HR 7127
Restoring the Secondary Trading Market Act
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Restoring the Secondary Trading Market Act, aims to prevent states from restricting how stocks are traded outside of traditional stock exchanges. It does this by exempting off-exchange trading of securities from state regulations, as long as the company selling the stock provides current financial information to the public in accordance with federal rules. The goal is to increase investor choice and reduce barriers to trading.
Key provisions
- Prevents states from banning off-exchange stock trading.
- Applies to securities issued by companies that publicly disclose financial information.
- Exempts trading based on information required by the Securities and Exchange Commission (SEC).
- Specifically references periodic and current reports and documents outlined in SEC regulations.
Who is affected
- Investors
- Stockbrokers
- Publicly traded companies
- State regulators
- The Securities and Exchange Commission (SEC)
Notable changes
- Expands the scope of securities trading beyond traditional exchanges.
- Creates a federal standard for off-exchange trading regulations.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.
119th CONGRESS — 2d Session
H. R. 7127
IN THE HOUSE OF REPRESENTATIVES
A BILL
To amend the Securities Act of 1933 to exempt off-exchange secondary trading from State regulation where such trading is with respect to securities of an issuer that makes publicly available certain current information, and for other purposes.
This Act may be cited as the Restoring the Secondary Trading Market Act
.
Section 18(a) of the Securities Act of 1933 (15 U.S.C. 77r(b)(4)) is amended—
in paragraph (2), by striking or
at the end;
in paragraph (3), by striking the period at the end and inserting ; or
; and
by adding at the end the following: