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H.R. 1366: U.S. Territories Investor Protection Act of 2017

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 ...

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


Passed House (Senate next) on May 1, 2017

This bill passed in the House on May 1, 2017 and goes to the Senate next for consideration.


31% chance of being enacted according to Skopos Labs (details)

See Instead:

S. 484 (same title)
Passed Senate (House next) — Sep 11, 2017


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.

Passed Senate

Signed by the President

H.R. 1366 is 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.

How to cite this information.

We recommend the following MLA-formatted citation when using the information you see here in academic work:

“H.R. 1366 — 115th Congress: U.S. Territories Investor Protection Act of 2017.” 2017. April 24, 2018 <>

Where is this information from?

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