Release Date: May 1, 2017
Contact: Carol Danko, firstname.lastname@example.org, 202-962-7390
SIFMA Statement on House Passage of the Fair Access to Investment Research Act
Washington, D.C., May 1, 2017- SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, on House passage of the Fair Access to Investment Research Act (H.R. 910) sponsored by Rep. French Hill (R-AK):
"We commend the House for its bipartisan passage of the Fair 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 This bill clarifies an outdated securities regulation by including a statutory safe harbor for certain covered ETF research reports and directing the SEC to promulgate rules, as appropriate,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 bill's 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."
SIFMA is the voice of the U.S. securities industry. We represent the broker-dealers, banks and asset managers whose nearly 1 million employees provide access to the capital markets, raising over $2.5 trillion for businesses and municipalities in the U.S., serving clients with over $20 trillion in assets and managing more than $67 trillion in assets for individual and institutional clients including mutual funds and retirement plans. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit http://www.sifma.org.