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
- Introduced:
Mar 1, 2017
- Status:
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Passed Senate (House next) on Sep 11, 2017
This bill passed in the Senate on September 11, 2017 and goes to the House next for consideration.
- Prognosis:
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22% chance of being enacted according to Skopos Labs (details)
History
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Sep 29, 2016
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Earlier Version —
Introduced
This activity took place on a related bill, S. 3467 (114th). |
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Mar 1, 2017
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Introduced
Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber. |
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Mar 9, 2017
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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. |
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May 1, 2017
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Companion Bill —
Passed House (Senate next)
This activity took place on a related bill, H.R. 1366, possibly in lieu of similar activity on S. 484. |
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Sep 11, 2017
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Passed Senate (House next)
The bill was passed in a vote in the Senate. It goes to the House next. The vote was by Unanimous Consent so no record of individual votes was made. |
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Pending
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Passed House
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Pending
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Signed by the President
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S. 484 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:
“S. 484 — 115th Congress: U.S. Territories Investor Protection Act of 2017.” www.GovTrack.us. 2017. April 20, 2018 <https://www.govtrack.us/congress/bills/115/s484>
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Where is this information from?
GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.
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