To require the Securities and Exchange Commission to extend a no-action determination relating to the provision of research services by broker-dealers, and for other purposes.
About This Bill
Committee
Latest Action · June 22, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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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