H.R. 3672

119th CONGRESS 1st Session

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.

IN THE HOUSE OF REPRESENTATIVES · June 2, 2025 · Sponsor: Mr. Williams of Texas · Committee: Committee on Financial Services

Table of contents

• H.R. 3672
  • SEC. 1. Short title
  • SEC. 2. Provision of research report

SEC. 1. Short title

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

SEC. 2. Provision of research report

• Section 2(a)(3) of the Securities Act of 1933 () is amended— 15 U.S.C. 77b(a)(3)
  • by striking an emerging growth companyand inserting an issuer;
  • by striking the common equityand inserting any; and
  • by striking such emerging growth companyand inserting such issuer.