Introduced in House — H.R. 3672

119th CONGRESS

1st Session

H. R. 3672

IN THE HOUSE OF REPRESENTATIVES

June 2, 2025

Mr. Williams of Texas (for himself and Mr. Fields) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Securities Act of 1933 to expand the research report exception to include reports about any issuer that undertakes a proposed offering of public securities.

Section 1. Short title

This Act may be cited as the Securities Research Modernization Act.

Sec. 2. Provision of research

Section 2(a)(3) of the Securities Act of 1933 (15 U.S.C. 77b(a)(3)) is amended—

(a)

by striking an emerging growth company and inserting an issuer;

(b)

by striking the common equity and inserting any; and

(c)

by striking such emerging growth company and inserting such issuer.