Bond Transparency Act of 2014
Latest action · Mar 12, 2014 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 12, 2014
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Bond Transparency Act of 2014 - Amends the Securities Exchange Act of 1934 to define a "riskless principal transaction" as any transaction the Securities and Exchange Commission (SEC) identifies as one, but primarily one in which a broker, dealer, or municipal securities dealer acts on a customer order to buy or sell either municipal securities or corporate debt securities while also acting as principal for its own account in order to complete the transaction.
Requires a broker or dealer, at or before completion of the transaction, to make a markup disclosure in writing to the customer of the difference between either: (1) the customer's purchase price and the broker or dealer's purchase price; or (2) the customer's sale price and the broker or dealer's sale price.
Subjects riskless principal transactions in corporate debt securities to the same markup disclosure requirements as those for riskless principal transactions in municipal securities.
Cosponsors 1
Members who signed on, in the order they did. All signed on Mar 12, 2014.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-OK | Tom Coburn | Original | Mar 12, 2014 |
Actions 2
Everything that happened, newest first.
- Mar 12, 2014Introduced in Senate
- Mar 12, 2014Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Mar 12, 2014Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.