A bill to amend the Securities Exchange Act of 1934 to prohibit mandatory pre-dispute arbitration agreements, and for other purposes.
Investor Choice Act of 2021
This bill prohibits broker-dealers and investment advisers from including mandatory arbitration, forum selection restrictions, or bans on class action suits in a customer or client agreement. Issuers of securities are also prohibited from mandating arbitration in a shareholder agreement.
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 27 - 23.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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