Blocks the SEC from creating certain new rules for financial advisors.
This bill would stop the Securities and Exchange Commission (SEC) from making certain new rules that could affect financial advisors and how they deal with investors. It would remove the SEC's power to restrict mandatory arbitration agreements, set new standards for financial advisors' duties, or create a general standard of conduct. This means investors would not get these potential new protections, while financial firms would avoid these potential regulations.
Today, the Securities and Exchange Commission (SEC) has the power to restrict mandatory arbitration. It can also examine and create rules for gaps in fiduciary duties, and set a standard of conduct for financial professionals. If this bill becomes law, the SEC would lose these specific powers. This means the SEC would not be able to put these potential investor protections in place.
HR 3484 · 119th Congress · AI Summary by gemini-2.5-flash · 10/10
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3 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.