0
0
0
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.
12/15/2023, 3:56 PM
Summary of Bill HR 2622
Bill 118 hr 2622, also known as the "Investment Advisers Act of 1940 Amendment," aims to make changes to the Investment Advisers Act of 1940. The main purpose of this bill is to officially include certain Securities and Exchange Commission (SEC) no-action letters into the Act. These letters currently exclude brokers and dealers who are compensated for providing specific research services from being classified as investment advisers.
By codifying these no-action letters, the bill seeks to provide clarity and consistency in the regulation of brokers and dealers who offer research services. This would ensure that these individuals are not subject to the same regulations as traditional investment advisers.
In addition to codifying the SEC no-action letters, the bill also addresses other purposes related to the regulation of brokers, dealers, and investment advisers. The specific details of these additional purposes are not provided in the summary. Overall, Bill 118 hr 2622 aims to make amendments to the Investment Advisers Act of 1940 in order to provide clear guidelines for brokers and dealers who provide research services, and to ensure that they are not classified as investment advisers under the Act.
By codifying these no-action letters, the bill seeks to provide clarity and consistency in the regulation of brokers and dealers who offer research services. This would ensure that these individuals are not subject to the same regulations as traditional investment advisers.
In addition to codifying the SEC no-action letters, the bill also addresses other purposes related to the regulation of brokers, dealers, and investment advisers. The specific details of these additional purposes are not provided in the summary. Overall, Bill 118 hr 2622 aims to make amendments to the Investment Advisers Act of 1940 in order to provide clear guidelines for brokers and dealers who provide research services, and to ensure that they are not classified as investment advisers under the Act.
Current Status of Bill HR 2622
Bill HR 2622 is currently in the status of Bill Introduced since April 13, 2023. Bill HR 2622 was introduced during Congress 118 and was introduced to the House on April 13, 2023. Bill HR 2622's most recent activity was Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of July 12, 2023
Bipartisan Support of Bill HR 2622
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 2622
Primary Policy Focus
Finance and Financial SectorComments
Sponsors and Cosponsors of HR 2622
Latest Bills
Southcentral Foundation Land Transfer Act of 2025
Bill HR 3620August 12, 2026
Southcentral Foundation Land Transfer Act of 2025
Bill S 2098August 12, 2026
Intelligence Authorization Act for Fiscal Year 2027
Bill S 4615August 12, 2026
Less Bureaucracy, Better K–12 Education Act
Bill HR 9610August 12, 2026
Less Bureaucracy, Better Student Aid Act
Bill HR 9609August 12, 2026
Foreign Robocall Elimination Act
Bill S 2666August 12, 2026
UNLOCK AUKUS Act
Bill S 4709August 12, 2026
Diversity Jurisdiction Inflation Adjustment Act
Bill S 4850August 12, 2026
To designate the facility of the United States Postal Service located at 86 Main Street in Haverstraw, New York, as the Paul Piperato Post Office Building.
Bill HR 1009August 12, 2026
To designate the facility of the United States Postal Service located at 2407 State Route 71, Suite 1, in Spring Lake, New Jersey, as the James J. Howard Post Office.
Bill HR 1431August 12, 2026
