| 1 | 1 | | I |
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| 2 | 2 | | 118THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION H. R. 2506 |
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| 5 | 5 | | To amend the Securities Act of 1933 to exempt off-exchange secondary |
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| 6 | 6 | | trading from State regulation where such trading is with respect to |
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| 7 | 7 | | securities of an issuer that makes publicly available certain current |
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| 8 | 8 | | information, and for other purposes. |
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| 9 | 9 | | IN THE HOUSE OF REPRESENTATIVES |
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| 10 | 10 | | APRIL6, 2023 |
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| 11 | 11 | | Mr. M |
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| 12 | 12 | | EUSERintroduced the following bill; which was referred to the |
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| 13 | 13 | | Committee on Financial Services |
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| 14 | 14 | | A BILL |
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| 15 | 15 | | To amend the Securities Act of 1933 to exempt off-exchange |
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| 16 | 16 | | secondary trading from State regulation where such trad- |
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| 17 | 17 | | ing is with respect to securities of an issuer that makes |
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| 18 | 18 | | publicly available certain current information, and for |
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| 19 | 19 | | other purposes. |
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| 20 | 20 | | Be it enacted by the Senate and House of Representa-1 |
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| 21 | 21 | | tives of the United States of America in Congress assembled, 2 |
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| 22 | 22 | | SECTION 1. SHORT TITLE. 3 |
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| 23 | 23 | | This Act may be cited as the ‘‘Restoring the Sec-4 |
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| 24 | 24 | | ondary Trading Market Act’’. 5 |
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| 25 | 25 | | VerDate Sep 11 2014 22:51 Apr 13, 2023 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H2506.IH H2506 |
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| 26 | 26 | | pbinns on DSKJLVW7X2PROD with $$_JOB 2 |
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| 27 | 27 | | •HR 2506 IH |
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| 28 | 28 | | SEC. 2. EXEMPTION FROM STATE REGULATION. 1 |
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| 29 | 29 | | Section 18(a) of the Securities Act of 1933 (15 2 |
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| 30 | 30 | | U.S.C. 77r(b)(4)) is amended— 3 |
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| 31 | 31 | | (1) in paragraph (2), by striking ‘‘or’’ at the 4 |
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| 32 | 32 | | end; 5 |
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| 33 | 33 | | (2) in paragraph (3), by striking the period at 6 |
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| 34 | 34 | | the end and inserting ‘‘; or’’; and 7 |
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| 35 | 35 | | (3) by adding at the end the following: 8 |
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| 36 | 36 | | ‘‘(4) shall directly or indirectly prohibit, limit, 9 |
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| 37 | 37 | | or impose any conditions upon the off-exchange sec-10 |
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| 38 | 38 | | ondary trading in securities of an issuer that makes 11 |
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| 39 | 39 | | current information publicly available, including— 12 |
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| 40 | 40 | | ‘‘(A) the information required in the peri-13 |
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| 41 | 41 | | odic and current reports described under para-14 |
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| 42 | 42 | | graph (b) of section 230.257 of title 17, Code 15 |
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| 43 | 43 | | of Federal Regulations; or 16 |
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| 44 | 44 | | ‘‘(B) the documents and information speci-17 |
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| 45 | 45 | | fied in paragraph (b) of section 15c2–11 of title 18 |
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| 46 | 46 | | 17, Code of Federal Regulations.’’. 19 |
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| 47 | 47 | | Æ |
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| 48 | 48 | | VerDate Sep 11 2014 22:51 Apr 13, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H2506.IH H2506 |
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| 49 | 49 | | pbinns on DSKJLVW7X2PROD with $$_JOB |
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