HR 4600
Protecting Retail Investors’ Savings Act
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- Passed House
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Bill overview
The Protecting Retail Investors’ Savings Act aims to strengthen how financial professionals, like brokers and investment advisors, advise their clients. It requires them to prioritize a customer’s financial well-being (pecuniary factors) unless the customer specifically requests otherwise. Additionally, the Securities and Exchange Commission (SEC) will conduct studies to assess climate change disclosures in municipal bonds and investigate potential corruption involving government officials and the sale of municipal securities.
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