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Investor Choice Act of 2019

10/28/2022, 1:46 AM

Congressional Summary of HR 5336

Investor Choice Act of 2019

This bill 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.

Current Status of Bill HR 5336

Bill HR 5336 is currently in the status of Bill Introduced since December 6, 2019. Bill HR 5336 was introduced during Congress 116 and was introduced to the House on December 6, 2019.  Bill HR 5336's most recent activity was Referred to the House Committee on Financial Services. as of December 6, 2019

Bipartisan Support of Bill HR 5336

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
10
Democrat Cosponsors
10
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 5336

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Alternative dispute resolution, mediation, arbitration
- Civil actions and liability
- Consumer affairs
- Financial services and investments
- Securities

Alternate Title(s) of Bill HR 5336

Investor Choice Act of 2019
To amend the Securities Exchange Act of 1934 to prohibit mandatory predispute arbitration agreements, and for other purposes.
Investor Choice Act of 2019

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