Bill would let all companies get analyst research during stock offerings
Placed on the calendarH.R. 3672Latest action
Sponsor: Roger Williams · Representative · TX
AIDecoded by AI · checked against the recordRead the official text
Official title: Securities Research Modernization Act
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
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The bill expands a research-report exception from small "emerging growth companies" to all issuers and all security types.
40-second read · 4 questions answered below
What does this do?
This bill would broaden a securities law exception that currently allows banks and brokerages to publish research reports on emerging growth companies' common stock during public offerings. It would extend this exception to cover any company and any type of security, including bonds and preferred stock, not just common stock.
Who does it affect?
Investment banks, brokerage firms, and financial analysts who write research reports would be affected, along with companies of all sizes planning public securities offerings and investors who read analyst research.
Why does it matter?
Broader publication of research during offerings could give investors more information, but may also raise concerns about analysts producing favorable research to help firms sell securities they are underwriting. The bill does not alter other securities disclosure rules.
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Where does it stand?
- IntroducedJun 2, 2025
- House committee
- House voteYou are here · Jul 15, 2025
- Senate
- The president's desk
Right now: it was placed on the , and the official record shows no floor action on it since. If the Senate changes it, it goes back to the House before reaching the president.
Latest action: — Placed on the Union Calendar, Calendar No. 167.