Reported in House
Business Owners Protection Act of 2025
SEC. 1. SHORT TITLETrack this section →
This Act may be cited as the Business Owners Protection Act of 2025.
SEC. 2. REPEAL OF CERTAIN UNUSED AUTHORITY TO RESTRICT MANDATORY PREDISPUTE ARBITRATIONTrack this section →
(a) In general Section 15 of the Securities Exchange Act of 1934 (15 U.S.C. 78o) is amended by repealing subsection (o). (b) Conforming amendment Section 921 of the Investor Protection and Securities Reform Act of 2010 is amended by striking subsection (a).
SEC. 3. REMOVAL OF CERTAIN AUTHORITY RELATED TO FIDUCIARY DUTIESTrack this section →
(a) Securities Exchange Act of 1934 The second subsection (l) of section 15 of the Securities Exchange Act of 1934 (15 U.S.C. 78o; relating to Other matters) is amended— (1) by striking Commission shall and all that follows through (1) facilitate and inserting Commission shall facilitate; (2) in paragraph (1), by striking; and and inserting a period; and (3) by striking paragraph (2). (b) Investment Advisers Act of 1940 Section 211(h) of the Investment Advisers Act of 1940 (15 U.S.C. 80b–11(h)) is amended— (1) by striking Commission shall and all that follows through (1) facilitate and inserting Commission shall facilitate; (2) in paragraph (1), by striking; and and inserting a period; and (3) by striking paragraph (2).
SEC. 4. REPEAL OF CERTAIN UNUSED AUTHORITY RELATED TO STANDARDS OF CONDUCTTrack this section →
Section 15 of the Securities Exchange Act of 1934 (15 U.S.C. 78o) is amended by repealing the second subsection (k) (relating to Standard of Conduct).