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Transfer of Securities Market Oversight to SEC

This bill transfers all powers and duties of national securities associations directly to the Securities and Exchange Commission (SEC). This means a single body will now be responsible for market oversight, potentially simplifying rules for investors and companies. The changes will take effect two years after the bill becomes law.
Key points
All existing duties and authorities of securities associations will be transferred to the Securities and Exchange Commission (SEC).
Any reference to securities associations in laws will now refer to the SEC.
The SEC has two years to prepare new rules before the changes become effective.
article Official text account_balance Process page
Introduced
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Additional Information
Print number: 119_HR_2689
Sponsor: Rep. McClain, Lisa C. [R-MI-9]
Process start date: 2025-04-07
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend the Securities Exchange Act of 1934 to transfer authorities and duties of registered national securities associations to the Securities and Exchange Commission.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_2689.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-04-07.

What are the main provisions?

Key points include:

  • All existing duties and authorities of securities associations will be transferred to the Securities and Exchange Commission (SEC).
  • Any reference to securities associations in laws will now refer to the SEC.
  • The SEC has two years to prepare new rules before the changes become effective.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. McClain, Lisa C. [R-MI-9].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Economy