Protecting Retail Investors’ Savings Act
1/10/2024, 12:56 AMSummary of Bill HR 4600
Bill 118 hr 4600, also known as the Protecting Retail Investors' Savings Act, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to enhance protections for individual investors who may be at risk of financial exploitation or fraud.The bill includes several key provisions aimed at achieving this goal. One of the main provisions is the requirement for financial institutions to establish and maintain policies and procedures to detect and prevent financial exploitation of retail investors. This would help ensure that individuals are not taken advantage of by unscrupulous actors in the financial industry.
Additionally, the bill calls for increased coordination between federal and state regulators in order to better protect retail investors. This would help to streamline efforts to investigate and prosecute cases of financial fraud, ultimately leading to better outcomes for those affected. Furthermore, the bill includes provisions to enhance transparency and accountability in the financial industry, such as requiring financial institutions to provide clear and accurate information to investors about the risks and potential returns of their investments. Overall, the Protecting Retail Investors' Savings Act aims to strengthen protections for individual investors and improve oversight of the financial industry to prevent exploitation and fraud. It is currently being debated in Congress and may undergo further revisions before potentially becoming law.
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Current Status of Bill HR 4600
Bill HR 4600 is currently in the status of Bill Introduced since July 13, 2023. Bill HR 4600 was introduced during Congress 118 and was introduced to the House on July 13, 2023. Bill HR 4600's most recent activity was Referred to the House Committee on Financial Services. as of July 13, 2023Bipartisan Support of Bill HR 4600
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 4600
Primary Policy Focus
Finance and Financial SectorAlternate Title(s) of Bill HR 4600
Protecting Retail Investors’ Savings ActProtecting Retail Investors’ Savings ActTo amend the Investment Advisers Act of 1940 to specify requirements concerning the consideration of pecuniary and non-pecuniary factors, to require the Securities and Exchange Commission to conduct a study on climate change and other environmental disclosures in the municipal bond market, and to require the Securities and Exchange Commission to conduct a study on the solicitation of municipal securities business.Comments
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Sponsors and Cosponsors of HR 4600
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