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Clarity for Compensation Act
Legislative Progress
Momentum (last 30 days)
0
score
0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
95pct
223d open
vs 10,940 other HR bills in the 119th — cohort avg 30d
Clarity for Compensation Act This bill allows individuals who work for registered brokers to receive compensation for their services through their own personal businesses without having to register with the Securities and Exchange Commission (SEC). Specifically, the bill exempts certain personal services entities from SEC broker regulations. As background, brokers (persons engaged in the business of making securities transactions on behalf of others) must register with the SEC and become members of a self-regulatory organization (SRO). Under this bill, a personal services entity is an entity established by a registered representative to receive compensation for services from the registered representative's broker. A registered representative works for the broker (deemed an associated person of the broker) and is registered with the appropriate SRO. Under this bill, a personal services entity is not considered a broker for SEC regulatory purposes when receiving compensation from the registered representative's broker on the registered representative's behalf if the broker approves and maintains records of the payment, the personal services entity does not hold itself out as a broker or otherwise engage in broker or dealer activity, the broker exercises adequate supervision and control over the registered representative, the broker and personal services entity have a written agreement regarding their relationship and compensation arrangement, and the personal services entity is owned by the representative, the representative's family, or other similar entities. The personal services entity must maintain certain records and make them available to the SEC and the appropriate SRO upon request.
These links require the bill number to appear in the filing's source-reported specific issue text. Client expenses and lobbying-firm income are separate disclosure fields.
Filing registrants (9)
Placed on the Union Calendar, Calendar No. 691.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-791.
Congress.gov source codes: 5000, H12200
Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
Committee Consideration and Mark-up Session Held
Referred to the House Committee on Financial Services.
Introduced in House
Congress.gov source codes: 1000, Intro-H
Bills with similar content found using semantic analysis.
Sources: Congress.gov
2026 · third_quarter · Insurance
DRAFT -- Voluntary Excepted Supplemental Benefits Protection Act -- preserve employer flexibility to offer voluntary excepted-benefit products such as supplemental health coverage HR 1521 -- DOC Access Act -- prohibits insurance plans from dictating rates optometrists and dentists can charge patients for non-covered items and services HR 7187 -- Clarity for Compensation Act -- clarify compensation disclosure requirements for insurance and financial professionals to promote regulatory consistency and consumer understanding. Issue -- Proposed Rule -- SEC Regulation E-Delivery -- monitoring SEC framework for the electronic delivery of investor disclosures. HR 4735 -- Business of Insurance Regulatory Reform Act of 2025 -- affirm the enforcement authority of the Consumer Financial Protection Bureau (CFPB) over entities regulated by state insurance commissioners HR 10234 -- CLEAR Forms Act - direct SEC to established dedicated filing forms for certain registered insurance products HR 8338 -- Safeguarding Americans' Fairly Earned Retirement (SAFER) Act -- restrict state escheatment and seizure of private investment and retirement accounts HR 9471/S 4942 -- SAFE Banking Act -- federal safe harbor allowing financial institutions to serve state-legal cannabis businesses without fear of federal banking penalties.
