; and (ii) any recommendations the Under Secretary may have for regulatory or legislative changes to increase the use of such advisers and firms. (2) Updated reports The Under Secretary of Commerce for Minority Business Development shall update the report required under paragraph (1)(B) every 2 years. (3) Definitions In this subsection, the terms investment advisor , minority and minority- or women-owned have the meaning give those terms in section 132(i)(2) of the Higher Education Act of 1965 (as added by subsection (a)). 3. MBDA Conference (a) In general The Under Secretary of Commerce for Minority Business Development shall, in consultation with the Secretary of Education, every 2 years, convene a conference of institutions of higher education, minority- or women-owned investment advisers, minority- or women-owned asset management firms, and investment consultants to help those institutions, advisers, and firms to share best practices for investment and bond transactions, including increasing opportunities for such advisers and asset management firms, and learn about the benefits of using such advisers and firms for investment and bond transactions. (b) Definitions In this section, the terms investment advisor , minority and minority- or women-owned have the meaning give those terms in section 132(i)(2) of the Higher Education Act of 1965 (as added by section 2(a)). (c) Authorization of appropriations There is authorized to be appropriated to the Under Secretary of Commerce for Minority Business Development $3,000,000 to carry out this section.