HR 699 · 117th Congress · Finance and Financial Sector

Mutual Fund Litigation Reform Act

Introduced 2021-02-02· Sponsored by Rep. Emmer, Tom [R-MN-6]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Subcommittee on Courts, Intellectual Property, and the Internet.(2021-03-22)

Plain Language Summary

[AI summary unavailable — showing source text] 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.…

Summarized by Claude AI · Non-partisan · For informational purposes only