PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Congressional Research Service
Version 00 · Introduced in House · Sep 23, 2011
Retirement Income Protection Act of 2011 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to declare that no person shall be considered a fiduciary to an employee benefit plan (special entity) by reason of that person's performing any service, act, or duty as a swap dealer, major swap participant, security-based swap dealer, or major security-based swap participant with respect to such entity.
Amends the Commodity Exchange Act (CEA) and the Securities Exchange Act of 1934 to redefine "special entity" to exclude from its meaning as well as from certain business conduct standards: (1) employee benefit plans, and (2) any collective investment vehicle in which one or more special entities invest.
Declares that no swap dealer shall be treated as an advisor to a Special Entity (and thus subject to specified duties and restrictions related to fraudulent, deceptive, or manipulative behavior) if: (1) the Special Entity represents in writing that it will not rely on recommendations of the swap dealer, but will rely on advice from an independent representative; and (2) the swap dealer discloses to the Special Entity that it is not undertaking to act in the Special Entity 's best interests. Declares further that no swap dealer shall be considered to act as an advisor to a Special Entity solely by reason of providing information to an independent representative of a Special Entity.
Showing the opening paragraphs of the official summary.
Prescribes criteria for considering a representative of a Special Entity to be independent of a swap dealer.
People & committees
Rep. Canseco, Francisco "Quico" [R-TX-23] · R–TX
Legislative record
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Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Forwarded by Subcommittee to Full Committee by the Yeas and Nays: 19 - 14 .
Subcommittee Consideration and Mark-up Session Held.
Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Referred to the Subcommittee on General Farm Commodities and Risk Management.
Referred to the Committee on Agriculture, and in addition to the Committees on Education and the Workforce, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Agriculture, and in addition to the Committees on Education and the Workforce, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Agriculture, and in addition to the Committees on Education and the Workforce, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Mar 23, 2026. Consult Congress.gov for the current record.
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