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Investor Choice Act of 2019
10/28/2022, 1:46 AM
Congressional Summary of S 2992
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.
Read the Full Bill
Current Status of Bill S 2992
Bill S 2992 is currently in the status of Bill Introduced since December 5, 2019. Bill S 2992 was introduced during Congress 116 and was introduced to the Senate on December 5, 2019. Bill S 2992's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of December 5, 2019
Bipartisan Support of Bill S 2992
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
5Democrat Cosponsors
5Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 2992
Primary Policy Focus
Finance and Financial SectorPotential Impact Areas
- Alternative dispute resolution, mediation, arbitration
- Civil actions and liability
- Financial services and investments
- Securities
Alternate Title(s) of Bill S 2992
Investor Choice Act of 2019
Investor Choice Act of 2019
A bill to amend the Securities Exchange Act of 1934 to prohibit mandatory pre-dispute arbitration agreements, and for other purposes.
Comments
Sponsors and Cosponsors of S 2992
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