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HR 699 117th Congress House Finance and Financial Sector Civil actions and liability Evidence and witnesses Financial services and investments Securities

Mutual Fund Litigation Reform Act

Introduced: February 2, 2021 Introduced by: Emmer, Tom Republican · Minnesota See on congress.gov
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 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
 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.

What's happening now March 22, 2021

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

 Committees of jurisdiction 3