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House Bill 3555
115th Congress(2017-2018)
Exchange Regulatory Improvement Act
Introduced
Introduced
Introduced in House on Jul 28, 2017
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H. R. 3555 (Introduced-in-House)


115th CONGRESS
1st Session
H. R. 3555


To amend the Securities Exchange Act of 1934 to provide that the definition of a facility of an exchange does not apply to a line of business the purpose of which is not to effect or report a transaction on an exchange.

IN THE HOUSE OF REPRESENTATIVES

July 28, 2017

Mr. Loudermilk (for himself, Mr. Meeks, Mr. Hultgren, Mr. David Scott of Georgia, and Mr. Zeldin) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Securities Exchange Act of 1934 to provide that the definition of a facility of an exchange does not apply to a line of business the purpose of which is not to effect or report a transaction on an exchange.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Exchange Regulatory Improvement Act”.

SEC. 2. Facility defined.

Section 3(a)(2) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(2)) is amended by striking the period at the end and inserting the following: “for the purpose of effecting or reporting a transaction on an exchange. Such term does not include any premises or property, or the right to use any premises, property, or service, to the extent such premises or property is used with respect to, or such right relates to use with respect to, a line of business the purpose of which is not to effect or report a transaction on an exchange.”.