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Investor Justice Act of 2022

12/30/2022, 12:18 AM

Summary of Bill HR 7923

Bill 117 HR 7923, also known as the Investor Justice Act of 2022, aims to protect investors and promote transparency in the financial markets. The bill was introduced in the US Congress with the goal of addressing issues related to fraud, manipulation, and misconduct in the investment industry.

One of the key provisions of the bill is the establishment of a new regulatory body, the Investor Protection Bureau, which would be responsible for overseeing and enforcing regulations to protect investors from fraudulent practices. The bureau would have the authority to investigate and prosecute individuals and firms engaged in misconduct, as well as to provide resources and support to victims of investment fraud.

Additionally, the bill includes measures to increase transparency in the financial markets, such as requiring investment firms to disclose conflicts of interest and fees to their clients. It also aims to improve investor education and awareness by mandating the development of educational materials and resources for investors. Overall, the Investor Justice Act of 2022 seeks to strengthen investor protections, promote fairness and integrity in the financial markets, and hold bad actors accountable for their actions. It represents a significant step towards ensuring that investors are able to make informed decisions and trust in the integrity of the investment industry.

Congressional Summary of HR 7923

Investor Justice Act of 2022

This bill establishes grants for investor advocacy clinics. To qualify, clinics associated with a law school or a tax-exempt organization must provide free legal representation to investors with securities arbitration and mediation claims pending before a registered national securities association.

Current Status of Bill HR 7923

Bill HR 7923 is currently in the status of Bill Introduced since May 31, 2022. Bill HR 7923 was introduced during Congress 117 and was introduced to the House on May 31, 2022.  Bill HR 7923's most recent activity was Referred to the House Committee on Financial Services. as of May 31, 2022

Bipartisan Support of Bill HR 7923

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
2
Democrat Cosponsors
2
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 7923

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill HR 7923

Investor Justice Act of 2022
Investor Justice Act of 2022
To amend the Securities Exchange Act of 1934 to establish a grant program to fund qualified investor advocacy clinics, and for other purposes.

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