Client expense: $380,000 · Firm income: Not reported
Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2026 · third_quarter · Financial Institutions/Investments/Securities
H.R. 1483 - Protecting Investors Personally Identifiable Information Act; entire bill H.R. 2441 - Improving Disclosures for Investors Act; entire bill H.R. 2689 - Restoring Accountability in Market Supervision (RAMS) Act; entire bill H.R. 3383 - Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025 INVEST Act of 2025 (INVEST) H.R. 3633 - CLARITY Act of 2025 (entire bill) & Senate amendments to H.R. 3633 CLARITY Act of 2025 H.R. 7187 - Clarity for Compensation Act; entire bill H.R. 8338 - Safeguarding Americans Fairly Earned Retirement Act of 2026 (SAFER); entire bill H.R. 8398 - Guidelines for Use, Access, and Responsible Disclosure of Financial Data Act (GUARD); entire bill H.R. 8413 - Securing and Establishing Consumer Uniform Rights and Enforcement over Data Act (SECURE Data) Act; entire bill H.R. 9434 - Reviewing the Expansion of Government Act of 2026 (REG Act) of 2026; entire bill H.R. 9574 - Informed Investor Access Act; entire bill S. 658 - Protecting Investors Personally Identifiable Information Act; entire bill S. 1877 - Improving Disclosures for Investors Act; entire bill S. 3671 - Increasing Investor Opportunities Act; entire bill S. 4784 - National Defense Authorization (NDAA); Section 815, Corporate capital distribution policies, including share repurchases and dividends restrictions Not Yet Introduced: issues related to Health Savings Accounts
Client expense: $340,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Financial Institutions/Investments/Securities
General interest in anti-money laundering, cybersecurity, and privacy proposals. H.R.2441/S.1877 - Improving Disclosure for Investors Act of 2025 FINRA Gift Rule FINRA OBA H.R. 7187 - Clarity for Compensation Act SEC Regulation E-Delivery
Client expense: $520,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Financial Institutions/Investments/Securities
H.R. 3383, Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act of 2025, Section 205; S. 1877/H.R. 2441, Improving Disclosure for Investors Act of 2025: H.R. 8338, the Safeguarding Americans Fairly Earned Retirement (SAFER) Act; H.R. 7187, the Clarity for Compensation Act; RIN: 3235-AN57, Electronic Delivery of Information Under the Federal Securities Laws; RIN: 3235-AL55, Transfer Agent Rules; SEC Notice 2026-14262, Filing and Immediate Effectiveness of a Proposed Rule Change To Amend FINRA Rule 1210 (Registration Requirements); RIN: 3235-AN65, Proposed Rescission of Political Contributions by Certain Investment Advisers Rule.
Client expense: $370,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES
H.R. 1777 / S. 1561 - Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act of 2025 S. 1208 - Privacy Act Modernization Act of 2025 Issues related to the regulation of nonbank financial institutions H.R. 3383 - INVEST Act H.R. 7187 - Clarity for Compensation Act Comment Letter to SEC re: E-Delivery File No. S7-2026-25 / RIN 3235-AN57 Comment Letter to Treasury re: Employer Contributions to Trump Accounts RIN1545-BS19 Joint Trades CEO Letter to Senate Banking Committee re: 403b-CIT Legislation Issues related to SEC Rule 206(4)-5
Client expense: $590,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2026 · third_quarter · Financial Institutions/Investments/Securities
Independent Contractor Status - the Modern Worker Empowerment Act (HR 1319), the Department of Labor's Rule on Independent Contractor Classification under the FLSA;SEC Regulation Best Interest; payments of commissions to ensemble practices and the Clarity for Compensation Act (HR 7187); the Financial Exploitation Prevention Act (HR 2478, S2228); the GROWTH Act (HR 2089, S 1839); regulation by enforcement; tax provisions, including extension of the Tax Cuts and Jobs Act of 2017 such as the 199A pass through deduction and restoring the tax deductibility of advisory fees.
Client expense: $328,297 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC)
2026 · third_quarter · Financial Institutions/Investments/Securities
Issues related to retirement security; Information Reporting of Certain Life Insurance Contract Transactions and Modifications to the Transfer for Valuable Consideration Rules (REG-103083-18); Issues related to H.R. 7187 - Clarity for Compensation Act.
Client expense: Not reported · Firm income: $60,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Taxation/Internal Revenue Code
Retirement security legislation. Legislation affecting independent contractor status for financial advisors. Tax issues related to retirement savings. H.R.7187 - Clarity for Compensation Act.
Client expense: Not reported · Firm income: $50,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Financial Institutions/Investments/Securities
Retirement security legislation. Legislation affecting independent contractor status for financial advisors. Tax issues related to retirement savings. H.R.7187 - Clarity for Compensation Act.
Client expense: Not reported · Firm income: $50,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Labor Issues/Antitrust/Workplace
Retirement security legislation. Legislation affecting independent contractor status for financial advisors. Tax issues related to retirement savings. H.R.7187 - Clarity for Compensation Act.
