Senate Bill 2499
115th Congress(2017-2018)
A bill to require the Financial Industry Regulatory Authority to establish a relief fund to provide investors with the full value of unpaid arbitration awards issued against brokerage firms or brokers regulated by the Authority.
Introduced
Introduced in Senate on Mar 6, 2018
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2499
Congress
115
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No Senate votes have been held for this bill.
Summary
This bill directs the Financial Industry Regulatory Authority (FINRA) to compensate investors for the full value of unpaid arbitration awards. To qualify, an award must be the result of a final order issued in favor of an investor against a brokerage firm or broker regulated by FINRA.
March 6, 2018
06/28/2018
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-406.
03/06/2018
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
03/06/2018
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:40:01 PM