S 3102
Investor Freedom Act of 2021
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, the Investor Freedom Act of 2021, aims to protect the practice of ‘payment for order flow,’ where stock brokerages receive compensation for directing customer orders to market makers. It prevents the Securities and Exchange Commission (SEC) from banning this practice, ensuring brokerages can continue to receive these payments. The bill seeks to preserve what supporters call ‘commission-free trading’ and maintain investor choice. It clarifies that receiving payment for order flow doesn’t automatically constitute an unlawful action.
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Primary sponsor
Patrick Toomey
Cosponsors
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