Fair Fund Improvement Act

Referred to the House Committee on Financial Services.

Congressional Research Service

Official summary

Version 00 · Introduced in House · Jul 28, 2006

Fair Fund Improvement Act - Amends the Sarbanes-Oxley Act of 2002 to revise the requirement that, if the Securities Exchange Commission (SEC) obtains an order requiring disgorgement for a violation, and also obtains a civil penalty, such penalty shall, at SEC motion or discretion, be added to the disgorgement fund for the benefit of victims. Repeals the initial requirement for a disgorgement order. Declares that, if the SEC obtains a civil penalty for violation of securities laws, the penalty shall, upon SEC motion, be added to and become part of a disgorgement or other fund established for the benefit of the victims of such violation.

Authorizes the SEC to enter into contracts to retain private legal counsel to collect delinquent judgments and orders.

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People & committees

Who introduced it

Rep. Baker, Richard H. [R-LA-6] · R–LA

Committees

Financial Services Committee

4 cosponsorship records, including any withdrawals

Legislative record

Actions

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Jul 28, 2006
Referred to the House Committee on Financial Services.
Jul 28, 2006
Introduced in House
Jul 28, 2006
Introduced in House

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in House · Jul 28, 2006 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Aug 15, 2025. Consult Congress.gov for the current record.

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Neutral evidence review

Objective

Analyze H.R.5956 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Discuss H.R.5956, 109th Congress: Fair Fund Improvement Act

Official record: https://www.congress.gov/bill/109th-congress/house-bill/5956

Text version to examine: Introduced in House · 2006-07-28.

Official full text: https://www.congress.gov/109/bills/hr5956/BILLS-109hr5956ih.htm

Imported record last updated by the source: 2025-08-15T17:59:17Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze H.R.5956 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine H.R.5956 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Discuss H.R.5956, 109th Congress: Fair Fund Improvement Act

Official record: https://www.congress.gov/bill/109th-congress/house-bill/5956

Text version to examine: Introduced in House · 2006-07-28.

Official full text: https://www.congress.gov/109/bills/hr5956/BILLS-109hr5956ih.htm

Imported record last updated by the source: 2025-08-15T17:59:17Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.5956 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine H.R.5956 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

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Discuss H.R.5956, 109th Congress: Fair Fund Improvement Act

Official record: https://www.congress.gov/bill/109th-congress/house-bill/5956

Text version to examine: Introduced in House · 2006-07-28.

Official full text: https://www.congress.gov/109/bills/hr5956/BILLS-109hr5956ih.htm

Imported record last updated by the source: 2025-08-15T17:59:17Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.5956 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine H.R.5956 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss H.R.5956, 109th Congress: Fair Fund Improvement Act

Official record: https://www.congress.gov/bill/109th-congress/house-bill/5956

Text version to examine: Introduced in House · 2006-07-28.

Official full text: https://www.congress.gov/109/bills/hr5956/BILLS-109hr5956ih.htm

Imported record last updated by the source: 2025-08-15T17:59:17Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.5956 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.