Securities Research Modernization Act

# Securities Research Modernization Act Summary **What the Bill Would Do:** This bill would expand who can publish research reports about upcoming stock offerings without triggering federal securities registration rules. Currently, securities brokers and dealers can only publish research about proposed offerings from "emerging growth companies" (generally smaller, newer companies) without following strict registration requirements. This bill would extend that same allowance to research reports about *any* company's proposed public offering, regardless of size or age. **Who It Affects:** The change mainly affects financial firms, investment banks, and securities brokers who publish research reports.

It could also indirectly affect investors and companies planning to go public, as it may increase the availability and volume of research available to the public about upcoming stock offerings. **Current Status:** The bill is currently in committee (HR 3672 in the 119th Congress), meaning it hasn't yet been voted on by the full House of Representatives. It was introduced by Representative Roger Williams, a Republican from Texas.