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HR 1090 114th Congress House Finance and Financial Sector Administrative law and regulatory procedures Banking and financial institutions regulation Congressional oversight Department of Labor Employee benefits and pensions Financial services and investments Government information and archives Securities and Exchange Commission (SEC)

Retail Investor Protection Act

Introduced: October 7, 2015 Introduced by: Wagner, Ann Republican · Missouri See on congress.gov
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 19 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 28, 2015
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Oct 27, 2015
Considered under the provisions of rule H. Res. 491. (consideration: CR H7231-7243)
Oct 27, 2015
Rule H. Res. 491 passed House.
Oct 27, 2015
Motion to reconsider laid on the table Agreed to without objection.
Oct 27, 2015
On passage Passed by the Yeas and Nays: 245 - 186 (Roll no. 575). (text: CR H7231)
Oct 27, 2015
DEBATE - Pursuant to the provisions of H. Res. 491, the House proceeded with 10 minutes of debate on the Lynch amendment no. 1.
Oct 27, 2015
DEBATE - The House proceeded with one hour of debate on H.R. 1090.
Oct 27, 2015
Rule provides for consideration of H.R. 1090 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments. An amendment in the nature of a substitute consisting of the text of Rules Committee Print 114-31 shall be considered as adopted. The further amendment printed in the report accompanying the resolution shall be considered as read, shall be debatable for 10 minutes, and shall not be subject to a demand for division of the question.
Oct 26, 2015
Rules Committee Resolution H. Res. 491 Reported to House. Rule provides for consideration of H.R. 1090 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments. An amendment in the nature of a substitute consisting of the text of Rules Committee Print 114-31 shall be considered as adopted. The further amendment printed in the report accompanying the resolution shall be considered as read, shall be debatable for 10 minutes, and shall not be subject to a demand for division of the question.
Oct 22, 2015
Placed on the Union Calendar, Calendar No. 230.
Oct 22, 2015
Committee on Education and the Workforce discharged.
Oct 22, 2015
Reported by the Committee on Financial Services. H. Rept. 114-304, Part I.
Sep 30, 2015
Ordered to be Reported by the Yeas and Nays: 34 - 25.
Sep 30, 2015
Committee Consideration and Mark-up Session Held.
Sep 10, 2015
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Sep 10, 2015
Hearings Held by the Subcommittee on Oversight and Investigations Prior to Referral.
Apr 29, 2015
Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Feb 25, 2015
Introduced in House
Feb 25, 2015
Referred to the Committee on Financial Services, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
Oct 27, 2015 House · vote #575 On Passage Passed 245–186 See who voted →
 Amendments to this bill 2

Amendments propose changes to this bill. Members vote on amendments separately before the final bill vote. An agreed amendment becomes part of the bill; a failed amendment does not.

1 failed 1 pending / other

AmendmentSponsorPurposeStatusLatest action
HAMDT 732 Lynch, Stephen F. Amendment sought to allow the Department of Labor to complete and adopt a rule to require that investment adv… Failed Oct 27, 2015
HAMDT 731 — Amendment in the nature of a substitute. Pending —
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 Plain-English summary Congressional Research Service

(This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.)

Retail Investor Protection Act

(Sec. 2) Prohibits the Secretary of Labor from prescribing any regulation under the Employee Retirement Income Security Act of 1974 (ERISA) defining the circumstances under which an individual is considered a fiduciary until 60 days after the Securities and Exchange Commission (SEC) issues a final rule governing standards of conduct for brokers and dealers under specified law.

(Sec. 3) Amends the Securities Exchange Act of 1934 to prohibit the SEC from promulgating a rule establishing an investment advisor standard of conduct as the standard of conduct of brokers and dealers before it reports to certain congressional committees whether:

  • retail investors and other customers are being harmed due to brokers or dealers operating under different standards of conduct than those applicable to investment advisors under the Investment Advisers Act of 1940;
  • alternative remedies will reduce any confusion or harm to retail investors due to brokers or dealers operating under such different standards of conduct;
  • adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact their commissions and the availability of proprietary products offered by brokers and dealers, as well as the ability of brokers and dealers to engage in principal transactions with customers; and
  • adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact retail investor access to personalized, cost-effective investment advice and recommendations.

Requires the SEC: (1) to publish in the Federal Register formal findings that such rule would reduce retail customer confusion or harm due to standards of conduct applicable to brokers, dealers, and investment advisors; and (2) in proposing rules to consider the differences in the registration, supervision, and examination requirements applicable to brokers, dealers, and investment advisors.

What's happening now October 28, 2015

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Related & companion bills 3
  • HRES 491 Procedurally related Providing for consideration of the bill (H.R. 1090) to amend the Securities Exchange Act of 1934 to provide protections…
  • S 2497 Related bill Retail Investor Protection Act of 2016
  • HR 5983 Related bill Financial CHOICE Act of 2016
 Bill text 4 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 6
 Cosponsors 13
All 13 Republican 7
Duffy, Sean
· Oct 22, 2015
FRELINGHUYSEN, RODNEY
· Oct 22, 2015
Pittenger, Robert
· Oct 22, 2015
Abraham, Ralph
· Oct 7, 2015
 R
Hudson, Richard
North Carolina · Oct 7, 2015
Walters, Mimi
· Oct 7, 2015
 R
Emmer, Tom
Minnesota · Sep 29, 2015
 R
Williams, Roger
Texas · May 13, 2015
 R
Barr, Andy
Kentucky · Apr 27, 2015
 R
Hill, J. French
Arkansas · Mar 16, 2015
 R
Huizenga, Bill
Michigan · Mar 16, 2015
 R
Lucas, Frank D.
Oklahoma · Mar 16, 2015
Poliquin, Bruce
· Mar 16, 2015
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1090: Retail Investor Protection Act. 114th Congress. Open America. https://openamerica.io/bill/114-HR-1090/
MLA
"H.R. 1090: Retail Investor Protection Act." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-1090/.
Bluebook (legal)
H.R. 1090, 114th Cong. (2026), https://openamerica.io/bill/114-HR-1090/.
Markdown link
[H.R. 1090: Retail Investor Protection Act](https://openamerica.io/bill/114-HR-1090/)
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