House Passes Slate of Bipartisan Financial Services Legislation
The Measures Adopted Will Strengthen U.S. Capital Markets and Honor the Service of the United States Marine Corps
Washington,
July 11, 2023 -
Today, the U.S. House of Representatives passed three pieces of bipartisan financial services legislation to facilitate capital formation and mint a commemorative coin in honor of the 250th anniversary of the United States Marine Corps.
The financial services bills passed by the House include:
H.R. 2622, a bill to amend the Investment Advisers Act of 1940 to codify certain Securities and Exchange Commission no-action letters that exclude brokers and dealers compensated for certain research services from the definition of investment adviser, and for other, sponsored by Rep. Pete Sessions (TX-17), will strengthen American capital markets by providing U.S. broker-dealers relief from international regulations such as MiFID and MiFID II, preventing a reduction in investment research that would harm investment managers and the retail investor customers they serve.
Watch Rep. Sessions’ remarks on the House Floor in support of H.R. 2622 here or by clicking the image above.
H.R. 1548, the Improving Access to Small Business Information Act, sponsored by Rep. Young Kim (CA-40), will allow the SEC’s Advocate for Small Business Capital Formation to become a more impactful voice in support of American entrepreneurs and capital formation by enabling the Advocate to engage with American small businesses with less friction.
Watch Rep. Kim’s remarks on the House Floor in support of H.R. 1548 here or by clicking the image above.
H.R. 1096, the 250th Anniversary of the United States Marine Corps Commemorative Coin Act, directs the minting of a series of coins to commemorate the 250th anniversary of one of the most storied branches of the U.S. armed forces, the United States Marine Corps.
Watch Rep. Ann Wagner’s (MO-02) remarks on the House Floor in support of H.R. 1096 here or by clicking the image above.
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