U.S. House panel backs investor protection bill
WASHINGTON |
WASHINGTON Nov 4 (Reuters) - A bill to boost certain investor protection standards and beef up the U.S. Securities and Exchange Commission was approved on Wednesday by a committee of the U.S. House of Representatives.
The bill would order the SEC to set common client-care standards for brokers and investment advisers, while increasing the SEC's budget and its enforcement powers.
The measure must go next to the full House for a vote. Its outlook in the Senate was uncertain. (Reporting by Kevin Drawbaugh; Editing by James Dalgleish)
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