Military Personnel Financial Services Protection Act
Sponsor: MICHAEL ENZI (R-WY)
Military Personnel Financial Services Protection Act - (Sec. 4) Amends the Investment Company Act of 1940 to make it unlawful for any registered investment company to issue or sell any periodic payment plan certificate. Retains the validity of certain previously issued certificates. Directs the Securities and Exchange Commission (SEC) to report to certain congressional committees on: (1) measures taken by a registered broker or dealer to refund voluntarily payments made by military service members on any periodic payment plan certificate, and the amounts of such refunds; (2) the sales practices of such brokers or dealers on military installations over the five years preceding submission of the report, and any legislative or regulatory recommendations to improve such practices; and (3) the revenues generated by such brokers or dealers in the sales of periodic payment plan certificates over such five-year period, and the products marketed by them to replace the revenue generated from the sales of prohibited certificates.
Finance and Financial Sector Topic assigned by the Congressional Research Service.
Who won, and how much of the country was behind them
The dotted gap is 3.2% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Yea | Won | 418 | 96.0% |
| Nay | Lost | 3 | 0.8% |
| Not represented on this question | No position taken | 0 | 3.2% |