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H.R. 7187119th CongressOn the floor calendarLatest action Sep 1, 2026Decoded by AI · checked against the record
The Daily Digest gives the House's next meeting as 2 p.m., Tuesday, September 8 — a pro forma session. A bill cannot be called up at one, so this page shows no live floor claim today. The record below is unchanged.
Senate Daily Digest · Sep 4, 2026Read the sourceSchedule checked Sep 5, 2026, 9:10 PM UTC
The plain-language version leads. The official text is always the reference.
The Clarity for Compensation Act exempts financial advisers' personal pay-receiving companies from broker registration rules if conditions are met.
40-second read · 4 questions answered below
This bill amends federal securities law to exempt personal business entities that financial advisers set up to receive pay from their brokerage firm from having to register as brokers. The exemption applies only if the firm controls payment timing and amounts, keeps records, properly supervises the adviser, has a written agreement, and the entity is owned only by the adviser or immediate family and does no actual brokerage business.
This affects financial advisers and stockbrokers who use personal companies to manage compensation, the brokerage firms that employ them, and the SEC and industry regulators that oversee them.
The change removes legal uncertainty and registration paperwork for a common pay arrangement, while leaving customer protections unchanged since brokerage firms remain responsible for supervision and compliance.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: it's on the House floor calendar. If the Senate changes it, it goes back to the House before reaching the President.
Latest action: — Placed on the Union Calendar, Calendar No. 691.