Broker-Dealers Get House Nod for Temporary Relief on Research

Broker-dealers would be allowed temporarily to continue bundling their trading and research services without having to meet European Union rules to register as investment advisers, under legislation the House passed Tuesday.

The bipartisan voice vote for H.R. 2622 would extend the Securities and Exchange Commission’s “no action” relief, allowing brokerages to be exempted from certain regulations as investment advisers for six more months. The bill would also require the SEC to conduct a study examining the impact of allowing the relief to expire, and the challenges faced by minority and women-owned small issuers in obtaining research coverage under ...