Legis Daily

Fair Access to Investment Research Act of 2017

USA115th CongressS-327| Senate 
| Updated: 10/6/2017
Dean Heller

Dean Heller

Republican Senator

Nevada

Cosponsors (2)
David Perdue (Republican)Gary C. Peters (Democratic)

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.

Bill Text Versions

View Text
5 versions available

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Timeline
Feb 7, 2017
Introduced in Senate
Feb 7, 2017
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 9, 2017
Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment favorably.
Mar 13, 2017
Committee on Banking, Housing, and Urban Affairs. Reported by Senator Crapo with amendments. Without written report.
Mar 13, 2017
Placed on Senate Legislative Calendar under General Orders. Calendar No. 11.
May 2, 2017

Latest Companion Bill Action

HR 115-910
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sep 11, 2017
Passed Senate with amendments by Unanimous Consent. (text: CR S5167-5168)
Sep 11, 2017
Passed/agreed to in Senate: Passed Senate with amendments by Unanimous Consent.(text: CR S5167-5168)
Sep 11, 2017
Measure laid before Senate by unanimous consent. (consideration: CR S5166-5168)
Sep 12, 2017
Message on Senate action sent to the House.
Sep 12, 2017
Received in the House.
Sep 12, 2017
Held at the desk.
Sep 27, 2017
Mr. Hill moved to suspend the rules and pass the bill.
Sep 27, 2017
Considered under suspension of the rules. (consideration: CR H7547-7549)
Sep 27, 2017
DEBATE - The House proceeded with forty minutes of debate on S. 327.
Sep 27, 2017
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H7547-7548)
Sep 27, 2017
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H7547-7548)
Sep 27, 2017
Motion to reconsider laid on the table Agreed to without objection.
Sep 29, 2017
Presented to President.
Oct 6, 2017
Signed by President.
Oct 6, 2017
Became Public Law No: 115-66.
  • February 7, 2017
    Introduced in Senate


  • February 7, 2017
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • March 9, 2017
    Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment favorably.


  • March 13, 2017
    Committee on Banking, Housing, and Urban Affairs. Reported by Senator Crapo with amendments. Without written report.


  • March 13, 2017
    Placed on Senate Legislative Calendar under General Orders. Calendar No. 11.


  • May 2, 2017

    Latest Companion Bill Action

    HR 115-910
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • September 11, 2017
    Passed Senate with amendments by Unanimous Consent. (text: CR S5167-5168)


  • September 11, 2017
    Passed/agreed to in Senate: Passed Senate with amendments by Unanimous Consent.(text: CR S5167-5168)


  • September 11, 2017
    Measure laid before Senate by unanimous consent. (consideration: CR S5166-5168)


  • September 12, 2017
    Message on Senate action sent to the House.


  • September 12, 2017
    Received in the House.


  • September 12, 2017
    Held at the desk.


  • September 27, 2017
    Mr. Hill moved to suspend the rules and pass the bill.


  • September 27, 2017
    Considered under suspension of the rules. (consideration: CR H7547-7549)


  • September 27, 2017
    DEBATE - The House proceeded with forty minutes of debate on S. 327.


  • September 27, 2017
    Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H7547-7548)


  • September 27, 2017
    On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H7547-7548)


  • September 27, 2017
    Motion to reconsider laid on the table Agreed to without objection.


  • September 29, 2017
    Presented to President.


  • October 6, 2017
    Signed by President.


  • October 6, 2017
    Became Public Law No: 115-66.

Finance and Financial Sector

Related Bills

  • HR 115-3280: Financial Services and General Government Appropriations Act, 2018
  • HR 115-910: Fair Access to Investment Research Act of 2017
  • HR 115-10: Financial CHOICE Act of 2017
Administrative law and regulatory proceduresFinancial services and investmentsSecuritiesSecurities and Exchange Commission (SEC)

Fair Access to Investment Research Act of 2017

USA115th CongressS-327| Senate 
| Updated: 10/6/2017
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.

Bill Text Versions

View Text
5 versions available

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Feb 7, 2017
Introduced in Senate
Feb 7, 2017
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 9, 2017
Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment favorably.
Mar 13, 2017
Committee on Banking, Housing, and Urban Affairs. Reported by Senator Crapo with amendments. Without written report.
Mar 13, 2017
Placed on Senate Legislative Calendar under General Orders. Calendar No. 11.
May 2, 2017

Latest Companion Bill Action

HR 115-910
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sep 11, 2017
Passed Senate with amendments by Unanimous Consent. (text: CR S5167-5168)
Sep 11, 2017
Passed/agreed to in Senate: Passed Senate with amendments by Unanimous Consent.(text: CR S5167-5168)
Sep 11, 2017
Measure laid before Senate by unanimous consent. (consideration: CR S5166-5168)
Sep 12, 2017
Message on Senate action sent to the House.
Sep 12, 2017
Received in the House.
Sep 12, 2017
Held at the desk.
Sep 27, 2017
Mr. Hill moved to suspend the rules and pass the bill.
Sep 27, 2017
Considered under suspension of the rules. (consideration: CR H7547-7549)
Sep 27, 2017
DEBATE - The House proceeded with forty minutes of debate on S. 327.
Sep 27, 2017
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H7547-7548)
Sep 27, 2017
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H7547-7548)
Sep 27, 2017
Motion to reconsider laid on the table Agreed to without objection.
Sep 29, 2017
Presented to President.
Oct 6, 2017
Signed by President.
Oct 6, 2017
Became Public Law No: 115-66.
  • February 7, 2017
    Introduced in Senate


  • February 7, 2017
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • March 9, 2017
    Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment favorably.


  • March 13, 2017
    Committee on Banking, Housing, and Urban Affairs. Reported by Senator Crapo with amendments. Without written report.


  • March 13, 2017
    Placed on Senate Legislative Calendar under General Orders. Calendar No. 11.


  • May 2, 2017

    Latest Companion Bill Action

    HR 115-910
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • September 11, 2017
    Passed Senate with amendments by Unanimous Consent. (text: CR S5167-5168)


  • September 11, 2017
    Passed/agreed to in Senate: Passed Senate with amendments by Unanimous Consent.(text: CR S5167-5168)


  • September 11, 2017
    Measure laid before Senate by unanimous consent. (consideration: CR S5166-5168)


  • September 12, 2017
    Message on Senate action sent to the House.


  • September 12, 2017
    Received in the House.


  • September 12, 2017
    Held at the desk.


  • September 27, 2017
    Mr. Hill moved to suspend the rules and pass the bill.


  • September 27, 2017
    Considered under suspension of the rules. (consideration: CR H7547-7549)


  • September 27, 2017
    DEBATE - The House proceeded with forty minutes of debate on S. 327.


  • September 27, 2017
    Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H7547-7548)


  • September 27, 2017
    On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H7547-7548)


  • September 27, 2017
    Motion to reconsider laid on the table Agreed to without objection.


  • September 29, 2017
    Presented to President.


  • October 6, 2017
    Signed by President.


  • October 6, 2017
    Became Public Law No: 115-66.
Dean Heller

Dean Heller

Republican Senator

Nevada

Cosponsors (2)
David Perdue (Republican)Gary C. Peters (Democratic)

Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

Related Bills

  • HR 115-3280: Financial Services and General Government Appropriations Act, 2018
  • HR 115-910: Fair Access to Investment Research Act of 2017
  • HR 115-10: Financial CHOICE Act of 2017
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Administrative law and regulatory proceduresFinancial services and investmentsSecuritiesSecurities and Exchange Commission (SEC)