H.R. 1090Retail Investor Protection Act

2 recorded actions125 of these members are on the 2026 ballotWhat the measure does Read on Congress.gov

Sponsor: Ann Wagner [R-MO-02]
Cosponsors: 34 · 34 Republicans
Policy area: Finance and Financial Sector
Committees: Financial Services Committee, Education and Workforce Committee · and 1 more
Latest action: Oct 28, 2015 · Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

IntroducedFeb 25, 2015
Passed the HouseOct 27, 2015
Passed the SenateNot yet reached
Sent to the PresidentNot yet reached
Became lawNot yet reached

What the measure doesCRS summary

(This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.)

Retail Investor Protection Act

(Sec. 2) Prohibits the Secretary of Labor from prescribing any regulation under the Employee Retirement Income Security Act of 1974 (ERISA) defining the circumstances under which an individual is considered a fiduciary until 60 days after the Securities and Exchange Commission (SEC) issues a final rule governing standards of conduct for brokers and dealers under specified law.

(Sec. 3) Amends the Securities Exchange Act of 1934 to prohibit the SEC from promulgating a rule establishing an investment advisor standard of conduct as the standard of conduct of brokers and dealers before it reports to certain congressional committees whether:

retail investors and other customers are being harmed due to brokers or dealers operating under different standards of conduct than those applicable to investment advisors under the Investment Advisers Act of 1940;

alternative remedies will reduce any confusion or harm to retail investors due to brokers or dealers operating under such different standards of conduct;
adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact their commissions and the availability of proprietary products offered by brokers and dealers, as well as the ability of brokers and dealers to engage in principal transactions with customers; and
adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact retail investor access to personalized, cost-effective investment advice and recommendations.

Requires the SEC: (1) to publish in the Federal Register formal findings that such rule would reduce retail customer confusion or harm due to standards of conduct applicable to brokers, dealers, and investment advisors; and (2) in proposing rules to consider the differences in the registration, supervision, and examination requirements applicable to brokers, dealers, and investment advisors.

Written by the nonpartisan Congressional Research Service, describing H.R. 1090 as passed House amended on Oct 27, 2015. It is not the text of the measure; a later amendment may have changed what it does.

Roll calls on H.R. 10902 roll calls on this measure

Choose a roll call

Oct 27, 2015Each bar: ✓ Yea from the bottom, ✕ Nay aboveOct 27, 2015

How every member votedHouse roll call 575

House Oct 27, 2015 · the primary vote

On Passage

To amend the Securities Exchange Act of 1934 to provide protections for retail customers, and for other purposes.

Passed

245 Yea 186 Nay 3 not voting

Party-line vote 5 of 431 voting members broke with their own party: 3 Democrats, 2 Republicans.

Open the official roll call

How the chamber split

One dot per member. Select a seat or a bar to filter the list.

DemocratsRepublicansFilled: YeaRing: NayGrey: not voting or present

By party select a segment to filter

All members434 members

Democratic188 members

Republican246 members

marks half of the votes cast. A party’s majority is the side most of its voting members took.

Cosponsors34 · 34 Republicans

Signing on is not a vote: a member can cosponsor H.R. 1090 and vote against it. 1 signed when it was filed.

Loading the public record

Who lobbied on H.R. 109077 organizations

Organizations that named H.R. 1090 in a lobbying disclosure. Only those that cited the bill by number appear, so this is a floor, not a full list.

CENTER FOR RESPONSIBLE LENDING A SUPPORTING CORP OF CTR FOR COMMUNITY SELF-HELPfiled by CENTER FOR RESPONSIBLE LENDING, A SUPPORTING CORP OF CTR FOR COMMUNITY SELF-HELP

Banking11 filings · 3rd Quarter (July 1 - Sep 30) 2016Filing

INVESTMENT COMPANY INSTITUTEfiled by THE VELASQUEZ GROUP, L.L.C., INVESTMENT COMPANY INSTITUTEIts PAC: Investment Co. Institute PAC

Financial Institutions/Investments/Securities · Bankruptcy · Budget/Appropriations · Consumer Issues/Safety/Products +4 more10 filings · 4th Quarter (Oct 1 - Dec 31) 2016Filing

AMERICAN FEDERATION OF STATE COUNTY AND MUNICIPAL EMPLOYEESfiled by AMERICAN FEDERATION OF STATE, COUNTY AND MUNICIPAL EMPLOYEES

Retirement · Housing · Law Enforcement/Crime/Criminal Justice · Trade (domestic/foreign) +25 more9 filings · 4th Quarter (Oct 1 - Dec 31) 2016Filing

AMERICAN SOCIETY OF PENSION PROFESSIONALS & ACTUARIESIts PAC: The American Society of Pension Professionals & Actuaries PAC A/K/A American Retirement Association PAC

Retirement9 filings · 4th Quarter (Oct 1 - Dec 31) 2016Filing

FINSECAIts PAC: Finseca PAC

Financial Institutions/Investments/Securities · Taxation/Internal Revenue Code · Insurance9 filings · 4th Quarter (Oct 1 - Dec 31) 2016Filing

METLIFE GROUP, INC.

Labor Issues/Antitrust/Workplace · Trade (domestic/foreign) · Financial Institutions/Investments/Securities · Retirement +6 more9 filings · 4th Quarter (Oct 1 - Dec 31) 2016Filing

NATIONAL ASSOCIATION OF INSURANCE AND FINANCIAL ADVISORSIts PAC: National Association of Insurance & Financial Advisors Political Action Comm

Health Issues · Taxation/Internal Revenue Code · Financial Institutions/Investments/Securities · Retirement +2 more9 filings · 4th Quarter (Oct 1 - Dec 31) 2016Filing

TRANSAMERICA COMPANIES

Financial Institutions/Investments/Securities · Taxation/Internal Revenue Code · Retirement · Insurance +1 more9 filings · 4th Quarter (Oct 1 - Dec 31) 2016Filing

CHARLES SCHWAB CORPORATIONfiled by THE CHARLES SCHWAB CORPORATION

Taxation/Internal Revenue Code · Financial Institutions/Investments/Securities · Retirement · Consumer Issues/Safety/Products8 filings · 4th Quarter (Oct 1 - Dec 31) 2016Filing

FARMERS GROUP INCfiled by FARMERS GROUP, INC

Insurance8 filings · 4th Quarter (Oct 1 - Dec 31) 2016Filing

411 disclosures name this measure. Retrieved from LDA.gov on 2026-10-05. Senate Office of Public Records cannot vouch for the data or analyses derived from these data after the data have been retrieved from LDA.gov.