MA H1922

Creates new Chapter 151G "Fair Investment Practices" requiring professional investors (venture capital firms, private equity firms, hedge funds, investment banks) operating in Massachusetts to follow compliance guidelines addressing investment equity for historically disadvantaged protected classes

Requires professional investors to include a written compliance policy in their organizational charter, adopt written procedures for compliance, and submit a written self-evaluation to the attorney general at least once every 3 years assessing progress toward funding historically disadvantaged groups

Protected characteristics include race, color, religious creed, national origin, sex, gender identity, sexual orientation, age, genetic information, ancestry, veteran status, handicap, and pregnancy-related conditions

Non-compliance constitutes an unfair or deceptive trade practice under Chapter 93A, enforceable by the attorney general who may seek civil penalties, compensatory, incidental, consequential and punitive damages, and injunctive relief

Attorney general must publish compliance guidelines within 1 year of the act's effective date and update them at least every 3 years, in consultation with the Massachusetts Commission Against Discrimination and Secretary of State