Broker/Dealer Research Reports – Mutual Funds, ETFs, and Business Development Companies
Congress passed the Fair Access to Investment Research Act of 2017 directing the SEC to adopt a rule that would provide a comparable safe harbor for the publication of research reports on “covered investment funds” by unaffiliated broker/dealers so long as certain conditions are met. The stated purpose of the 2017 legislation and the resulting new SEC regulation, Rule 139b, is to “increase competition in the market for” and “encourage some broker/dealers to publish” research reports on the self-same covered investment funds. Read more on my client alert, Broker/Dealer Research Reports – Mutual Funds, ETFs, and Business Development Companies.