Mutual Fund Litigation Reform Act

Fact Sheet API

Bill Number

HR 699

Introduced

Feb 2, 2021

Latest Action

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

Sponsor

Cosponsors

Topics

Civil actions and liability Evidence and witnesses Finance and Financial Sector Financial services and investments Securities

Full Text

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Votes

Summary

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.

Actions

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

Amendments

Related Bills