Gottheimer Amendment to Help Senior Investors Passes House

October 18, 2019 by Dan McCue
The U.S. Securities and Exchange Commission in Washington, D.C. (Photo by Dan McCue)

WASHINGTON – The House has passed an amendment offered on the floor by Rep. Josh Gottheimer that will ensure the U.S. Securities and Exchange Commission gives specific consideration to senior investors and the challenges they face.

The amendment to H.R. 1815, the SEC Disclosure Effectiveness Testing Act, received bipartisan support, passing by a vote of 240-178.

“Since I took office, I have been committed to helping seniors save their hard-earned money for retirement, so they can afford to stay in New Jersey and enjoy their lives with their kids and grandkids,” the New Jersey Democrat said. 

“This amendment is another critical step in making sure that the SEC continues to do right by our seniors, by making sure there is explicit consideration of senior investors as they proceed with investor testing,” he added.

The measure requires that the disclosures retail investors rely on to help make informed financial decisions more clearly convey critically important cost and risk information.

 Watch Gottheimer’s remarks on the House floor here.

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