Mutual Fund Litigation Reform Act
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.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2021
Committee Review
Floor Vote
President
Introduced Feb 2, 2021
Last action Mar 22, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
0
Committee
2
Mar 22, 2021
Committee
Referred to the Subcommittee on Courts, Intellectual Property, and the Internet.
lower
Feb 2, 2021
Committee
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.
lower
Feb 2, 2021
Introduced
Introduced in House
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Tom Emmer
RRepublican
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