S. 2141 · 118th Congress
Increasing Access to Adviser Information Act
- Stage
- In committee
- Sponsor
- Jerry Moran
- Introduced
- 2023-06-22
- Latest action
- 2023-06-22 · Introduced in Senate
Summary
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.