Congress·Reported·H.R. 3672

Securities Research Modernization Act

Investment Research: Expanding Analyst Reports on Public Companies

Jul 15, 2025·View on Congress.gov·Read full text

StalledNext up: The HouseNo action in 12 months

This bill is waiting for a vote by the full House of Representatives after being approved by a committee. It has been stalled since July 2025, as there has been no recorded action on the bill for 11 months. House leadership must decide to schedule a floor vote for the bill to move forward.

Legislative Progress

House

No action since July 2025

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.

No votes, news coverage, or related bills recorded for this bill 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.