H.R. 699 · 117th Congress · House

Mutual Fund Litigation Reform Act

Active· Referred to the Subcommittee on Courts, Intellectual Property, and the Internet.
Introduced
Feb 2, 21
Passed House
Pending
Passed Senate
Pending
Sent to President
Pending
Signed into Law
Pending

Executive Summary

Mutual Fund Litigation Reform Act

This bill specifies burden-of-proof and complaint requirements with respect to certain actions for breach of fiduciary duty against an investment adviser. Specifically, complaints must state certain facts with particularity, and a security holder has the burden of proving a breach of fiduciary duty by clear and convincing evidence.

Action Timeline

5
  1. MAR 22, 2021•Committee

    Referred to the Subcommittee on Courts, Intellectual Property, and the Internet.

  2. FEB 02, 2021•IntroReferral

    Introduced in House

  3. FEB 02, 2021•IntroReferral

    Introduced in House

  4. FEB 02, 2021•IntroReferral

    Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

  5. FEB 02, 2021•IntroReferral

    Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Committees

3

Courts, Intellectual Property, Artificial Intelligence, and the Internet Subcommittee

hsju03

Referred: Mar 22, 2021

Active

Judiciary Committee

hsju00

Referred: Feb 2, 2021

Active

Financial Services Committee

hsba00

Referred: Feb 2, 2021

Active