An Act relative to fair investment practices

This bill creates a new chapter in Massachusetts law to prohibit professional investors from discriminating against individuals based on protected characteristics like race, gender, or sexual orientation during funding decisions. It specifically bans sexual harassment in investment transactions and prevents investors from denying funds to people or companies because of their identity, while allowing exceptions for funds designated to help historically disadvantaged groups. Violations of these rules can result in significant financial penalties and legal fees for the investor, with the Attorney General having the authority to enforce the anti-discrimination provisions. The law applies to a wide range of financial entities, including banks, venture capital funds, and insurance companies that engage in investment activities within the state.