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H. Rept. 115-808 1 (2018-07-10)

handle is hein.congrecreports/crptxaisz0001 and id is 1 raw text is: AUTHENTICATED r U.S. GOVERNMENT INFORMATION 4 115TH CONGRESS REPORT 2d Session j HOUSE OF REPRESENTATIVES 115-808 IMPROVING INVESTMENT RESEARCH FOR SMALL AND EMERGING ISSUERS ACT JULY 10, 2018.-Committed to the Committee of the Whole House on the State of the Union and ordered to be printed Mr. HENSARLING, from the Committee on Financial Services, submitted the following REPORT [To accompany H.R. 6139] The Committee on Financial Services, to whom was referred the bill (H.R. 6139) to require the Securities and Exchange Commission to carry out a study to evaluate the issues affecting the provision of and reliance upon investment research into small issuers, having considered the same, report favorably thereon without amendment and recommend that the bill do pass. PURPOSE AND SUMMARY On June 19, 2018, Representative Bill Huizenga introduced H.R. 6139, the Improving Investment Research for Small and Emerging Issuers Act, which requires the U.S. Securities and Exchange Commission (SEC) to report to Congress within 180 days after en- actment on issues that affect the provision of and reliance upon in- vestment research into small issuers, including emerging growth companies (EGCs), other small issuers, such as nano-cap and microcap issuers, and companies considering initial public offerings (IPOs). Among the issues the SEC must consider are factors re- lated to the demand for such research by institutional and retail investors, cost considerations for such research, and the impact on the availability of research coverage for small issuers due to a vari- ety of market and regulatory conditions. The SEC's report must in- clude recommendations to increase the demand for, volume of, and quality of investment research into small issuers and pre-IPO com- panies. 79-006