Political Quotes

“Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I am pleased that the House is considering S. 327 today, the Fair Access to Investment Research Act. This is the Senate companion to my bill, H.R. 910, that I had the pleasure of working on with my friend from Illinois (Mr. Foster) in this Congress and our colleague in the last Congress, now Governor Carney of Delaware. Mr. Speaker, occasionally on this floor, we don't compliment our colleagues in the upper Chamber at the other end of the building, but we have to say today ``thank you'' to Senator Crapo and Senator Brown for advancing a number of securities-related bills in the last few days which we appreciate seeing coming back to the House, including S. 327. {time} 1630 This bill contains the same language as H.R. 910, which passed the House in May with overwhelming bipartisan support by a vote of 405-2. S. 327 also includes some Senate amendments that add some additional clarifications to the bill: First, it clarifies the conflict of interest provision by precluding dealers from issuing research on affiliated exchange-traded funds. Second, it carves out closed-end funds, including business development companies. Finally, it includes a specific definition of ``affiliated person,'' which matches the definition of an ``affiliated person'' in section 2(a) of the Investment Company Act of 1940. Since starting an investment firm back in the late 1990s, I have watched exchange-traded funds grow amazingly.…”