Fair Access to Investment Research Act of 2016

Hozzl · 2023-01-11T13:32:38Z

Explore the details of Senate Bill 3092 Fair Access to Investment Research Act of 2016 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

1/11/2023, 1:32 PM

Congressional Summary of S 3092

Fair Access to Investment Research Act of 2016

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.

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Current Status of Bill S 3092

Bill S 3092 is currently in the status of Bill Introduced since June 23, 2016. Bill S 3092 was introduced during Congress 114 and was introduced to the Senate on June 23, 2016. Bill S 3092's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of June 23, 2016

Bipartisan Support of Bill S 3092

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 3092

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

Administrative law and regulatory proceduresFinancial services and investmentsSecuritiesSecurities and Exchange Commission (SEC)

Alternate Title(s) of Bill S 3092

Fair Access to Investment Research Act of 2016A bill to direct the Securities and Exchange Commission to provide a safe harbor related to certain investment fund research reports, and for other purposes.Fair Access to Investment Research Act of 2016

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