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Rating:Bill Banning Soft Dollars Introduced in the House Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, June 16, 2004

Bill Banning Soft Dollars Introduced in the House

by: Theresa Sim

Congressman Paul Gillmore (R, Ohio) introduced the companion bill to the Mutual Fund Reform Act in the House on June 3.

Gillmore is the primary and only sponsor of the House bill. The bill was referred to the House Financial Services Committee, which is headed up by Michael Oxley (R, Ohio).

The bill, which calls for the repeal of the 12(b)-1 provision, among other things, was introduced on February 10 in the Senate by Senator Peter Fitzgerald (R, Illinois), with co-sponsorship by Senators Carl Levin (D, Michigan) and Susan Collins (R, Maine). Besides the three primary sponsors, nine other senators are also co-sponsoring the bill, with John McCain (R, Arizona) the latest to join.

In the Senate, MFRA was referred to the Committee on Banking, Housing, and Urban Affairs. The Senate committee is headed by Richard Shelby (R, Alabama), with Paul S. Sarbanes (D, Maryland) serving as ranking member. 

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