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.

I 118TH CONGRESS 1ST SESSION H. R. 2576 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 APRIL 13, 2023 Mr. WILLIAMS of Texas 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. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. PROVISION OF RESEARCH. 3 Section 2(a)(3) of the Securities Act of 1933 (15 4 U.S.C. 77b(a)(3)) is amended— 5 (a) by striking ‘‘an emerging growth company’’ and 6 inserting ‘‘an issuer’’; 7 (b) by striking ‘‘the common equity’’ and inserting 8 ‘‘any’’; and 9 VerDate Sep 11 2014 23:39 Apr 14, 2023 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H2576.IH H2576 kjohnson on DSK79L0C42PROD with BILLS 2 •HR 2576 IH (c) by striking ‘‘such emerging growth company’’ and 1 inserting ‘‘such issuer’’. 2 Æ VerDate Sep 11 2014 23:39 Apr 14, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H2576.IH H2576 kjohnson on DSK79L0C42PROD with BILLS