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119-hr-3484119th CongressWALLET

Business Owners Protection Act of 2025

Sponsored By: Representative Barr, Andy [R-KY-6]

In Committee

Summary

This bill would remove several dormant SEC authorities from Dodd-Frank, most notably ending the agency's power to restrict mandatory predispute arbitration and to set certain fiduciary and conduct mandates.

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  • Business owners: Would eliminate the SEC's authority to restrict mandatory predispute arbitration, affecting how companies can use arbitration clauses in customer and employee agreements.
  • Investors and advisers: Would repeal and amend provisions that authorized the SEC to impose fiduciary-duty rules and a statutory "standard of conduct" under the Securities Exchange Act and the Investment Advisers Act, narrowing regulatory hooks tied to investor protections.
  • SEC and rulemaking: Would change specific "Commission shall" directives to "Commission shall facilitate" and strike listed paragraphs, collectively terminating several unused regulatory authorities created by Dodd-Frank without adding new program authorities or funding.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 0 benefits, 0 costs, 2 mixed.

Fewer SEC duties for brokers and advisers

If enacted, the SEC would have less power to set duty and conduct rules. The bill would narrow duties in two core securities laws. It would also delete a standard of conduct clause. Firms could face fewer compliance rules. Investors might have weaker legal backstops for bad advice. The bill lists no dates or money.

SEC could not limit mandatory arbitration

If enacted, the bill would repeal the SEC's power to restrict mandatory arbitration. Firms could keep or expand arbitration clauses. Investors would have fewer paths to bring group or court cases. The bill sets no dates or funding.

Sponsors & CoSponsors

Sponsor

Barr, Andy [R-KY-6]

KY • R

Cosponsors

  • Rep. Emmer, Tom [R-MN-6]

    MN • R

    Sponsored 5/19/2025

  • Rep. Westerman, Bruce [R-AR-4]

    AR • R

    Sponsored 5/19/2025

  • Rep. Hinson, Ashley [R-IA-2]

    IA • R

    Sponsored 5/19/2025

  • Rep. Hudson, Richard [R-NC-9]

    NC • R

    Sponsored 5/20/2025

  • Rep. Baumgartner, Michael [R-WA-5]

    WA • R

    Sponsored 5/20/2025

  • Rep. Williams, Roger [R-TX-25]

    TX • R

    Sponsored 6/6/2025

  • Rep. Sessions, Pete [R-TX-17]

    TX • R

    Sponsored 6/9/2025

Roll Call Votes

No roll call votes available for this bill.

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