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.
Milestones
3 milestones6 actions
Jul 15, 2025House
Placed on the Union Calendar, Calendar No. 167.
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.
Jun 10, 2025House
Committee Consideration and Mark-up Session Held
Jun 2, 2025House
Referred to the House Committee on Financial Services.
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.
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