118th Congress Finance and Financial Sector
H.J.Res. 119: Disapproval of Securities and Exchange Commission rule: Private Fund Advisers; Documentation of Registered Investment Adviser Compliance Reviews
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Private Fund Advisers; Documentation of Registered Investment Adviser Compliance Reviews".
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This joint resolution nullifies the final rule issued by the Securities and Exchange Commission (SEC) titled Private Fund Advisers; Documentation of Registered Investment Adviser Compliance Reviews and published on September 14, 2023. The rule requires SEC-registered advisers to private funds to disclose information to investors regarding compensation, sales practices, and conflicts of interest. It also requires SEC-registered advisers to give investors independent fairness opinions and valuation opinions when initiating certain private fund transactions.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- J. Hill R-AROriginal
- Daniel Meuser R-PAOriginal
- Andrew Ogles R-TNOriginal
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Other bills by Alexander Mooney
History
- Introduced in the House by Alexander Mooney.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Financial Services.