Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Private Fund Advisers; Documentation of Registered Investment Adviser Compliance Reviews".

HJRES 119 is a joint resolution seeking congressional disapproval of a specific Securities and Exchange Commission (SEC) rule. The rule, published in September 2023, required registered investment advisers managing private funds to document their internal compliance reviews. This resolution would block the SEC rule from taking effect by invoking a federal process that allows Congress to reject agency rules. If approved, the rule would be invalidated, directly affecting private fund advisers and their compliance documentation requirements.