To amend the Investment Advisers Act of 1940 and the Employee Retirement Income Security Act of 1974 to specify requirements concerning the consideration of pecuniary and non-pecuniary factors, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Investment Advisers Act of 1940 and the Employee Retirement Income Security Act of 1974 to specify requirements concerning the consideration of pecuniary and non-pecuniary factors, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Government Operations, Labor.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H66DD05752CBC44F98C9F214538DC0789: 1. Short title This Act may be cited as the Ensuring Sound Guidance Act.
- Section ida33415d3c83c4d5a812ddb6a275cc50d: 2. Definitions In this Act: The term Commission means the Securities and Exchange Commission. The term municipal securities has the meaning given the term in...
- Section H422655F95D1840F481A6E004025E82A8: 3. Investment Advisors Act of 1940 amendment Section 211(g) of the Investment Advisers Act of 1940 (15 U.S.C. 80b–11(g)) is amended— by redesignating paragraph...
- Section H996276CEABD44609A88CFEF0E1026CF3: 4. Employee Retirement Income Security Act of 1974 amendment Section 404(a) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1104(a)) is...
- Section HBB80CC83E91945E38068C62DDBF50BB0: 5. Study of State and local pension plans The Comptroller General of the United States shall conduct a study on the potential impact of underfunded State and...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers.
At a Glance
What This Bill Does
This bill, To amend the Investment Advisers Act of 1940 and the Employee Retirement Income Security Act of 1974 to specify requirements concerning the consideration of pecuniary and non-pecuniary factors, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Government Operations, Labor
Primary Purpose
This bill, To amend the Investment Advisers Act of 1940 and the Employee Retirement Income Security Act of 1974 to specify requirements concerning the consideration of pecuniary and non-pecuniary factors, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
Contextual inference, no direct clause citation- financial institutions, investors, and borrowers
Contextual inference, no direct clause citation
Identified Costs
Contextual inference, no direct clause citation- federal implementing agencies
- financial institutions, investors, and borrowers
Contextual inference, no direct clause citation
Sponsors
Legislative Progress
IntroducedMr. Cotton (for himself, Mr. Braun, Mr. Budd, Mr. Risch, …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_commission"
- → The commission identified in the operative section
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology