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US House panel backs investor protection bill

PTI
Wednesday, November 4, 2009 21:47 IST
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Washington: A bill to boost certain investor protection standards and beef up the US Securities and Exchange Commission was approved on Wednesday by a committee of the US House of Representatives.

The bill would order the SEC to set common client-care standards for brokers and investment advisers, while increasing the SEC''s budget and its enforcement powers. The measure must go next to the full House for a vote. Its outlook in the Senate was uncertain.

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