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US HB3484

Bill

Status

Introduced

5/19/2025

Primary Sponsor

Garland Barr

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Origin

House of Representatives

119th Congress

AI Summary

  • Repeals SEC authority under Section 15(o) of the Securities Exchange Act of 1934 to restrict mandatory predispute arbitration agreements between brokers/dealers and their customers

  • Removes SEC authority to establish rules prohibiting or restricting sales practices, conflicts of interest, and compensation schemes for brokers and investment advisers under both the Securities Exchange Act of 1934 and Investment Advisers Act of 1940

  • Eliminates SEC authority related to "Standard of Conduct" provisions in the Securities Exchange Act of 1934

  • Strikes corresponding provisions from Section 921 of the Investor Protection and Securities Reform Act of 2010

  • All repealed authorities originated from the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and were characterized as "unused"

Legislative Description

Business Owners Protection Act of 2025

Finance and financial sector

Last Action

Placed on the Union Calendar, Calendar No. 315.

11/4/2025

Committee Referrals

Financial Services5/19/2025

Full Bill Text

No bill text available