Increasing Access to Adviser Information Act

This bill extends a temporary exemption (until July 2023) for investment advisers from certain MiFID II compliance rules, which had been granted without full cost-benefit analysis. It requires the Securities and Exchange Commission to conduct a study on how ending this exemption would affect research availability for small businesses - including minority-, women-, and veteran-owned issuers - and impacts on investors, advisers, and broker-dealers. The study must evaluate market competition, costs, and regulatory options to maintain research coverage. The SEC must submit a report to Congress within 18 months detailing findings on these impacts. The bill directly affects over 15,000 registered investment advisers and the research market for smaller companies.