H.R. 2358 Congress 119 session
ESG Act of 2025
Ensuring Sound Guidance Act of 2025 or the ESG Act of 2025 This bill further defines the best interest of a customer for purposes of the standard of conduct for all brokers, dealers, and investment advisers. Currently, these professionals must act in the best interest of the customer without regard to the financial or other interests of the professional providing the advice. The bill adds that the best interest standard must be based on pecuniary factors (i.e., a factor that a fiduciary determines will have a material effect on an investment's performance) unless the customer otherwise directs. In addition, the Securities and Exchange Commission must report on (1) municipal bond disclosures regarding climate change and environmental matters, and (2) the effectiveness of specified rules in preventing the payment of government officials or candidates in exchange for government business in connection with the sale or offer of municipal securities.
Status
- Introduced
- Committee
- Floor vote
- Passed
- Enacted
In committee — last recorded action March 26, 2025
Referred to the House Committee on Financial Services.
Passage likelihood
3% Much lower than most bills at this stage
This is an estimate, not a guarantee. It is computed from the signals listed below and nothing else. It does not account for leadership priorities, floor scheduling, or negotiations that are not in the public record.
What the estimate is based on
- Historical base rate About 4% of introduced federal bills are enacted.
- Current stage Referred to committee.
- Cosponsors 1 cosponsor.
- Days without action No recorded action in 513 days.
State-level impact
State-level impact data is not available for this bill. The source text does not contain a per-state funding formula or scored breakdown, so no figures are shown.
Official actions
- Referred to the House Committee on Financial Services.
- Introduced in House
- Introduced in House