HR 4619
117th Congress
House
Finance and Financial Sector
Civil actions and liability
Corporate finance and management
Financial services and investments
Securities
To amend the Securities Exchange Act of 1934 to prohibit trading ahead by market makers, and for other purposes.
Everywhere this bill has been
5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 29, 2021
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 27 - 22.
Jul 29, 2021
Committee Consideration and Mark-up Session Held.
Jul 28, 2021
Committee Consideration and Mark-up Session Held.
Jul 22, 2021
Referred to the House Committee on Financial Services.
Jul 22, 2021
Introduced in House
Plain-English summary
This bill creates specified duties for market makers—individuals and firms that buy and sell securities, such as brokerage houses—and sets forth penalties for violations of those duties. Specifically, the bill establishes for market makers a duty of trust and loyalty to the customer upon receipt of an order and deems the information in the order as material, non-public information. Furthermore, the Chief Executive Officer of a market maker must annually certify compliance with such responsibilities. The bill establishes civil and criminal penalties for violations.
What's happening now
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 27 - 22.
Committees of jurisdiction
1
Cosponsors
1