This bill expands the types of companies that can provide research reports on their public securities. It aims to give investors better access to information about a wider range of companies.
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.