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House Bill 4546
115th Congress(2017-2018)
National Securities Exchange Regulatory Parity Act
Introduced
Introduced
Introduced in House on Dec 5, 2017
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Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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H. R. 4546 (Introduced-in-House)


115th CONGRESS
1st Session
H. R. 4546


To amend the Securities Act of 1933 to specify when a nationally traded security is exempt from State regulation of security offerings.

IN THE HOUSE OF REPRESENTATIVES

December 5, 2017

Mr. Royce of California (for himself and Mr. Hultgren) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Securities Act of 1933 to specify when a nationally traded security is exempt from State regulation of security offerings.

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 “National Securities Exchange Regulatory Parity Act”.

SEC. 2. Nationally traded securities exemption.

Section 18(b)(1) of the Securities Act of 1933 (15 U.S.C. 77r(b)(1)) is amended—

(1) by striking subparagraph (A);

(2) in subparagraph (B)—

(A) by inserting “a security designated as qualified for trading in the national market system pursuant to section 11A(a)(2) of the Securities Exchange Act of 1934 that is” before “listed”; and

(B) by striking “that has listing standards that the Commission determines by rule (on its own initiative or on the basis of a petition) are substantially similar to the listing standards applicable to securities described in subparagraph (A)”;

(3) in subparagraph (C), by striking “or (B)”; and

(4) by redesignating subparagraphs (B) and (C) as subparagraphs (A) and (B), respectively.