The House of Representatives passed the Fair Access to Investment Research Act of 2017. The bill is intended to establish a safe harbor that would permit broker-dealers to issue research reports that cover exchange-traded funds.
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The House Financial Services Committee approved six bills intended to enhance capital formation.
Treasury Secretary Jacob Lew testified that "the financial system [is] safer, more resilient, and supportive of long-term economic growth" as a result of the creation of the Financial Stability Oversight Council.
The House of Representatives passed a bill that directs the SEC to provide a safe harbor allowing broker-dealers to publish research reports on investment funds that are in continuous distribution without having to deem those reports to be "prospectuses."