3.0.0 461 2019-11-15T20:53:26Z 2019-11-15T20:53:26Z House H HR 2005-02-01 109 hsba00 Financial Services Committee House Standing Referred to 2005-02-01T19:09:30Z Military Personnel Financial Services Protection Act 109 418 S 2006-09-29 Became Public Law No: 109-290. Related bill CRS Military Personnel Financial Services Protection Act 109 458 HR 2005-06-28 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Identical bill CRS 2005-02-01 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2005-02-01 Introduced in House IntroReferral Intro-H 9 Library of Congress 2005-02-01 Introduced in House IntroReferral 1000 9 Library of Congress E000287 Rep. Emanuel, Rahm [D-IL-5] Rahm Emanuel D IL 5 N E000063 Rep. Edwards, Chet [D-TX-17] CHET EDWARDS D TX 17 2005-02-01 True T000057 Rep. Tauscher, Ellen O. [D-CA-10] ELLEN TAUSCHER D CA O. 10 2005-02-09 False W000187 Rep. Waters, Maxine [D-CA-35] MAXINE WATERS D CA 35 2005-02-09 False E000179 Rep. Engel, Eliot L. [D-NY-17] ELIOT ENGEL D NY L. 17 2005-02-09 False O000159 Rep. Owens, Major R. [D-NY-11] MAJOR OWENS D NY R. 11 2005-02-09 False D000096 Rep. Davis, Danny K. [D-IL-7] DANNY DAVIS D IL K. 7 2005-02-15 False C001055 Rep. Case, Ed [D-HI-2] Ed Case D HI 2 2005-02-17 False Finance and Financial Sector Administrative procedure Armed Forces and National Security Brokers Choice of law Civil service retirement Commerce Congress Congressional investigations Congressional reporting requirements Consumer complaints Consumer education Consumer protection Data banks Department of Defense Directories Disciplining of employees Electronic data interchange Families Federal employees Federal-state relations Financial services Fraud Government Operations and Politics Government life insurance Government paperwork Grievance procedures Independent regulatory commissions Information disclosure (Securities law) Insurance Insurance agents Insurance companies Investment advisers Investments Jurisdiction Labor and Employment Law Legislation Liability (Law) Licenses Life insurance Military bases Military dependents Military pensions Military personnel Mutual funds Personal budgets Professional associations Public Lands and Natural Resources Restrictive trade practices Sales promotion Science, Technology, Communications Securities and Exchange Commission Securities industry Securities regulation Standards State laws Tax-deferred compensation plans Telephone User charges Finance and Financial Sector 00 2005-02-01 Introduced in House 2005-02-15T21:04:36Z Military Personnel Financial Services Protection Act - Amends the Investment Company Act of 1940 to make it unlawful: (1) for any registered investment company to issue any periodic payment plan certificate; or (2) for such company or any depositor or underwriter of such company, or other person, to sell such a certificate.

Directs the Securities and Exchange Commission (SEC) to report to specified congressional committees on: (1) any measures taken by a registered broker or dealer voluntarily to refund payments made by military service members on any such certificate; and (2) the sales practices of such brokers or dealers on military installations over the past five years.

Amends the Securities Exchange Act of 1934 to require a registered securities association to establish and maintain: (1) a system for collecting and retaining broker/dealer registration information; and (2) a toll-free telephone listing, and a readily accessible process to respond promptly to registration information inquiries.

Amends the Investment Advisers Act of 1940 to authorize the SEC to require an investment adviser to file with the SEC certain documentation. Directs the SEC to require such entity to maintain a toll–free telephone listing or other readily accessible process to receive and promptly respond to registration, disciplinary, and other relevant inquiries.

Prohibits an insurer or producer from: (1) selling or soliciting, in person, any life insurance product to any member of the Armed Forces on a Federal military installation unless certain written disclosures have been provided before the sale; or (2) contracting with an insurance producer that solicits or sells life insurance on U.S. military installations unless the insurer has implemented a system for reporting any disciplinary actions against the producer to the appropriate State insurance commissioner.

Requires the Secretary of Defense to establish a registry of insurance agents and financial advisors that have been barred or banned from doing business on Federal military installations.

]]> Military Personnel Financial Services Protection Act Short Titles as Introduced Military Personnel Financial Services Protection Act Official Title as Introduced To prevent the sale of abusive insurance and investment products to military personnel. Display Title Military Personnel Financial Services Protection Act Introduced in House 2005-02-01T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr461ih/xml/BILLS-109hr461ih.xml 2005-02-01 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.