H.R. 4619 · 117th Congress
To amend the Securities Exchange Act of 1934 to prohibit trading ahead by market makers, and for other…
Full title
To amend the Securities Exchange Act of 1934 to prohibit trading ahead by market makers, and for other purposes.
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
GreenSponsor2 cosponsors · 2 D
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in House · Jul 22, 2021
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Securities Exchange Act of 1934 to prohibit trading ahead by market makers, and for other purposes.
Latest action (Jul 29, 2021): Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 27 - 22.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jul 22, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.