Vote Explanations for H.R. 2357 & H.R. 5424

The House passed the Accelerating Access to Capital Act (H.R. 2357) and the Investment Advisers Modernization Act (H.R. 5424). Both of these financial services bill would weaken investor protections and reduce important reporting requirements to the government.

Under these bills, hedge funds and private equity firms would have reduced reporting requirements, leaving investors in the dark when it comes to important disclosures such as conflicts of interest and changes of ownership, among others. We need to encourage transparency and give investors and the public the tools they need to make well-informed decisions.

I voted against both bills and the President indicated he would veto the bills should it reach his desk.