Congress·Reported·H.R. 3672

Securities Research Modernization Act

Investment Research: Expanding Analyst Reports on Public Companies

12 months ago·View on Congress.gov·Read full text

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Stalled

No legislative action in over 90 days.

Legislative Progress

House

Senate

President

Law

Key Points

This bill changes 90-year-old rules to let financial experts publish research reports about companies even when those companies are in the middle of selling new stocks or bonds to the public.
Currently, these reports are mostly allowed only for smaller, newer companies; this change would expand the rules to cover all companies, regardless of their size or how long they have been in business.
The goal is to give investors more information and expert analysis to help them decide whether to buy a company's new securities, rather than making them wait for the official company documents.
By making it easier for analysts to share their findings, the bill aims to help the stock market work more efficiently and ensure that investors have access to more viewpoints during important company transitions.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.

Milestones

3 milestones6 actions

Jul 15, 2025House

Placed on the Union Calendar, Calendar No. 167.

The bill is now on the schedule for the full chamber to consider. It's in line for debate and a vote.

Jul 15, 2025House

Reported (Amended) by the Committee on Financial Services. H. Rept. 119-204.

Jun 10, 2025House

Ordered to be Reported (Amended) by the Yeas and Nays: 31 - 19.

The committee approved this bill and is sending it to the full chamber for a vote. This is a significant step — most bills never get this far.

Jun 10, 2025House

Committee Consideration and Mark-up Session Held

Jun 2, 2025House

Referred to the House Committee on Financial Services.

Votes

No votes have been recorded for this legislation yet.

News

No related news coverage found for this legislation yet.

Source Information

Document Type

Congressional Bill

Official Title

Securities Research Modernization Act

Bill NumberHR 3672

Congress119th Congress

ChamberHouse of Representatives

Latest ActionPlaced on the Union Calendar, Calendar No. 167.

Data Sources

Congress.gov

Official legislative information

Read Full Bill Text

Sponsor

Cosponsors

(1)

D: 1

Analysis generated by AI. Always verify with official sources.