Press Releases

Today, the House of Representatives passed the Senate companion to H.R. 910, the Fair Access to Investment Research Act. Congressman French Hill (AR-02) introduced H.R. 910, which passed the House with overwhelming bipartisan support on May 1, 2017 by a vote of 405-2. The Senate’s version would add minor amendments to H.R. 910.

“During my three decades the financial industry, I witnessed the explosive growth in the exchange-traded funds (ETF) industry and the lack of available research caused by outdated securities law. My commonsense bill, with Senate amendments, clarifies current law to allow broker-dealers to publish ETF research, facilitating investors’ access to useful information in this rapidly growing market. This is a good bill because it removes barriers to investment and promotes capital formation.

“I thank my friends, Representative Foster of Illinois and Senator Heller of Nevada, for working with me on this bipartisan, common sense issue.”

Background:

The Fair Access to Investment Research Act, S. 327, 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 not be deemed "offers" under specified provisions of securities law, even if the broker or dealer participates in the registered offering of the investment fund's securities.