Fairness in Securities Transactions Act

Fact Sheet API

Bill Number

HR 1311

Introduced

Mar 29, 2001

Latest Action

Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.

Sponsor

Cosponsors

Topics

Administrative fees Appropriations Commerce Congress Congressional reporting requirements Economics and Public Finance Federal employees Fees Finance and Financial Sector Government Operations and Politics Independent regulatory commissions Law Pay equity Salaries Securities and Exchange Commission Securities industry Securities regulation Stock exchanges

Full Text

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Votes

Summary

Fairness in Securities Transactions Act- Amends the Securities Exchange Act of 1934 to reduce (from one three-hundredth of one percent to one five-hundredth of one percent) the transaction fees designed to recover the costs to the Government of securities markets oversight and enforcement.

Replaces the fee structure for off-exchange trades of last-sale-reported securities with a fee structure for off-exchange trades of exchange-registered and last-sale-reported securities.

Provides that the fees so collected shall: (1) be deposited and credited as offsetting collections to the account providing appropriations to the Securities and Exchange Commission (SEC); and (2) not be deposited and credited as general revenue of the Treasury for specified fiscal years.

Sets forth requirements for pay parity for SEC employees.

Actions

Apr 10, 2001

Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
Mar 29, 2001

Referred to the House Committee on Financial Services.
Mar 29, 2001

Introduced in House

Amendments

Related Bills