|
The Retail Investor Protection Act () is a bill that would delay some pending regulations being written by the United States Department of Labor until the Securities and Exchange Commission has finalized their own rules.〔 The rules in question are rules that would describe "when financial advisors are considered a fiduciary, which means they must must work in their clients' best interest." The bill passed the United States House of Representatives during the 113th United States Congress. ==Provisions of the bill== ''This summary is based largely on the summary provided by the Congressional Research Service, a public domain source.''〔(【引用サイトリンク】url=http://beta.congress.gov/bill/113th/house-bill/2374 )〕 The Retail Investor Protection Act would prohibit the United States Secretary of Labor from prescribing any regulation under the Employee Retirement Income Security Act of 1974 (ERISA) defining the circumstances under which an individual is considered a fiduciary until 60 days after the Securities and Exchange Commission (SEC) issues a final rule governing standards of conduct for brokers and dealers under specified law.〔 Section 3 of the bill would amend the Securities Exchange Act of 1934 to prohibit the SEC from promulgating a rule establishing an investment advisor standard of conduct as the standard of conduct of brokers and dealers before it has ascertained: (1) if retail customers are systematically harmed or disadvantaged owing to the operation of brokers or dealers under different standards of conduct than those that apply to investment advisors under the Investment Advisers Act of 1940, and (2) whether adoption of a uniform fiduciary standard of care for brokers or dealers and investment advisors would adversely impact retail investor access or availability to personalized investment advice and recommendations.〔 The bill would require the SEC: (1) to publish in the Federal Register formal findings that such rules would reduce retail customer confusion regarding standards of conduct applicable to brokers, dealers, and investment advisors; and (2) in proposing such rules, to consider the differences in the registration, supervision, and examination requirements applicable to brokers, dealers, and investment advisors.〔 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Retail Investor Protection Act」の詳細全文を読む スポンサード リンク
|