Amendment sought to authorize the Department of Labor to issue a fiduciary duty rule that protects access to investment education and advice and assures the availability of reasonable compensation to financial service providers. Amendment also sought to require a study of the effect of current investment industry practices on the standard of care provided to investors by persons providing investment advice, including the effect on low-income investors.

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Amendment Number
493
Description
Amendment sought to authorize the Department of Labor to issue a fiduciary duty rule that protects access to investment education and advice and assures the availability of reasonable compensation to financial service providers. Amendment also sought to require a study of the effect of current investment industry practices on the standard of care provided to investors by persons providing investment advice, including the effect on low-income investors.
Purpose
Amendment sought to authorize the Department of Labor to issue a fiduciary duty rule that protects access to investment education and advice and assures the availability of reasonable compensation to financial service providers. Amendment also sought to require a study of the effect of current investment industry practices on the standard of care provided to investors by persons providing investment advice, including the effect on low-income investors.
Congress
113
Type
HAMDT
Latest Action Date
Oct 29, 2013
Latest Action Text
On agreeing to the Miller, George amendment (A002) Failed by the Yeas and Nays: 174 - 243 (Roll no. 565).
Latest Action Time
17:07:47
Submitted Date
Oct 29, 2013
Chamber
House of Representatives
Update Date
Feb 3, 2022
Amendment 493 — Informed