Code · BILL · 117th Congress · H.R. 7594 (Introduced in House) — To improve access for diverse-owned asset management firms, and for other purposes. · Sec. 2

Sec. 2. Purpose

81 words·~1 min read·/bill/117/hr/7594/ih/section-2

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The purpose of this Act is to improve access for diverse-owned, including women- and minority-owned, asset management firms by— increasing transparency regarding the asset management firm selection processes of Federal institutional investors; identifying common and potential barriers that limit business opportunities for diverse-owned asset management firms and developing strategies to remove these barriers; and enabling both public and private retirement funds to adopt broader and more inclusive selection processes to reduce systemic risk and maximize returns, consistent with administrators’ fiduciary responsibilities.