To amend the Investment Advisers Act of 1940 to codify certain Securities and Exchange Commission no-action letters that exclude brokers and dealers compensated for certain research services from the definition of investment adviser, and for other purposes.

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Motion to reconsider laid on the table Agreed to without objection.

On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3184)

Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3184)

DEBATE - The House proceeded with forty minutes of debate on H.R. 2622.

Considered under suspension of the rules. (consideration: CR H3184-3185)

Mrs. Wagner moved to suspend the rules and pass the bill, as amended.

Placed on the Union Calendar, Calendar No. 105.

Reported (Amended) by the Committee on Financial Services. H. Rept. 118-134.

Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 45 - 2.

Committee Consideration and Mark-up Session Held

Referred to the House Committee on Financial Services.

Introduced in House