H.R. 2374: Retail Investor Protection Act

113th Congress · introduced 2013-06-14 · Finance and Financial Sector · Latest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

Follow this bill, step by step

Where it came from: introduced 2013-06-14 · official record
Who proposed it: Rep. Wagner, Ann [R-MO-2] · what a sponsor is
What happened next: 3 recorded votes in our records. Latest: House roll call 565 (2013): On Agreeing to the Amendment, HR2374 (2013-10-29), Failed. See all
Where it stands now: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Retail Investor Protection Act

Plain summary

(This measure has not been amended since it was reported to the House on September 25, 2013. The summary of that version is repeated here.) Retail Investor Protection Act - 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 has ascertained: (1) if retail customers are systematically harmed or disadvantaged owing to the operation of brokers or dealers under different standards of conduct than those that apply to investment advisors under the Investment Advisers Act of 1940, and (2) whether adoption of a uniform fiduciary standard of care for brokers or dealers and investment advisors would adversely impact retail investor access or availability to personalized investment advice and recommendations. Requires the SEC: (1) to publish in the Federal Register formal findings that such rules would reduce retail customer confusion regarding standards of conduct applicable to brokers, dealers, and investment advisors; and (2) in proposing such rules, to consider the differences in the registration, supervision, and examination requirements applicable to brokers, dealers, and investment advisors.

Congressional Research Service summary (Passed House amended), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Retail Investor Protection Act

Source: Congressional Research Service summary (Passed House amended)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Wagner, Ann [R-MO-2] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Sponsor's campaign money: Rep. Wagner, Ann [R-MO-2] reported raising $4.2 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

Recorded votes

House roll call 565 (2013): On Agreeing to the Amendment, HR2374 (2013-10-29): Failed
House roll call 566 (2013): On Motion to Recommit with Instructions, HR2374 (2013-10-29): Failed
House roll call 567 (2013): On Passage, HR2374 (2013-10-29): Passed

Words on this page, explained (3)

Federal Register: The official daily publication of the U.S. government for agency rules, proposed rules, public notices and presidential documents.
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Passed House amended)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113hr2374.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/hr>

Record fed-us-cong113-hr2374 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113