Client expense: Not reported · Firm income: $50,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Insurance
S.213 - Main Street Tax Certainty Act H.R.703 - Main Street Tax Certainty Act H.R. 1301 - Death Tax Repeal Act S. 587 - Death Tax Repeal Act of 2025 H.R. 7187 - The Clarity for Compensation Act H.R. 1 - One Big Beautiful Bill Act S.2845 - Billionaires Income Tax Act H.R.5427 - Billionaires Income Tax Act S. 4279 - Protecting Proper Life Insurance from Abuse Act
Client expense: $60,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · second_quarter · Financial Institutions/Investments/Securities
H.R. 1483 - Protecting Investors Personally Identifiable Information Act H.R. 1777 - Secure Notarization Act of 2025; entire bill H.R. 2441 - Improving Disclosures for Investors Act; entire bill H.R. 2689 - Restoring Accountability in Market Supervision (RAMS) Act; entire bill H.R. 3383 - Increasing Investor Opportunities Act; entire bill H.R. 3633 - CLARITY Act of 2025 (entire bill) & Senate amendments to H.R. 3633 CLARITY Act of 2025 H.R. 7187 - Clarity for Compensation Act; entire bill H.R. 8338 - Safeguarding Americans Fairly Earned Retirement Act of 2026 (SAFER); entire bill H.R. 8398 - Guidelines for Use, Access, and Responsible Disclosure of Financial Data Act (GUARD); entire bill H.R. 8413 - SECURE Data Act; entire bill H.R. 9434 - Reviewing the Expansion of Government Act of 2026 (REG Act) of 2026; entire bill S. 1561 - Secure Notarization Act of 2025; entire bill S. 1877 - Improving Disclosures for Investors Act; entire bill S. 4784 - National Defense Authorization (NDAA); Section 815, Corporate capital distribution policies, including share repurchases and dividends restrictions Not Yet Introduced: issues related to Health Savings Accounts Not Yet Introduced: Informed Investor Access Act (Downing); entire bill
Client expense: $280,000 · Firm income: Not reported
H.R. 1777 / S. 1561 - Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act of 2025 S. 1208 - Privacy Act Modernization Act of 2025 Issues related to Information Reporting and Transfer for Valuable Consideration Rules for Section 1035 Exchanges of Life Insurance and Certain Other Life Insurance Contract Transactions (REG-108054-21) Issues related to the regulation of nonbank financial institutions H.R. 3383 - Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act H.R. 7187 - Clarity for Compensation Act Finseca Comment Letter to DOL re: RIN 1210-AC38 Joint Trades Coalition Comment Letter to Treasury re: RIN 4030-ZA02 / FSOC Proposal on Nonbank Financial Companies
Client expense: $490,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2026 · second_quarter · Labor Issues/Antitrust/Workplace
Retirement security legislation. Legislation affecting independent contractor status for financial advisors. Tax issues related to retirement savings. H.R.7187 - Clarity for Compensation Act.
Client expense: Not reported · Firm income: $50,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · second_quarter · Financial Institutions/Investments/Securities
Retirement security legislation. Legislation affecting independent contractor status for financial advisors. Tax issues related to retirement savings. H.R.7187 - Clarity for Compensation Act.
Client expense: Not reported · Firm income: $50,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · second_quarter · Taxation/Internal Revenue Code
Retirement security legislation. Legislation affecting independent contractor status for financial advisors. Tax issues related to retirement savings. H.R.7187 - Clarity for Compensation Act.
Client expense: Not reported · Firm income: $50,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · second_quarter · Financial Institutions/Investments/Securities
Issues related to retirement security; Information Reporting of Certain Life Insurance Contract Transactions and Modifications to the Transfer for Valuable Consideration Rules (REG-103083-18); Issues related to H.R. 7187 - Clarity for Compensation Act.
Client expense: Not reported · Firm income: $60,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · second_quarter · Financial Institutions/Investments/Securities
H.R. 3383, Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act of 2025, Section 205; S. 1877/H.R. 2441, Improving Disclosure for Investors Act of 2025: H.R. 8338, the Safeguarding Americans Fairly Earned Retirement (SAFER) Act; H.R. 7187, the Clarity for Compensation Act; RIN: 3235-AN57, Electronic Delivery of Information Under the Federal Securities Laws.
