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The House vote 261 to 145 appoves the Investment Advisers Modernization Act of 2016
CHICAGO, September 9, 2016 – The following is a statement from Gary A. LaBranche, President & CEO for the Association for Corporate Growth, the global organization representing 90,000 dealmaking professionals who drive middle-market growth and create jobs across the country, regarding the U.S. House of Representatives' bipartisan approval to advance H.R. 5424, the Investment Advisers Modernization Act of 2016.
"This is a welcome step for midsize private capital providers who help bolster the U.S. economy by investing in small and midsize American businesses that employ more than 15 million Americans. The bill’s thoughtful and modest reforms that maintain important investor protections while modernizing the regulatory framework for advisers.
On behalf of the 90,000 middle-market professionals who helped to invest $369 billion in the middle market last year, we applaud members of the U.S. House of Representatives for passage of this critical legislation and look forward to working with members of the Senate on a companion bill that will be signed by the President."
For more information about ACG, please visit www.acg.org.
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Contact: Amber Landis, Vice President, Public Policy
Telephone: 312-957-4272
Mobile: 231-740-5194
Email: alandis@acg.org
About Association for Corporate Growth
Founded in 1954, ACG has 59 chapters across the globe. ACG’s worldwide network comprises 90,000 professionals within the middle market, including 14,500 members who serve as the investors, lenders, owners, executives and advisers to growing middle-market companies. ACG’s mission is to drive middle-market growth.
Sep 09 2016