House passes bill that would block enforcement of new SEC investor protection rule
The bill, which is a funding bill for various federal agencies, including the Securities and Exchange Commission, passed the House on Wednesday by a vote of 224 to 196.
A bill that cleared the House on Wednesday includes an amendment that would upend securities regulators' plans to hold brokers to a new standard when giving advice to retail investors. The amendment was sponsored by Rep. Maxine Waters , who chairs the House Financial Services Committee. It was one of dozens of amendments offered, and among those that were approved by the House.
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