Client expense: $390,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · second_quarter · Financial Institutions/Investments/Securities
Independent Contractor Status - the Modern Worker Empowerment Act (HR 1319), the Department of Labor's Rule on Independent Contractor Classification under the FLSA;SEC Regulation Best Interest; payments of commissions to ensemble practices and the Clarity for Compensation Act (HR 7187); the Financial Exploitation Prevention Act (HR 2478, S2228); the GROWTH Act (HR 2089, S 1839); regulation by enforcement; tax provisions, including extension of the Tax Cuts and Jobs Act of 2017 such as the 199A pass through deduction and restoring the tax deductibility of advisory fees.
Client expense: $320,562 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC)
2026 · second_quarter · Insurance
S.213 - Main Street Tax Certainty Act H.R.703 - Main Street Tax Certainty Act H.R. 1301 - Death Tax Repeal Act S. 587 - Death Tax Repeal Act of 2025 H.R. 7187 - The Clarity for Compensation Act H.R. 1 - One Big Beautiful Bill Act S.2845 - Billionaires Income Tax Act H.R.5427 - Billionaires Income Tax Act S. 4279 - Protecting Proper Life Insurance from Abuse Act
Client expense: $50,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
H.R. 1777: Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act of 2025 S. 1208 Privacy Act Modernization Act of 2025 Issues related to retirement security Information reporting for Certain Life Insurance Contract Transactions and Modifications to the Transfer for Valuable Consideration Rules (REG103083-18) H.R. 2696 - To establish the American Worker Retirement Plan, improve the financial security of working Americans by facilitating the accumulation of wealth, and for other purposes Issues related to the regulation of nonbank financial institutions H.R. 3383 Invest Act H.R. 7187 Clarity for Compensation - SEC Ensemble Payments / Personal Services Entities No Action Letter H. R. 6438 ROBINHOOD Act (Redistribution of Billions by Instituting New High-Income Obligations on Overlooked Debt Act) Joint Trades Request for Meeting re: SEC overreach on Fixed Indexed Annuities Coalition letter to House re: H.R. 3682 / FSOC Improvement Act Joint Trades Letter to Senate re: H.R. 2478 / S. 2840: Financial Exploitation Prevention Act of 2025
Client expense: $850,000 · Firm income: Not reported
2026 · first_quarter · Financial Institutions/Investments/Securities
Independent Contractor Status - the Modern Worker Empowerment Act (HR 1319), the Department of Labor's Rule on Independent Contractor Classification under the FLSA;SEC Regulation Best Interest; payments of commissions to ensemble practices and the Clarity for Compensation Act (HR 7187); the Financial Exploitation Prevention Act (HR 2478, S2228); the GROWTH Act (HR 2089, S 1839); regulation by enforcement; tax provisions, including extension of the Tax Cuts and Jobs Act of 2017 such as the 199A pass through deduction and restoring the tax deductibility of advisory fees.
Client expense: $320,562 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC)
2026 · first_quarter · Insurance
S.213 - Main Street Tax Certainty Act H.R.703 - Main Street Tax Certainty Act H.R. 1301 - Death Tax Repeal Act S. 587 - Death Tax Repeal Act of 2025 H.R. 7187 - The Clarity for Compensation Act H.R. 1 - One Big Beautiful Bill Act S.2845 - Billionaires Income Tax Act H.R.5427 - Billionaires Income Tax Act
Client expense: $50,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
| Republican |
| IN |
| Michael Lawler | Republican | NY |
| Monica De La Cruz | Republican | TX |
| Nathaniel Moran | Republican | TX |
| Sarah McBride | Democratic | DE |
| Tim Moore | Republican | NC |
| Timothy M. Kennedy | Democratic | NY |
| William R. Timmons IV | Republican | SC |
| Young Kim | Republican | CA |
Government targets: HOUSE OF REPRESENTATIVES, SENATE
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of