Military Personnel Financial Services Protection Act

Summary

Military Personnel Financial Services Protection Act - Amends the Investment Company Act of 1940 to state it is unlawful: (1) for any registered investment company to issue any periodic payment plan certificate; or (2) for such company or any other person to sell such a certificate. Amends the Securities Exchange Act of 1934 to require a registered securities association to establish a system for collecting and retaining registration, disciplinary, and other information, including a toll-free telephone listing for prompt response to inquiries regarding registration information on members. Amends the Investment Advisers Act of 1940 to authorize the Securities and Exchange Commission (SEC) to require an investment adviser to file with the SEC, through any designated entity, any fee, application, report, or notice required to be filed. Directs the SEC to require such entity to establish and maintain a toll-free telephone listing, or a readily accessible electronic or other process, to receive and promptly respond to inquiries regarding registration, disciplinary, and other information involving investment advisers and associated persons. States that any State law, regulation, or order regarding the business of insurance shall apply to insurance activities conducted on Federal land or facilities in the United States and abroad, including military installations, unless specified conditions exist. Prohibits an insurer or producer from selling or soliciting in person any life insurance product to any member of the Armed Forces on a Federal military installation, unless specified written disclosures have been provided before the sale. Expresses the sense of Congress that the National Association of Insurance Commissioners should study and report to certain congressional committees on ways of improving the quality and sale of life insurance products sold by insurers and producers on Federal military installations. Prohibits any insurer from contracting with an insurance producer that solicits or sells life insurance on U.S. military installations unless the insurer has implemented a system to report to certain State insurance commissioners any disciplinary actions taken against the producer with respect to such sales or solicitations. 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.

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Timeline

1. 17 February 2005

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

   Source: IntroReferral

2. 17 February 2005

   Introduced

   Sponsor introductory remarks on measure. (CR S1632)

   Source: IntroReferral

3. 17 February 2005

   Introduced

   Introduced in Senate

   Source: IntroReferral

4. 14 June 2006

   Reported

   Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.

   Source: Committee

5. 13 July 2006

   Calendars

   Placed on Senate Legislative Calendar under General Orders. Calendar No. 518.

   Source: Calendars

6. 13 July 2006

   Reported

   Committee on Banking, Housing, and Urban Affairs. Reported by Senator Shelby with an amendment in the nature of a substitute. With written report No. 109-282.

   Source: Committee

7. 13 July 2006

   Reported

   Committee on Banking, Housing, and Urban Affairs. Reported by Senator Shelby with an amendment in the nature of a substitute. With written report No. 109-282.

   Source: Committee

8. 19 July 2006

   Floor

   Measure laid before Senate by unanimous consent. (consideration: CR S7941-7944)

   Source: Floor

9. 19 July 2006

   Passed

   Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(text: CR S7944)

   Source: Floor

10. 20 July 2006

    Floor

    Held at the desk.

    Source: Floor

11. 20 July 2006

    Floor

    Message on Senate action sent to the House.

    Source: Floor

12. 20 July 2006

    Floor

    Received in the House.

    Source: Floor

13. 20 September 2006

    Vote

    At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.

    Source: Floor

14. 20 September 2006

    Floor

    DEBATE - The House proceeded with forty minutes of debate on S. 418.

    Source: Floor

15. 20 September 2006

    Floor

    Considered under suspension of the rules. (consideration: CR H6786-6792)

    Source: Floor

16. 20 September 2006

    Floor

    Mr. Davis (KY) moved to suspend the rules and pass the bill.

    Source: Floor

17. 21 September 2006

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

18. 21 September 2006

    Vote

    On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 418 - 3 (Roll no. 463). (text: CR 9/20/2006 H6786-6789)

    Source: Floor

19. 21 September 2006

    Vote

    Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 418 - 3 (Roll no. 463).(text: CR 9/20/2006 H6786-6789)

    Source: Floor

20. 21 September 2006

    Floor

    Considered as unfinished business. (consideration: CR H6861-6862)

    Source: Floor

21. 25 September 2006

    Floor

    Presented to President.

    Source: Floor

22. 25 September 2006

    President

    Presented to President.

    Source: President

23. 29 September 2006

    Became law

    Became Public Law No: 109-290.

    Source: President

24. 29 September 2006

    Became law

    Signed by President.

    Source: BecameLaw

25. 29 September 2006

    President

    Signed by President.

    Source: President

Votes

No vote records are attached yet.

Versions

• Enrolled Bill · — · Download file
• Public Law · 29 September 2006 · Download file
• Engrossed in Senate · 19 July 2006 · Download file
• Reported to Senate · 13 July 2006 · Download file
• Introduced in Senate · 17 February 2005 · Download file

Documents

15 official files

• Enrolled Bill (text)

  Enrolled Bill · EN

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• Enrolled Bill (PDF)

  Enrolled Bill · EN

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  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Public Law (text)

  Public Law · EN · 29 September 2006

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  Vertaal document

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• Public Law (PDF)

  Public Law · EN · 29 September 2006

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  Vertaal document

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• Public Law

  summary · EN · 29 September 2006

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  Vertaal document

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• Passed House without amendment

  summary · EN · 21 September 2006

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  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Engrossed in Senate (text)

  Engrossed in Senate · EN · 19 July 2006

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  Vertaal document

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• Engrossed in Senate (PDF)

  Engrossed in Senate · EN · 19 July 2006

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  Vertaal document

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• Passed Senate amended

  summary · EN · 19 July 2006

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  Vertaal document

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• Reported to Senate (text)

  Reported to Senate · EN · 13 July 2006

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  Vertaal document

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• Reported to Senate (PDF)

  Reported to Senate · EN · 13 July 2006

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  Vertaal document

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• Reported to Senate with amendment(s)

  summary · EN · 13 July 2006

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  Vertaal document

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• Introduced in Senate (text)

  Introduced in Senate · EN · 17 February 2005

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  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 17 February 2005

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  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Introduced in Senate

  summary · EN · 17 February 2005

  Open at official source

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  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Enzi, Michael B. [R-WY] · R · Sponsor
• Sen. Clinton, Hillary Rodham [D-NY] · D · Sponsor
• Sen. Hagel, Chuck [R-NE] · R · Sponsor
• Sen. Schumer, Charles E. [D-NY] · D · Sponsor
• Sen. Kennedy, Edward M. [D-MA] · D · Cosponsor
• Sen. Bingaman, Jeff [D-NM] · D · Cosponsor
• Sen. Wyden, Ron [D-OR] · D · Cosponsor
• Sen. Durbin, Richard J. [D-IL] · D · Cosponsor
• Sen. Bunning, Jim [R-KY] · R · Cosponsor
• Sen. Nelson, Bill [D-FL] · D · Cosponsor
• Sen. Reed, Jack [D-RI] · D · Cosponsor
• Sen. Dodd, Christopher J. [D-CT] · D · Cosponsor
• Sen. Burns, Conrad R. [R-MT] · R · Cosponsor
• · ssbk00 · Standing

Related records

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• related to → Military Personnel Financial Services Protection Act
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