Voice your opinion on congressional bill HR2622-118 and let lawmakers know your stance with UnPac!

This bill provides statutory authority for specified 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 currently waives enforcement against these broker-dealers.

Senate Actions

IntroReferral
Jul. 12 2023	Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

House floor actions Actions

Floor
Jul. 11 2023	Motion to reconsider laid on the table Agreed to without objection. On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3184) DEBATE - The House proceeded with forty minutes of debate on H.R. 2622. Considered under suspension of the rules. (consideration: CR H3184-3185) Mrs. Wagner moved to suspend the rules and pass the bill, as amended.

Calendars
Jul. 11 2023	Placed on the Union Calendar, Calendar No. 105.

Committee
Jul. 11 2023	Reported (Amended) by the Committee on Financial Services. H. Rept. 118-134.

IntroReferral
Apr. 13 2023	Referred to the House Committee on Financial Services.

Library of Congress Actions

Floor
Jul. 11 2023	Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3184)

Committee
Jul. 11 2023	Reported (Amended) by the Committee on Financial Services. H. Rept. 118-134.

IntroReferral
Apr. 13 2023	Introduced in House Introduced in House

House committee actions Actions

Committee
May. 24 2023	Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 45 - 2. Committee Consideration and Mark-up Session Held

House bill HR2622-118

To amend the Investment Advisers Act of 1940 to codify certain Securities and Exchange Commission no-action letters that exclude brokers and dealers compensated for certain research services from the definition of investment adviser, and for other purposes.

House bill HR2622-118

To amend the Investment Advisers Act of 1940 to codify certain Securities and Exchange Commission no-action letters that exclude brokers and dealers compensated for certain research services from the definition of investment adviser, and for other purposes.

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