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H.R. 699 117th Congress House

Mutual Fund Litigation Reform Act

Official title: To amend the Investment Company Act of 1940 to provide complaint and burden of proof requirements for certain actions for breach of fiduciary duty.

Introduced: February 2, 2021 Introduced by: Tom Emmer Republican · Minnesota See on congress.gov
Finance and Financial Sector Civil actions and liabilityEvidence and witnessesFinancial services and investmentsSecurities
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 22, 2021
Referred to the Subcommittee on Courts, Intellectual Property, and the Internet.
Feb 2, 2021
Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, 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.
Feb 2, 2021
Introduced in House
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 Latest action March 22, 2021

Referred to the Subcommittee on Courts, Intellectual Property, and the Internet.

 Plain-English summary Congressional Research Service

Mutual Fund Litigation Reform Act

This bill specifies burden-of-proof and complaint requirements with respect to certain actions for breach of fiduciary duty against an investment adviser. Specifically, complaints must state certain facts with particularity, and a security holder has the burden of proving a breach of fiduciary duty by clear and convincing evidence.

 Related & companion bills 1
  • HR 8188 Reintroduction of Mutual Fund Litigation Reform Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
 Lobbying activity 8

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

Bodies those filers lobbied

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APA
U.S. Congress. (2026). H.R. 699: Mutual Fund Litigation Reform Act. 117th Congress. Open America. https://openamerica.io/bill/117-HR-699/
MLA
"H.R. 699: Mutual Fund Litigation Reform Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-699/.
Bluebook (legal)
H.R. 699, 117th Cong. (2026), https://openamerica.io/bill/117-HR-699/.
Markdown link
[H.R. 699: Mutual Fund Litigation Reform Act](https://openamerica.io/bill/117-HR-699/)
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