This bill, titled the Clarity for Compensation Act , amends the Securities Exchange Act of 1934 to create an exemption from the definition of a broker for certain registered representative-owned personal services entities. These entities are established by registered representatives primarily to receive compensation for their services and for administrative purposes, aiming to prevent them from being inadvertently classified as brokers and subjected to unnecessary regulatory burdens. For this exemption to apply, the personal services entity must meet several strict conditions, including only receiving compensation on behalf of the representative from their broker, with the broker approving payments and maintaining records. Furthermore, the entity cannot engage in any other broker or dealer activity, and the primary broker must maintain adequate supervision over the representative. The entity's ownership is restricted to the registered representative, their immediate family members, or entities wholly owned by them. To ensure ongoing compliance, the exempt personal services entity must maintain and make available all books and records required of the associated broker, plus any additional records the Commission deems necessary. This oversight allows regulators to verify continued adherence to the broker definition exception, which takes effect 180 days after enactment.