119th Congress · introduced in the House · Jan 21, 2026
Clarity for Compensation Act
Official title from Congress.gov
Latest action (Sep 1, 2026): Placed on the Union Calendar, Calendar No. 691.
View on Congress.govPolicy area: Finance and Financial Sector
Congressional Research Service summary, version: Introduced in House (Jan 21, 2026)
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,
Show the full summary (5 more paragraphs)Includes amendment, cloture, and procedural votes. Each is labeled with its exact question; only a passage question is a vote to pass the bill.
No recorded roll calls on this bill in coverage.
Placed on the Union Calendar, Calendar No. 691.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-791.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-791.
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
Introduced in House
Actions from Congress.gov, newest first.
Corporate finance and management · Financial services and investments · Licensing and registrations · Securities · Wages and earnings
LD-2 reports whose issue descriptions explicitly cite this bill (bill type and number validated against Congress.gov records). A citation does not establish the client's position or any contact with a member.
Loading lobbying reportsCoverage: reports for 2025 onward, posted Jan 1, 2025 through Oct 23, 2026.
22 citations.
PACIFIC LIFE INSURANCE COMPANY · lobbying firm or registrant: PACIFIC LIFE INSURANCE COMPANY
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Insurance
$380,000
Spent on own lobbying
…ge 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…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERIPRISE FINANCIAL, INC. · lobbying firm or registrant: AMERIPRISE FINANCIAL, INC.
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$340,000
Spent on own lobbying
…gh 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…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
LPL FINANCIAL · lobbying firm or registrant: LPL FINANCIAL
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$520,000
Spent on own lobbying
…rest 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
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
PRIMERICA LIFE INSURANCE COMPANY · lobbying firm or registrant: PRIMERICA LIFE INSURANCE COMPANY
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$370,000
Spent on own lobbying
…25, 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;…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FINSECA · lobbying firm or registrant: FINSECA
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$590,000
Spent on own lobbying
…arization 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 t…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FINANCIAL SERVICES INSTITUTE · lobbying firm or registrant: FINANCIAL SERVICES INSTITUTE
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$328,297
Spent on own lobbying
…dent 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…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FINSECA · lobbying firm or registrant: TIBER CREEK GROUP
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$60,000
Paid to lobbying firm
…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.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FINANCIAL SERVICES INSTITUTE · lobbying firm or registrant: THORN RUN PARTNERS
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 19, 2026 · issue area: Labor Issues/Antitrust/Workplace
$50,000
Paid to lobbying firm
Retirement security legislation. Legislation affecting independent contractor status for financial advisors. Tax issues related to retirement savings. H.R.7187 - Clarity for Compensation Act.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FINANCIAL SERVICES INSTITUTE · lobbying firm or registrant: THORN RUN PARTNERS
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 19, 2026 · issue area: Taxation/Internal Revenue Code
$50,000
Paid to lobbying firm
Retirement security legislation. Legislation affecting independent contractor status for financial advisors. Tax issues related to retirement savings. H.R.7187 - Clarity for Compensation Act.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FINANCIAL SERVICES INSTITUTE · lobbying firm or registrant: THORN RUN PARTNERS
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 19, 2026 · issue area: Financial Institutions/Investments/Securities
$50,000
Paid to lobbying firm
Retirement security legislation. Legislation affecting independent contractor status for financial advisors. Tax issues related to retirement savings. H.R.7187 - Clarity for Compensation Act.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
M FINANCIAL · lobbying firm or registrant: M FINANCIAL
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 1, 2026 · issue area: Insurance
$60,000
Spent on own lobbying
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 - Pr…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERIPRISE FINANCIAL, INC. · lobbying firm or registrant: AMERIPRISE FINANCIAL, INC.
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Financial Institutions/Investments/Securities
$280,000
Spent on own lobbying
…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…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FINSECA · lobbying firm or registrant: FINSECA
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Financial Institutions/Investments/Securities
$490,000
Spent on own lobbying
…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 Propo…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FINANCIAL SERVICES INSTITUTE · lobbying firm or registrant: THORN RUN PARTNERS
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Financial Institutions/Investments/Securities
$50,000
Paid to lobbying firm
Retirement security legislation. Legislation affecting independent contractor status for financial advisors. Tax issues related to retirement savings. H.R.7187 - Clarity for Compensation Act.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FINANCIAL SERVICES INSTITUTE · lobbying firm or registrant: THORN RUN PARTNERS
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Labor Issues/Antitrust/Workplace
$50,000
Paid to lobbying firm
Retirement security legislation. Legislation affecting independent contractor status for financial advisors. Tax issues related to retirement savings. H.R.7187 - Clarity for Compensation Act.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FINANCIAL SERVICES INSTITUTE · lobbying firm or registrant: THORN RUN PARTNERS
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Taxation/Internal Revenue Code
$50,000
Paid to lobbying firm
Retirement security legislation. Legislation affecting independent contractor status for financial advisors. Tax issues related to retirement savings. H.R.7187 - Clarity for Compensation Act.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FINSECA · lobbying firm or registrant: TIBER CREEK GROUP
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 19, 2026 · issue area: Financial Institutions/Investments/Securities
$60,000
Paid to lobbying firm
…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.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
PRIMERICA LIFE INSURANCE COMPANY · lobbying firm or registrant: PRIMERICA LIFE INSURANCE COMPANY
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 18, 2026 · issue area: Financial Institutions/Investments/Securities
$390,000
Spent on own lobbying
…25, 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.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FINANCIAL SERVICES INSTITUTE · lobbying firm or registrant: FINANCIAL SERVICES INSTITUTE
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 17, 2026 · issue area: Financial Institutions/Investments/Securities
$320,562
Spent on own lobbying
…dent 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…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
M FINANCIAL · lobbying firm or registrant: M FINANCIAL
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 1, 2026 · issue area: Insurance
$50,000
Spent on own lobbying
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 - Pr…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
FINANCIAL SERVICES INSTITUTE · lobbying firm or registrant: FINANCIAL SERVICES INSTITUTE
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 14, 2026 · issue area: Financial Institutions/Investments/Securities
$320,562
Spent on own lobbying
…dent 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…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
M FINANCIAL · lobbying firm or registrant: M FINANCIAL
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 2, 2026 · issue area: Insurance
$50,000
Spent on own lobbying
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
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing