HR 3672

Summary

Securities Research Modernization Act This bill allows a securities broker or dealer to publish or distribute a research report on a proposed public offering by any issuer without it being considered an offer to sell securities for purposes of registration requirements. Currently, only reports published or distributed regarding a proposed public offering by an emerging growth company fall under this exception.

Bill status

Status

Reported

Sponsor

Rep. Roger Williams [R-TX-25]

Cosponsors

1

Policy area

Finance and Financial Sector

Introduced

2025-06-02

Latest action

2025-07-15: Placed on the Union Calendar, Calendar No. 167.

Committee referrals

• Financial Services Committee: House · Reported By · 2025-07-15
• Financial Services Committee: House · Markup By · 2025-06-10
• Financial Services Committee: House · Referred To · 2025-06-02

Recent actions

• 2025-07-15: Placed on the Union Calendar, Calendar No. 167.
• 2025-07-15: Reported (Amended) by the Committee on Financial Services. H. Rept. 119-204.
• 2025-07-15: Reported (Amended) by the Committee on Financial Services. H. Rept. 119-204.
• 2025-06-10: Ordered to be Reported (Amended) by the Yeas and Nays: 31 - 19.
• 2025-06-10: Committee Consideration and Mark-up Session Held