US Congress House Bill 1098 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 25-0)
Status: Introduced on February 26 2015 - 25% progression, died in committee
Action: 2015-02-26 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Investor Choice Act of 2015 Amends the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940 to revise the authority of the Securities and Exchange Commission to prohibit, or impose conditions or limitations on the use of, agreements that require customers or clients of any broker, dealer, or municipal securities dealer to arbitrate any future dispute between them arising under the federal securities laws, related rules and regulations, or the rules of a self-regulatory organization if it finds that prohibition, imposition of conditions, or limitations are in the public interest and for the protection of investors. Declares unlawful for a broker, dealer, funding portal, or municipal securities dealer (entities) to enter into, modify, or extend an agreement with customers or clients governing a future dispute between the parties that would mandate arbitration. Declares likewise unlawful acts by such entities that would restrict, limit, or condition the ability of a customer or client to: (1) select or designate a forum for dispute resolution, or (2) pursue a claim relating to a dispute in an individual or representative capacity or on a class action or consolidated basis.

Investor Choice Act of 2015

Rep. Keith Ellison [D-MN]	Rep. Suzanne Bonamici [D-OR]	Rep. Michael Capuano [D-MA]	Rep. Matthew Cartwright [D-PA]
Rep. David Cicilline [D-RI]	Rep. Peter DeFazio [D-OR]	Rep. Lois Frankel [D-FL]	Rep. Raul Grijalva [D-AZ]
Rep. Denny Heck [D-WA]	Rep. Ruben Hinojosa [D-TX]	Rep. Barbara Lee [D-CA]	Rep. Stephen Lynch [D-MA]
Rep. Gregory Meeks [D-NY]	Rep. James McGovern [D-MA]	Rep. Janice Schakowsky [D-IL]	Rep. Eric Swalwell [D-CA]
Rep. Paul Tonko [D-NY]	Rep. Niki Tsongas [D-MA]	Rep. Steve Cohen [D-TN]	Rep. Betty McCollum [D-MN]
Rep. Andre Carson [D-IN]	Rep. Mark Pocan [D-WI]	Rep. John Conyers [D-MI]	Rep. Louise Slaughter [D-NY]
Rep. Jose Serrano [D-NY]

Date	Chamber	Action
2015-02-26	House	Referred to the House Committee on Financial Services.
2015-02-26	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/1098/all-info
Text	https://www.congress.gov/114/bills/hr1098/BILLS-114hr1098ih.pdf