(Washington, DC) – Recently, U.S. Senators Dean Heller (R-NV) and Gary Peters (D-MI) introduced S. 3092, the Fair Access to Investment Research Act, which would give investors access to more research and information on Exchange Traded Funds (ETFs).

“This legislation will help Nevada’s investors better understand the financial products they may choose to put their hard-earned money into,” said Senator Dean Heller. “From workers investing for retirement or young families saving for their future, everyone will benefit by having more information readily available on ETFs. I’m proud to team up with Senator Peters to introduce this bipartisan bill and will continue to push for enactment of this legislation through my work on the Senate Banking, Housing, and Urban Affairs Committee.”

“It is critical that investors in Michigan and across the country are equipped with the resources and knowledge to make informed investment decisions,” said Senator Gary Peters. “I’m pleased to join Senator Heller in introducing bipartisan legislation that would create greater transparency for families looking to diversify their investment portfolios.”

BACKGROUND:

ETFs are becoming one of the fastest-growing investment products for Americans, with millions of households holding ETFs as part of their investment portfolio.  Currently, securities laws provide legal protections for broker-dealers to provide research reports for several asset classes such as listed stocks and corporate debt — but not for ETFs.  The Fair Access to Investment Research Act would create parity in the law by providing a safe harbor for broker-dealers to publish public research reports on ETFs.

S. 3092, the Fair Access to Investment Research Act, is companion legislation to H.R. 5019 championed by Congressman French Hill (R-AR) and Congressman John Carney (D-DE) in the House of Representatives.

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