H.R. 3672 — Reported in House

IB Union Calendar No. 167 119th CONGRESS 1st Session H. R. 3672 [Report No. 119–204] IN THE HOUSE OF REPRESENTATIVES June 2, 2025Mr. Williams of Texas (for himself and Mr. Fields) introduced the following bill; which was referred to the Committee on Financial Services July 15, 2025Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printedStrike out all after the enacting clause and insert the part printed in italicFor text of introduced bill, see copy of bill as introduced on June 2, 2025 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. 1. Short title This Act may be cited as the Securities Research Modernization Act. 2. Provision of research report 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. July 15, 2025Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed