US HB8188 | 2019-2020 | 116th Congress

US Congress House Bill 8188 (Prior Session Legislation)

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on September 8 2020 - 25% progression, died in committee
Action: 2020-09-08 - Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Specifies burden-of-proof and complaint requirements with respect to certain actions for breach of fiduciary duty against an investment adviser. Specifically, complaints must state certain facts with particularity, and a security holder has the burden of proving a breach of fiduciary duty by clear and convincing evidence.

Title

Mutual Fund Litigation Reform Act

History

Date	Chamber	Action
2020-09-08	House	Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2020-09-08	House	Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2020-09-08	House	Introduced in House