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Competitive Market Supervision Act of 2001

Introduced: January 22, 2001 See on congress.gov
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 Everywhere this bill has been 15 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 25, 2001
Held at the desk.
May 25, 2001
Received in the House.
May 25, 2001
Message on Senate action sent to the House.
Mar 22, 2001
Passed Senate with an amendment by Unanimous Consent. (text: CR S2789-2792)
Mar 22, 2001
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(text: CR S2789-2792)
Mar 22, 2001
The committee substitute as amended agreed to by Unanimous Consent.
Mar 22, 2001
Measure laid before Senate by unanimous consent. (consideration: CR S2785-2792)
Mar 14, 2001
Placed on Senate Legislative Calendar under General Orders. Calendar No. 20.
Mar 14, 2001
Committee on Banking, Housing, and Urban Affairs. Reported by Senator Gramm with an amendment in the nature of a substitute. With written report No. 107-3. (text of measure as reported in Senate: CR 3/22/2001 S2785-2788)
Mar 14, 2001
Committee on Banking, Housing, and Urban Affairs. Reported by Senator Gramm with an amendment in the nature of a substitute. With written report No. 107-3.(text of measure as reported in Senate: CR 3/22/2001 S2785-2788)
Mar 1, 2001
Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
Feb 14, 2001
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 107-266.
Jan 22, 2001
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S416-418)
Jan 22, 2001
Sponsor introductory remarks on measure. (CR S415-416, S418-419)
Jan 22, 2001
Introduced in Senate
 Plain-English summary Congressional Research Service
Competitive Market Supervision Act of 2001 - Amends the Securities Act of 1933 to: (1) eliminate the general revenue fees on securities for the cost of the securities registration process; (2) set a uniform and higher rate for the offsetting collection fee schedule for FY 2002 through 2006; and (3) set a permanent rate for FY 2007 and thereafter (currently such rates phase out after FY 2006).

Amends the Securities Exchange Act of 1934 to revise the filing fees related to the purchase of securities by issuers and to preliminary proxy solicitations to reflect such modified offsetting collection fee schedule.

Mandates that fees collected during any fiscal year be deposited and credited as offsetting collections.

Replaces the statutory transaction fee formula governing a national securities exchange or national securities association with a transaction offsetting collection rate which is the uniform rate required to reach a specified transaction fee cap for the fiscal year.

Prescribes guidelines for fee rate adjustments, including: (1) estimates of collections; (2) a floor for total fee collections; and (3) a cap on total fee collections.

Instructs the Securities and Exchange Commission (SEC) to explain to certain congressional committees the methodology used to make its collections estimates.

Shields SEC determinations and actions from judicial review.

Requires the SEC to notify each national securities exchange or national securities association prior to taking action with respect to either a total fee collection floor or a total fee collection cap.

Revises guidelines governing SEC employee appointment and compensation to conform with guidelines covering Federal agency employees under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.

What's happening now May 25, 2001

Held at the desk.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1 Republican 1