,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #hahh  ,,in ,,the ,,house ,,of  
,,representatives  ,september #h1       
#bjbj,mr4 ,emmer introduced the         
following bill2 which was referred to   
the ,committee on ,financial ,services1 
and in addition to the ,committee on the
 ,judiciary1 for a period to be         
subsequently determined by the ,speaker1
 in each case for consideration of such 
provisions as fall within the           
jurisdiction of the committee concerned 
,a ,,bill  ,to amend the ,investment    
,company ,act of #aidj to provide       
complaint and burden of proof           
requirements for certain actions for    
breach of fiduciary duty4  #a4 ,short   
title ,this ,act may be cited as the    
,mutual ,fund ,litigation ,reform ,act4 
#b4 ,complaint and burden of proof      
requirements for certain actions for    
breach of fiduciary duty ,section       
#cf7;b7 of the ,investment ,company ,act
 of #aidj 7#ae ,u4,s4,c4 #hj;a-#ce7;b77 
is amended by adding at the end the     

following3  7#g7 ,in any such action    
brought by a security holder of a       
registered investment company on behalf 
of such company-- 7,a7 the complaint    
shall state with particularity all facts
 establishing a breach of fiduciary     
duty1 and1 if an allegation of any such 
facts is based on information and       
belief1 the complaint shall state with  
particularity all facts on which that   
belief is formed2 and  7,b7 such        
security holder shall have the burden of
 proving a breach of fiduciary duty by  
clear and convincing evidence4  4