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United States · Bill · HR

H.R. 2622 (118th)

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.

referredUnited States· United States Congress· EN

Introduced

13 April 2023

Last action

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Status

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

Sponsors

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Subjects

Discovery layer

Source updated

27 May 2025

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Summary

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.

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Documents

10 official files

Referred in Senate (text)

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Sources

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