118th Congress (2023–2025) · House bill · Sponsor: Rep. Wagner, Ann [R-MO-2]
This page covers HR500 in the 118th Congress. Bill numbers start over every Congress, so HR500 in another Congress is a different bill.
| Item | Detail |
|---|---|
| Roll-call votes | 1 |
| Chamber | House |
| Latest vote | 2023-01-30: Passed |
| Latest action | 2023-01-31: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
| Policy area | Finance and Financial Sector |
| Official record | Congress.gov |
Financial Exploitation Prevention Act of 2023 This bill addresses the redemption of securities involving the potential financial exploitation of an adult by allowing an open-end investment company to elect to comply with certain procedures. (Open-end investment management companies offer securities in pooled investment vehicles such as mutual funds.) Specifically, the bill allows for the delay of the redemption of a security issued by an open-end investment management company if the company reasonably believes the redemption involves the financial exploitation of an individual age 65 or older or an individual age 18 or older who is unable to protect his or her own interests. The company may initially delay the redemption for up to 15 days and, upon making a determination of exploitation, may delay the redemption an additional 10 days. In the event of delay, the company must hold the amounts related to the redemption in a demand deposit account. Additionally, the Securities and Exchange Commission must make legislative and regulatory recommendations to address the financial exploitation of these adults.
Subjects: Administrative law and regulatory procedures, Congressional oversight, Crime victims, Fraud offenses and financial crimes, Government information and archives, Government studies and investigations, Securities, Securities and Exchange Commission (SEC)
Every recorded vote on this bill, newest first, with a link to the official tally. Member-by-member positions are on each member’s profile.
| Date | Chamber | Question | Result | Yea | Nay | Not voting | Record |
|---|---|---|---|---|---|---|---|
| 2023-01-30 | House | 2/3 Yea-And-Nay | Passed | 352 | 0 | 10 | Official tally |
HR500 (Financial Exploitation Prevention Act of 2023) was introduced in the 118th Congress (2023–2025) by Rep. Wagner, Ann [R-MO-2].
On 2023-01-31: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
1 recorded vote in the 118th Congress. The most recent, on 2023-01-30, was "2/3 Yea-And-Nay": Passed.