HR 1815 · 116th Congress 2019–2021, ended

SEC Disclosure Effectiveness Testing Act

Fact sheet

Latest action · Oct 21, 2019 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.

  1. IntroducedMar 18, 2019
  2. Passed HouseOct 17, 2019
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

SEC Disclosure Effectiveness Testing Act

This bill requires the Securities and Exchange Commission (SEC) to assess the usefulness of certain disclosure rules to retail investors. Specifically, the SEC must make these assessments regarding both current and new securities rules and regulations that require the disclosure of documents or information to retail investors.

Recorded votes 4

Newest first. Open one to see how every member voted.

Roll callQuestionResultDate
House 564Passed229–186Oct 17, 2019
House 563Failed188–230Oct 17, 2019
House 562Agreed to240–178Oct 17, 2019
House 561Failed188–229Oct 17, 2019

Cosponsors

Members who signed on, in the order they did.

No cosponsors are on file for this measure.

Actions 29

Everything that happened, newest first.

  1. Oct 21, 2019Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. Oct 17, 2019Considered under the provisions of rule H. Res. 629. (consideration: CR H8209-8224; text: CR H8215-8216)
  3. Oct 17, 2019DEBATE - Pursuant to the provisions of H.Res. 629, the Committee of the Whole proceeded with 10 minutes of debate on the Casten (IL) amendment No. 4.
  4. Oct 17, 2019DEBATE - Pursuant to the provisions of H.Res. 629, the Committee of the Whole proceeded with 10 minutes of debate on the Gottheimer amendment No. 2.
  5. Oct 17, 2019DEBATE - Pursuant to the provisions of H.Res. 629, the Committee of the Whole proceeded with 10 minutes of debate on the Huizenga amendment No. 1.

Amendments 4

Amendments offered to this bill.

AmendmentDescriptionOffered byStatus
HAmdt 627Amendment sought to exempt Form CRS, a disclosure document from the bill's investor testing requirements.Bill Huizenga R-MIOn agreeing to the Huizenga amendment (A001) Failed by recorded vote: 188 - 229 (Roll no. 561).
HAmdt 628Amendment requires the SEC to include a specific consideration of the unique challenges senior investors face as part of their overall investor testing.Josh Gottheimer D-NJOn agreeing to the Gottheimer amendment (A002) Agreed to by recorded vote: 240 - 178 (Roll no. 562).
HAmdt 629Amendment sought to apply the bill's investor testing requirements only to applicable disclosure documents developed after January 21, 2021.Ann Wagner R-MOOn agreeing to the Wagner amendment (A003) Failed by recorded vote: 188 - 230 (Roll no. 563).
HAmdt 630An amendment numbered 4 printed in Part B of House Report 116-237 to clarify that the term retail investor does not mean an institutional investor.Sean Casten D-ILOn agreeing to the Casten (IL) amendment (A004) Agreed to by voice vote.

Related bills 1

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

Subjects

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

Text 4

Each version as it was printed, newest first.

  1. Oct 21, 2019Referred in Senate
  2. Oct 17, 2019Engrossed in House
  3. Jun 20, 2019Reported in House
  4. Mar 18, 2019Introduced in House

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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.