Too Narrow to Succeed Act

Bill 118 hr 10336, also known as the "Improving Access for Diverse-Owned Asset Management Firms Act," aims to address the lack of diversity in the asset management industry by promoting access for diverse-owned firms. The bill seeks to increase opportunities for minority-owned and women-owned asset management firms to participate in the management of federal retirement plans and other investment opportunities.

The key provisions of the bill include requiring federal agencies to develop strategies to increase the utilization of diverse-owned asset management firms, establishing reporting requirements for agencies to track their progress in promoting diversity in asset management, and creating a task force to study and make recommendations on ways to improve access for diverse-owned firms.

The bill also includes provisions to increase transparency and accountability in the asset management industry, such as requiring firms to disclose information about their diversity and inclusion efforts and establishing a public database of diverse-owned asset management firms. Overall, the "Improving Access for Diverse-Owned Asset Management Firms Act" aims to promote diversity and inclusion in the asset management industry and create more opportunities for minority-owned and women-owned firms to participate in managing federal retirement plans and other investment opportunities.