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H.R. 5019: Fair Access to Investment Research Act of 2016

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H.R. 5019: Fair Access to Investment Research Act of 2016

114th Congress · introduced 2016-04-21 · Finance and Financial Sector · Latest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2016-04-21 · official record
  2. Who proposed it: Rep. Hill, J. French [R-AR-2] · what a sponsor is
  3. What happened next: 1 recorded vote in our records. Latest: House roll call 175 (2016): On Motion to Suspend the Rules and Pass, HR5019 (2016-04-28), Passed. See all
  4. Where it stands now: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Fair Access to Investment Research Act of 2016

Plain summary

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Fair Access to Investment Research Act of 2016 (Sec. 2) This bill directs the Securities and Exchange Commission (SEC) to revise a specified regulation to create a safe harbor for certain publications or distributions of research reports by brokers or dealers distributing securities. The revised regulation shall declare that a published or distributed investment fund research report shall not be deemed to constitute an offer for sale or an offer to sell a security that is the subject of the offering pursuant to an effective registration statement, even if the broker or dealer is participating or will participate in the registered offering of the covered investment fund's securities. The covered investment fund research report shall indeed be deemed to satisfy the regulation's requirements as well as those of any self-regulatory organization. The SEC shall not impose specified conditions and requirements when implementing the safe harbor. Until the SEC has adopted such safe harbor revisions, and the Financial Industry Regulatory Authority (FINRA) has revised a related rule, a covered investment fund shall be deemed to be a security listed on a national securities exchange that is not subject to a certain filing requirement of the Investment Company Act of 1940.

Congressional Research Service summary (Passed House without amendment), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Fair Access to Investment Research Act of 2016

Source: Congressional Research Service summary (Passed House without amendment)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Hill, J. French [R-AR-2] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Sponsor's campaign money: Rep. Hill, J. French [R-AR-2] reported raising $5.3 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

Recorded votes

Words on this page, explained (3)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Rulemaking
The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Securities
Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong114-hr5019 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114