HR 1077 · 109th Congress 2005–2007, ended

Realtime Investor Protection Act

Introduced Mar 3, 2005 Originated House Sponsor John B. Shadegg R-AZ

Latest action · Apr 7, 2005 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

IntroducedMar 3, 2005
Passed HouseApr 6, 2005
Passed SenateNot reached
To the PresidentNot reached
Became lawNot reached

Summary

Realtime Investor Protection Act - Amends the Securities Exchange Act of 1934 to require a registered securities association to: (1) establish and maintain a registration information system on its members and their associated persons; and (2) establish and maintain a toll-free telephone listing, and a readily accessible electronic or other process, to receive and promptly respond to inquiries regarding that information. (Currently such an association is required to maintain a toll-free telephone listing to receive inquiries regarding disciplinary actions involving its members and their associated persons.)

Amends the Investment Advisers Act of 1940 to authorize the Securities and Exchange Commission (SEC) to require an investment adviser to: (1) file with the SEC any fee, application, report, or notice required to be filed through any entity designated by the SEC for that purpose; and (2) pay the reasonable costs associated with such filing and the establishment and maintenance of the telephone and electronic systems required by this Act.

Directs the SEC to require the designated entity to establish and maintain a toll-free telephone listing, and a readily accessible electronic or other process, to receive and promptly respond to inquiries regarding registration information (including disciplinary actions, regulatory, judicial, and arbitration proceedings, involving investment advisers and persons associated with investment advisers).

Requires that such information to include information on an investment adviser (and the persons associated with that adviser) whether the investment adviser is registered with the Commission or regulated solely by a State.

Cosponsors 1

Members who signed on, in the order they did. All signed on Mar 3, 2005.

Seat	Cosponsor		Signed on
R-KS	Jim Ryun	Original	Mar 3, 2005

Committees 2

Where it was sent and what each committee and subcommittee did with it, in order.

Chamber	Committee	What it did
House	Financial Services Committee	Referred Mar 3, 2005
Senate	Banking, Housing, and Urban Affairs Committee	Referred Apr 7, 2005

Actions 8

Everything that happened, newest first.

Apr 7, 2005Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Apr 6, 2005Mrs. Kelly moved to suspend the rules and pass the bill, as amended.
Apr 6, 2005Considered under suspension of the rules. (consideration: CR H1788-1790)
Apr 6, 2005DEBATE - The House proceeded with forty minutes of debate on H.R. 1077.
Apr 6, 2005Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text as amended: CR H1788-1789)
Apr 6, 2005Motion to reconsider laid on the table Agreed to without objection.
Mar 3, 2005Introduced in House
Mar 3, 2005Referred to the House Committee on Financial Services.

In the Congressional Record 1

Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.

Where	In the Record	Members	Date
House	Debate and remarks H1788–H1790Text printed H1788	David Scott D-GA, John B. Shadegg R-AZ, Michael G. Oxley R-OH, Sue W. Kelly R-NY	Apr 6, 2005

Related bills 1

Companion bills and other measures the record links to this one.

Bill	Title	Relationship	Latest action
S 418	Military Personnel Financial Services Protection Act	Related bill	Sep 29, 2006

Titles 3

Every title it has carried, official and short, at each stage.

Official Title as Introduced: To improve the access of investors to regulatory records with respect to securities brokers, dealers, and investment advisers.
Short Titles as Introduced: Realtime Investor Protection Act
Short Titles as Passed House: Realtime Investor Protection Act

Subjects

Assigned by the Library of Congress. Policy area: Finance and Financial Sector.

Text 3

Each version as it was printed, newest first.

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.