objection.
- 2017-09-27On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H7547-7548)
- 2017-09-27Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H7547-7548)
- 2017-09-27DEBATE - The House proceeded with forty minutes of debate on S. 327.
- 2017-09-27Considered under suspension of the rules. (consideration: CR H7547-7549)
- 2017-09-27Mr. Hill moved to suspend the rules and pass the bill.
- 2017-09-12Held at the desk.
- 2017-09-12Message on Senate action sent to the House.
- 2017-09-12Received in the House.
Showing 15 of 20 actions. Full history on Congress.gov.
CRS Summary
As of 2017-10-06 (49)
Fair Access to Investment Research Act of 2017
(Sec. 2) 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.
The safe harbor shall generally not apply to reports about a business development company or a registered closed-end investment company published by a broker or dealer during a specified time frame.
Cosponsors (2)
- Gary Peters (D-MI)
- David Perdue (R-GA)
Subjects
- Administrative law and regulatory procedures
- Financial services and investments
- Securities
- Securities and Exchange Commission (SEC)
Became law: Pub. L. 115-66
Read on Congress.govSourced from Congress.gov (public domain).
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