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HR 7151 117th Congress House

Ensuring Sound Guidance Act

Official title: To amend the Investment Advisers Act of 1940 and the Employment Retirement Income Security Act of 1974 to specify that only pecuniary factors are to be taken i… Show full official titleShow less

Official title: To amend the Investment Advisers Act of 1940 and the Employment Retirement Income Security Act of 1974 to specify that only pecuniary factors are to be taken into account in determining best interest, and for other purposes.

Introduced: June 23, 2022 Introduced by: Barr, Andy Republican · Kentucky See on congress.gov
Labor and Employment
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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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 18, 2022
Referred to the Committee on Education and Labor, and in addition to the Committee on Financial Services, 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.
Mar 18, 2022
Introduced in House
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 Latest action March 18, 2022

Referred to the Committee on Education and Labor, and in addition to the Committee on Financial Services, 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.

 Plain-English summary Congressional Research Service

Ensuring Sound Guidance Act

This bill generally requires investment advisors and fiduciaries of employer-sponsored retirement plans to make investment decisions based only on pecuniary factors (i.e., factors that a fiduciary prudently determines are expected to have a material effect on the risk and return of an investment based on appropriate investment horizons consistent with the plan's policies and objectives).

The bill allows nonpecuniary factors to be considered in certain situations, such as when a customer specifically requests that these factors be considered or when selecting investment options for certain participant-directed retirement plans.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 24
All 24 Republican 21
R
Reschenthaler, Guy
Pennsylvania · Nov 18, 2022
Wenstrup, Brad
· Nov 14, 2022
 R
Meuser, Daniel
Pennsylvania · Sep 30, 2022
 R
Donalds, Byron
Florida · Sep 15, 2022
 R
Gooden, Lance
Texas · Sep 15, 2022
 R
Joyce, David P.
Ohio · Sep 15, 2022
 R
Owens, Burgess
Utah · Sep 15, 2022
 R
Wagner, Ann
Missouri · Sep 15, 2022
 R
Huizenga, Bill
Michigan · Aug 12, 2022
 R
Rose, John W.
Tennessee · Aug 12, 2022
 R
Fulcher, Russ
Idaho · Jul 26, 2022
 R
Babin, Brian
Texas · Jul 15, 2022
 R
Comer, James
Kentucky · Jul 15, 2022
Mooney, Alexander
· Jul 15, 2022
 R
Pfluger, August
Texas · Jul 15, 2022
 R
Williams, Roger
Texas · Jul 15, 2022
 R
Banks, Jim
Indiana · Jun 23, 2022
 R
Carey, Mike
Ohio · Jun 23, 2022
 R
Hudson, Richard
North Carolina · Jun 23, 2022
 R
Weber, Randy K. Sr.
Texas · Jun 23, 2022
Graves, Garret
· Jun 15, 2022
 R
Miller-Meeks, Mariannette
Iowa · Apr 14, 2022
 R
Stefanik, Elise M.
New York · Mar 31, 2022
 R
Allen, Rick W.
Georgia · Mar 18, 2022
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 7151: Ensuring Sound Guidance Act. 117th Congress. Open America. https://openamerica.io/bill/117-HR-7151/
MLA
"H.R. 7151: Ensuring Sound Guidance Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-7151/.
Bluebook (legal)
H.R. 7151, 117th Cong. (2026), https://openamerica.io/bill/117-HR-7151/.
Markdown link
[H.R. 7151: Ensuring Sound Guidance Act](https://openamerica.io/bill/117-HR-7151/)
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