Political Quotes

“Mr. Speaker, I yield myself such time as I may consume. Today I rise in support of H.R. 910, the Fair Access to Investment Research Act, which I have had the pleasure of working on with my friend from Illinois (Mr. Foster) in this Congress and now-Governor Carney in the last Congress. Mr. Foster, I had the pleasure to speak with Governor Carney this weekend and tell him of our great collaboration in this Congress, and he sends his warmest regards for the process. This bill, Mr. Speaker, is a commonsense, bipartisan, bicameral effort to increase access to research and information on exchange- traded funds, or ETFs, an important and rapidly growing investment vehicle in the United States and around the world. Before coming to Congress, I worked in the banking and investment industry for nearly three decades, and I have witnessed firsthand the explosive growth in the ETF industry. Since I started my latest firm in the late 1990s, I have seen the exchange-traded fund selection grow from about 100 funds with about $100 billion in total assets to today's 2,000 funds with about $2.4 trillion in investment assets. However, despite this rapid growth in the popularity in the ETF market and their increasing importance to retail investors, most broker-dealers do not publish research on ETFs due to anomalies in our securities laws and regulations.…”