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H.R. 3857 115th Congress House

PASS Act of 2017

Official title: To amend the Securities Exchange Act of 1934 to establish standards of conduct for brokers and dealers that are in the best interest of their retail customers.

Introduced: September 27, 2017 Introduced by: Ann Wagner Republican · Missouri See on congress.gov
Finance and Financial Sector Administrative law and regulatory proceduresCongressional oversightDepartment of LaborEmployee benefits and pensions
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Financial services and investmentsSales and excise taxesSecuritiesSecurities and Exchange Commission (SEC)
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This bill died when the 115th Congress ended
It never became law before the 115th Congress (2017–2018) 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 14 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 28, 2018
Placed on the Union Calendar, Calendar No. 865.
Dec 28, 2018
Committee on Education and the Workforce discharged.
Dec 28, 2018
Committee on Ways and Means discharged.
Nov 16, 2018
House Committee on Education and the Workforce Granted an extension for further consideration ending not later than Dec. 28, 2018.
Nov 16, 2018
House Committee on Ways and Means Granted an extension for further consideration ending not later than Dec. 28, 2018.
Aug 10, 2018
House Committee on Education and the Workforce Granted an extension for further consideration ending not later than Nov. 16, 2018.
Aug 10, 2018
House Committee on Ways and Means Granted an extension for further consideration ending not later than Nov. 16, 2018.
Aug 10, 2018
Reported by the Committee on Financial Services. H. Rept. 115-894, Part I.
Oct 12, 2017
Ordered to be Reported by the Yeas and Nays: 34 - 26.
Oct 12, 2017
Committee Consideration and Mark-up Session Held.
Oct 11, 2017
Committee Consideration and Mark-up Session Held.
Sep 27, 2017
Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, and 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.
Sep 27, 2017
Introduced in House
Jul 13, 2017
Hearings Held by the Subcommittee on Capital Markets Prior to Introduction and Referral.
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 Latest action December 28, 2018

Placed on the Union Calendar, Calendar No. 865.

 Plain-English summary Congressional Research Service

Protecting Advice for Small Savers Act of 2017 or the PASS Act of 2017

This bill nullifies the Department of Labor's "fiduciary duty" rule (which requires a retirement advisor to act in the best interest of the investor) and otherwise revises standards of conduct for brokers and dealers.

 Bill text 2 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 4
 Cosponsors 15
All 15 Republican 7
R
Sessions, Pete
Texas · Jun 28, 2018
McSally, Martha
· Nov 9, 2017
Rothfus, Keith
· Nov 9, 2017
Hultgren, Randy
· Oct 12, 2017
 R
Tenney, Claudia
New York · Oct 12, 2017
 R
Hill, J. French
Arkansas · Oct 2, 2017
Luetkemeyer, Blaine
· Oct 2, 2017
 R
Barr, Andy
Kentucky · Sep 27, 2017
 R
Budd, Ted
North Carolina · Sep 27, 2017
Hollingsworth, Trey
· Sep 27, 2017
 R
Kustoff, David
Tennessee · Sep 27, 2017
Messer, Luke
· Sep 27, 2017
Posey, Bill
· Sep 27, 2017
Trott, David
· Sep 27, 2017
 R
Williams, Roger
Texas · Sep 27, 2017
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3857: PASS Act of 2017. 115th Congress. Open America. https://openamerica.io/bill/115-HR-3857/
MLA
"H.R. 3857: PASS Act of 2017." 115th Congress, 2026, Open America, https://openamerica.io/bill/115-HR-3857/.
Bluebook (legal)
H.R. 3857, 115th Cong. (2026), https://openamerica.io/bill/115-HR-3857/.
Markdown link
[H.R. 3857: PASS Act of 2017](https://openamerica.io/bill/115-HR-3857/)
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