SIFMA yesterday issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, on House passage of theFair Access to Investment Research Act (H.R. 910)sponsored by Rep. French Hill (R-AK):
We commend the House for its bipartisan passage of theFair Access to Investment Research Act, which would reduce obstacles to research on exchange traded funds (ETFs) and registered investment companies. This bill clarifies an outdated securities regulation by including a statutory safe harbor for certain covered ETF research reports and directing the SEC to promulgate rules, as appropriate, for research on other funds under the Investment Company Act of 1940. As the ETF market continues to grow, this bills common sense clarifications will allow broker-dealers to produce more research on ETFs, providing consumers with greater access to information and fueling capital formation and job creation.
