H.R. 4619 · 117th Congress · House

To amend the Securities Exchange Act of 1934 to prohibit trading ahead by market makers, and for other purposes.

Active· Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 27 - 22.
Introduced
Jul 22, 21
Passed House
Pending
Passed Senate
Pending
Sent to President
Pending
Signed into Law
Pending

Executive 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.

Action Timeline

6
  1. JUL 29, 2021Committee

    Committee Consideration and Mark-up Session Held.

  2. JUL 29, 2021Committee

    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 27 - 22.

    27Yea
    22Nay
    0NV
  3. JUL 28, 2021Committee

    Committee Consideration and Mark-up Session Held.

  4. JUL 22, 2021IntroReferral

    Introduced in House

  5. JUL 22, 2021IntroReferral

    Introduced in House

  6. JUL 22, 2021IntroReferral

    Referred to the House Committee on Financial Services.

Committees

3

Financial Services Committee

hsba00

Referred: Jul 29, 2021

Active

Financial Services Committee

hsba00

Referred: Jul 28, 2021

Active

Financial Services Committee

hsba00

Referred: Jul 22, 2021

Active