Bill · H.R. 3672· House(119-HR-3672)
Securities Research Modernization Act
- Introduced
- 6/2/2025
- Last activity
- 7/15/2025 — Placed on the Union Calendar, Calendar No. 167.
- Sponsored by
- Roger Williams
- Cosponsors
- - 0 - 1
- Introduced
- On Calendar
What this bill would do
This bill is called the "Securities Research Modernization Act." It seeks to change the Securities Act of 1933. The goal is to expand the research report exception. This expansion would cover reports about any issuer that proposes an offering of public securities.
Yes· 3 of 11
Would business owners be better off under this?+2
More information for investors may make it easier to gain investment for business owners
Would middle-income households be better off under this?+1
More investment information could lead to better investments for the middle class.
Would high-income households be better off under this?+1
More investment information could lead to better investments for high-income households.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Expanded Research Access: By changing "an emerging growth company" to "an issuer" in Section 2(a), the bill expands the research report exception to a broader group of entities.
-
Broader Security Coverage: By changing "the common equity" to "any" in Section 2(b), the exception applies to more types of securities.
Potential Negative Impacts for People
- No negative impacts for people are explicitly mentioned in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+2Good For Billionaires+1Good For High Income Households+1Good For High Net Worth Individuals+1Good For Middle Class Households+1Good For Retirees+1Good For Ultra High Net Worth Individuals+1
- Economy And Finance
- Improves Consumer Protection+1Improves Economic Growth+1Improves Small Business Support+1Increases Job Creation+1
- 7/15/2025
- Reported (Amended) by the Committee on Financial Services. H. Rept. 119-204.
- Placed on the Union Calendar, Calendar No. 167.
- 6/10/2025
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported (Amended) by the Yeas and Nays: 31 - 19.
- 6/2/2025
- Referred to the House Committee on Financial Services.
- 1 Cosponsor added.
- Introduced in House
Cleo FieldsDemocrat · Louisiana