Section 1 Short title
This Act may be cited as the “Business Owners Protection Act of 2025”.
Business Owners Protection Act of 2025
A BILL
To terminate unused authorities of the Securities and Exchange Commission that were established pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Sec. 2 Repeal of certain unused authority to restrict mandatory predispute arbitration
Sec. 3 Removal of certain authority related to fiduciary duties
Securities Exchange Act of 1934— The second subsection (l) of section 15 of the Securities Exchange Act of 1934 (15 U.S.C. 78o; relating to “Other matters”) is amended—
by striking “Commission shall” and all that follows through “(1) facilitate” and inserting “Commission shall facilitate”;
in paragraph (1), by striking “; and” and inserting a period; and
by striking paragraph (2).
Investment Advisers Act of 1940— Section 211(h) of the Investment Advisers Act of 1940 (15 U.S.C. 80b–11(h)) is amended—
by striking “Commission shall” and all that follows through “(1) facilitate” and inserting “Commission shall facilitate”;
in paragraph (1), by striking “; and” and inserting a period; and
by striking paragraph (2).
Sec. 4 Repeal of certain unused authority related to standards of conduct
Section 15 of the Securities Exchange Act of 1934 (15 U.S.C. 78o) is amended by repealing the second subsection (k) (relating to “Standard of Conduct”).