Legis Daily

Increasing Access to Adviser Information Act

USA118th CongressS-2141| Senate 
| Updated: 6/22/2023
Jerry Moran

Jerry Moran

Republican Senator

Kansas

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Increasing Access to Adviser Information Act This bill extends for 180 days Securities and Exchange Commission (SEC) guidance allowing broker-dealers to receive payments for research services provided to investment managers. Under current law, broker-dealers that receive payments for performing this service must register as investment advisors. However, the SEC through guidance currently waives enforcement against these broker-dealers. This waiver is set to expire on July 3, 2023. The SEC must report on the impact of continuation or expiration of this guidance.
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Timeline

Bill from Previous Congress

S 117-3965
Increasing Access to Adviser Information Act
Jun 22, 2023
Introduced in Senate
Jun 22, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • Bill from Previous Congress

    S 117-3965
    Increasing Access to Adviser Information Act


  • June 22, 2023
    Introduced in Senate


  • June 22, 2023
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Finance and Financial Sector

Increasing Access to Adviser Information Act

USA118th CongressS-2141| Senate 
| Updated: 6/22/2023
Increasing Access to Adviser Information Act This bill extends for 180 days Securities and Exchange Commission (SEC) guidance allowing broker-dealers to receive payments for research services provided to investment managers. Under current law, broker-dealers that receive payments for performing this service must register as investment advisors. However, the SEC through guidance currently waives enforcement against these broker-dealers. This waiver is set to expire on July 3, 2023. The SEC must report on the impact of continuation or expiration of this guidance.
View Full Text

Suggested Questions

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

Timeline

Bill from Previous Congress

S 117-3965
Increasing Access to Adviser Information Act
Jun 22, 2023
Introduced in Senate
Jun 22, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • Bill from Previous Congress

    S 117-3965
    Increasing Access to Adviser Information Act


  • June 22, 2023
    Introduced in Senate


  • June 22, 2023
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jerry Moran

Jerry Moran

Republican Senator

Kansas

Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

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