US SB2992 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 6-0)
Status: Introduced on December 5 2019 - 25% progression, died in committee
Action: 2019-12-05 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on December 5 2019 - 25% progression, died in committee
Action: 2019-12-05 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Prohibits broker-dealers and investment advisers from including mandatory arbitration, forum selection restrictions, or bans on class action suits in a customer or client agreement. Issuers of securities are also prohibited from mandating arbitration in a shareholder agreement.
Title
Investor Choice Act of 2019
Sponsors
Sen. Jeff Merkley [D-OR] | Sen. Richard Durbin [D-IL] | Sen. Richard Blumenthal [D-CT] | Sen. Elizabeth Warren [D-MA] |
Sen. Robert Menendez [D-NJ] | Sen. Sheldon Whitehouse [D-RI] |
History
Date | Chamber | Action |
---|---|---|
2019-12-05 | Senate | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
Same As/Similar To
HB5336 (Related) 2019-12-06 - Referred to the House Committee on Financial Services.
Subjects
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/2992/all-info |
Text | https://www.congress.gov/116/bills/s2992/BILLS-116s2992is.pdf |