Strengthening the Office of the Investor Advocate Act
This bill revises provisions governing the Office of the Investor Advocate at the Securities and Exchange Commission (SEC). Specifically, the bill
expands who may serve as the Investor Advocate,
provides that the Investor Advocate may only be removed by the chair of the SEC and may not be removed for advocating policies contrary to the chair or any commissioner,
allows the office to publish the results of investor research and testing without review from the SEC, and
establishes a budget request process for the office separate from the SEC.
Actions
May 17, 2022
Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 25 - 22.
May 17, 2022
Committee Consideration and Mark-up Session Held.
May 12, 2022
Referred to the House Committee on Financial Services.