I 118th CONGRESS 1st Session H. R. 2576 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.

1. Provision of research 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 .