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Bad Actor Disqualification Act of 2017

Introduced: July 27, 2017 Introduced by: Waters, Maxine Democratic · California See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jul 27, 2017

Referred to the House Committee on Financial Services.

Jul 27, 2017

Introduced in House

Plain-English summary Congressional Research Service

Bad Actor Disqualification Act of 2017

This bill amends the Securities Exchange Act of 1934 to establish procedures for obtaining a waiver from automatic disqualification provisions in securities law. (These disqualifications prevent future participation in certain capital market activities by entities or individuals who have committed misconduct.) Waiver-seeking entities must petition the Securities and Exchange Commission (SEC), and, after a public hearing, the SEC may vote to grant the waiver if it: (1) is in the public interest, (2) is necessary for investor protection, and (3) promotes market integrity.

The bill also directs the Government Accountability Office to report on the SEC's current waiver process.

What's happening now July 27, 2017

Referred to the House Committee on Financial Services.

Committees of jurisdiction 1