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HR 1815 116th Congress House

SEC Disclosure Effectiveness Testing Act

Official title: To require the Securities and Exchange Commission, when developing rules and regulations about disclosures to retail investors, to conduct investor testing, in… Show full official titleShow less

Official title: To require the Securities and Exchange Commission, when developing rules and regulations about disclosures to retail investors, to conduct investor testing, including a survey and interviews of retail investors, and for other purposes.

Introduced: March 18, 2019 Introduced by: Casten, Sean Democratic · Illinois See on congress.gov
Finance and Financial Sector Administrative law and regulatory proceduresCongressional oversightFinancial services and investmentsGovernment studies and investigations
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SecuritiesSecurities and Exchange Commission (SEC)
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) 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 28 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 21, 2019
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Oct 17, 2019
The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 1815.
Oct 17, 2019
Motion to reconsider laid on the table Agreed to without objection.
Oct 17, 2019
On passage Passed by the Yeas and Nays: 229 - 186 (Roll no. 564).
Oct 17, 2019
The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union.
Oct 17, 2019
The previous question was ordered pursuant to the rule.
Oct 17, 2019
The House rose from the Committee of the Whole House on the state of the Union to report H.R. 1815.
Oct 17, 2019
DEBATE - Pursuant to the provisions of H.Res. 629, the Committee of the Whole proceeded with 10 minutes of debate on the Casten (IL) amendment No. 4.
Oct 17, 2019
POSTPONED PROCEEDINGS - At the conclusion of debate on the Wagner amendment, the Chair put the question on the amendment and by voice vote, announced that the noes had prevailed. Mrs. Wagner demanded a recorded vote and the Chair postponed further proceedings on agreeing to the amendment until a time to be announced.
Oct 17, 2019
DEBATE - Pursuant to the provisions of H.Res. 629, the Committee of the Whole proceeded with 10 minutes of debate on the Wagner amendment No. 3.
Oct 17, 2019
POSTPONED PROCEEDINGS - At the conclusion of debate on the Gottheimer amendment, the Chair put the question on the amendment and by voice vote, announced that the ayes had prevailed. Mr. Gottheimer demanded a recorded vote and the Chair postponed further proceedings on agreeing to the amendment until a time to be announced.
Oct 17, 2019
DEBATE - Pursuant to the provisions of H.Res. 629, the Committee of the Whole proceeded with 10 minutes of debate on the Gottheimer amendment No. 2.
Oct 17, 2019
POSTPONED PROCEEDINGS - At the conclusion of debate on the Huizenga amendment, the Chair put the question on the amendment and by voice vote, announced that the noes had prevailed. Mr. Huizenga demanded a recorded vote and the Chair postponed further proceedings on agreeing to the amendment until a time to be announced.
Oct 17, 2019
DEBATE - Pursuant to the provisions of H.Res. 629, the Committee of the Whole proceeded with 10 minutes of debate on the Huizenga amendment No. 1.
Oct 17, 2019
GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 1815.
Oct 17, 2019
House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 629 and Rule XVIII.
Oct 17, 2019
The Speaker designated the Honorable James R. Langevin to act as Chairman of the Committee.
Oct 17, 2019
Rule provides for consideration of H.R. 1815 and H.R. 3624 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. Specified amendments are in order.
Oct 17, 2019
Considered under the provisions of rule H. Res. 629. (consideration: CR H8209-8224; text: CR H8215-8216)
Oct 15, 2019
Rules Committee Resolution H. Res. 629 Reported to House. Rule provides for consideration of H.R. 1815 and H.R. 3624 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. Specified amendments are in order.
Jun 20, 2019
Placed on the Union Calendar, Calendar No. 91.
Jun 20, 2019
Reported (Amended) by the Committee on Financial Services. H. Rept. 116-123.
Mar 28, 2019
Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 26.
Mar 28, 2019
Committee Consideration and Mark-up Session Held.
Mar 27, 2019
Committee Consideration and Mark-up Session Held.
Mar 26, 2019
Committee Consideration and Mark-up Session Held.
Mar 18, 2019
Referred to the House Committee on Financial Services.
Mar 18, 2019
Introduced in House
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
Oct 17, 2019 House · vote #564 On Passage Passed 229–186 See who voted →
 Amendments to this bill 4

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.

2 agreed to 2 failed

AmendmentSponsorPurposeStatusLatest action
HAMDT 630 Casten, Sean An amendment numbered 4 printed in Part B of House Report 116-237 to clarify that the term retail investor do… Agreed to Oct 17, 2019
HAMDT 629 Wagner, Ann Amendment sought to apply the bill's investor testing requirements only to applicable disclosure documents de… Failed Oct 17, 2019
HAMDT 628 Gottheimer, Josh Amendment requires the SEC to include a specific consideration of the unique challenges senior investors face… Agreed to Oct 17, 2019
HAMDT 627 Huizenga, Bill Amendment sought to exempt Form CRS, a disclosure document from the bill's investor testing requirements. Failed Oct 17, 2019
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 Latest action October 21, 2019

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

 Plain-English summary Congressional Research Service

SEC Disclosure Effectiveness Testing Act

This bill requires the Securities and Exchange Commission (SEC) to assess the usefulness of certain disclosure rules to retail investors. Specifically, the SEC must make these assessments regarding both current and new securities rules and regulations that require the disclosure of documents or information to retail investors.

 Related & companion bills 1
  • HRES 629 Related bill Providing for consideration of the bill (H.R. 1815) to require the Securities and Exchange Commission, when developing …
 Bill text 4 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1815: SEC Disclosure Effectiveness Testing Act. 116th Congress. Open America. https://openamerica.io/bill/116-HR-1815/
MLA
"H.R. 1815: SEC Disclosure Effectiveness Testing Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-1815/.
Bluebook (legal)
H.R. 1815, 116th Cong. (2026), https://openamerica.io/bill/116-HR-1815/.
Markdown link
[H.R. 1815: SEC Disclosure Effectiveness Testing Act](https://openamerica.io/bill/116-HR-1815/)
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