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Clarity for Compensation Act: Simplifying Pay for Financial Representatives

This bill allows financial advisors to receive their pay through personal service companies without those companies being treated as separate brokerage firms. It simplifies business management for advisors while ensuring they remain under strict regulatory oversight.
Key points
Financial advisors can use personal companies to receive their commissions and fees.
These personal companies are exempt from complex and costly broker registration rules.
Main brokerage firms must continue to supervise all activities of the representative.
Strict record-keeping is required to allow for transparency and government audits.
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Status: Introduced
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Additional Information
Print number: 119_HR_7187
Sponsor: Rep. Nunn, Zachary [R-IA-3]
Process start date: 2026-01-21
System Note: Lustra is free, publicly auditable civic infrastructure — full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source—always verify them if you can.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Clarity for Compensation Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_7187.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2026-01-21.

What are the main provisions?

Key points include:

  • Financial advisors can use personal companies to receive their commissions and fees.
  • These personal companies are exempt from complex and costly broker registration rules.
  • Main brokerage firms must continue to supervise all activities of the representative.
  • Strict record-keeping is required to allow for transparency and government audits.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Nunn, Zachary [R-IA-3].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-02-13.

What is the impact of this bill?

We don't know—that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy