H.R. 3672 explained · 119th Congress · Pending in Congress
Securities Research Modernization Act
Cosponsors: 1 (1 D, 0 R) · per Congress.gov, 2026-10-11
Introduced: 2025-06-02
Latest action (2025-07-15): Placed on the Union Calendar, Calendar No. 167.
What H.R. 3672 does, in plain terms
Securities Research Modernization Act This bill allows a securities broker or dealer to publish or distribute a research report on a proposed public offering by any issuer without it being considered an offer to sell securities for purposes of registration requirements. Currently, only reports published or distributed regarding a proposed public offering by an emerging growth company fall under this exception.
Official summary by the Congressional Research Service, via Congress.gov.
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