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H.R. 1366 (115th): U.S. Territories Investor Protection Act of 2017

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About the bill

A little-known loophole means not all investment companies are required to abide by federal registration and investor protection requirements, affecting some 3.7 million American citizens. Many lawmakers believe this loophole has outlived its usefulness. The U.S. Territories Investor Protection Act, S. 484 and H.R. 1366, would permanently close it.

What the bill does

In 1940, the Investment Company Act created an exemption for investment companies incorporated in U.S. territories such as Puerto Rico, Guam, and the Virgin Islands. The Securities and Exchange Commission (SEC) has long allowed the exemptions if a territorial company’s shares are sold only to residents of the territory where it’s located. That’s no small matter, as U.S. territories today total more than 3.7 million American citizens, exposing them to investment risks from which mainland …

Sponsor and status

Nydia Velázquez

Sponsor. Representative for New York's 7th congressional district. Democrat.

Read Text »
Last Updated: May 3, 2017
Length: 3 pages
Mar 6, 2017
115th Congress (2017–2019)
Enacted Via Other Measures

Provisions of this bill were incorporated into other bills which were enacted.

This bill was incorporated into:

S. 2155: Economic Growth, Regulatory Relief, and Consumer Protection Act
Enacted — Signed by the President on May 24, 2018. (compare text)

8 Cosponsors (4 Democrats, 4 Republicans)



Mar 6, 2017

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

Mar 9, 2017
Ordered Reported

A committee has voted to issue a report to the full chamber recommending that the bill be considered further. Only about 1 in 4 bills are reported out of committee.

May 1, 2017
Passed House (Senate next)

The bill was passed in a vote in the House. It goes to the Senate next. The vote was by voice vote so no record of individual votes was made.

May 1, 2017
Reported by House Committee on Financial Services

A committee issued a report on the bill, which often provides helpful explanatory background on the issue addressed by the bill and the bill's intentions.

H.R. 1366 (115th) was a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

Bills numbers restart every two years. That means there are other bills with the number H.R. 1366. This is the one from the 115th Congress.

This bill was introduced in the 115th Congress, which met from Jan 3, 2017 to Jan 3, 2019. Legislation not passed by the end of a Congress is cleared from the books.

How to cite this information.

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“H.R. 1366 — 115th Congress: U.S. Territories Investor Protection Act of 2017.” 2017. January 25, 2022 <>

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