H.R. 1098 · 114th Congress
Investor Choice Act of 2015
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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EllisonSponsor24 cosponsors · 24 D
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Serrano17 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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…
What it does: CRS summary · Introduced in House · Feb 26, 2015
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Investor Choice Act of 2015
Latest action (Feb 26, 2015): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Feb 26, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.