119th Congress · House bill · Last action Oct 1, 2026
H.R. 10702In Committee
To amend the Employee Retirement Income Security Act of 1974 to provide that persons are fiduciaries with respect to the provision of retirement investment advice.
Sponsor: Rep. Scott, Robert C. "Bobby" (D-VA)Introduced Oct 1, 2026
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In plain English
H.R. 10702, sponsored by Rep. Robert C. "Bobby" Scott (D-VA), expands the definition of who counts as a fiduciary under federal retirement law to include people who give retirement investment advice. The bill amends the Employee Retirement Income Security Act of 1974 to impose fiduciary duties—legally binding obligations to act in clients' best interests—on retirement investment advisors, which typically requires them to prioritize client welfare over their own financial gain.
Generated by ThePolitibase from the bill text and CRS summary. Read the official text →
Where it is in the process
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Introduced
Oct 1
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House committee
Oct 1
3
House floor
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4
Senate
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5
Signed
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What happens next: Sits in committee. Needs a markup or favorable report to advance to the House floor.
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Activity timeline
Oct 1
1d ago
1d ago
Referred to the House Committee on Education and Workforce.
Oct 1
1d ago
1d ago
Introduced in House
Oct 1
1d ago
1d ago
Introduced in House
Read the bill text
Official text via Congress.gov. Opens in a new tab.
Full action log
All 3 recorded actions since introduction · Source: Congress.gov
Oct 1
HOUSEReferred to the House Committee on Education and Workforce.
Oct 1
Introduced in House
Oct 1
Introduced in House
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