A bill to require the Securities and Exchange Commission to examine the activities of professional financial planners, to evaluate the effectiveness of existing governmental regulation of their activities, and to make recommendations to the Congress on the basis of the examination and evaluation.
Latest action. Referred to subcommitteeA smaller panel inside a standing committee with jurisdiction over a slice of its subject matter. Most hearings and the first markup usually happen here.Read the full definition (opens a new tab) on Telecommunications, Consumer Protection and Finance.
Requires the Securities and Exchange Commission to examine and report to the Congress on: (1) the operations of professional financial planners; (2) the nature, extent, and adequacy of Federal and State regulation of financial planning activities; (3) recommendations for correcting inadequate regulation through legislative proposals or the use of a self-regulatory organization; (4) the risks faced by investors because of inadequate regulation; and (5) the risks faced by regulated persons as a consequence of their relationships with financial planners. Directs the Commission to consult with State regulatory officers and agencies and with professional organizations which provide financial planning services.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on June 11, 1986. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on June 19, 1986: Referred to Subcommittee on Telecommunications, Consumer Protection and Finance.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 99th Congress (1985-86), 666 of the 9,885 bills and joint resolutions introduced became law, about 6.7 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
HOWARD NIELSON (R-UT) introduced it on June 11, 1986, and 1 member has since signed on as a cosponsor.
They are 1 Republican.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on June 11, 1986, 14749 days ago. The most recent recorded action was 14741 days ago, on June 19, 1986.
Measures do not carry over. Anything the 99th Congress has not finished by January 3, 1987 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers