118th Congress · SENATE BILLBILL

S. 2141 — Increasing Access to Adviser Information Act

“A bill 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.”

Finance and financial sector

Introduced Jun 22, 2023

Last action Jun 22, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jun 22, 2023

Step 2

Referred

Jun 22, 2023

Banking, Housing, and Urban Affairs

Step 3

Committee

Step 4

Senate

Step 5

House floor

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

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.

Provisions · 2 sectionsIntroduced in Senate

Timeline · 2 actions

Jun 22, 2023

Introduced in Senate

Jun 22, 2023

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.