Gottheimer Amendment to Help Senior Investors Passes House
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.
In The News
WASHINGTON — Representatives from federal financial agencies defended their record on hiring women and minorities Tuesday while members of a congressional subcommittee accused them of an uninspired effort. “I’m not sensing that we’re making a lot of progress here,” said Rep. Sylvia Garcia, a Texas Democrat.... Read More
SEATTLE — Seattle Police Officer Ron Willis was exceptionally busy in 2019 — so much so that he crammed the work of two years into just one. Willis, a 58-year-old patrol officer, made $414,543.06 last year — more than the mayor, the police chief or any... Read More
WASHINGTON - United States Senators Susan Collins, R-Maine, and Bob Casey, D-Penn., the chairman and ranking member, respectively, of the Special Committee on Aging, released a report last week examining the challenges older women face preparing financially for retirement. During their later years, women on average... Read More
WASHINGTON - With decisions in several high profile cases pending -- including one on whether President Donald Trump can shield his financial records from Congressional scrutiny -- the U.S. Supreme court on Monday opted to rule on a case with quite a bit lower profile. By... Read More
The trading floor of the New York Stock Exchange reopened Tuesday, and though it was largely seen as a symbolic first step toward economic recovery, the financial markets opened with a surge of optimism. In early trading, the Dow Jones Industrial Average was up 600 points,... Read More
WASHINGTON - The rating agency Moody's downgraded its outlook for non-bank mortgage lenders in the U.S. from "stable" to "negative" on Thursday, warning the industry faces "intense" liquidity problems due to the ongoing coronavirus outbreak. As previously reported in The Well News, nonbank lenders like ABC... Read More