End Congressional Stock Market Abuse Act of 2017
Latest action · May 1, 2017 Referred to the House Committee on Financial Services.
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.
- IntroducedMay 1, 2017
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
End Congressional Stock Market Abuse Act of 2017
This bill amends the Securities Exchange Act of 1934 to prohibit Members of Congress from: (1) receiving a discounted purchase price or a premium sales price in a securities transaction, or (2) purchasing a nonpublic offering of a covered security available on a U.S. or foreign exchange.
This prohibition shall not apply if the Member of Congress reasonably believes that the discount or premium was obtained in a manner generally available to the public.
Cosponsors 1
Members who signed on, in the order they did. All signed on Jun 6, 2017.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NH | Carol Shea-Porter | Jun 6, 2017 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred May 1, 2017 |
Actions 2
Everything that happened, newest first.
- May 1, 2017Introduced in House
- May 1, 2017Referred to the House Committee on Financial Services.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 163, no. 74, May 1, 2017, page H3004.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 350 | End Congressional Stock Market Abuse Act of 2017 | Related bill | Feb 9, 2017 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Securities Exchange Act of 1934 to prohibit Members of Congress from receiving a discounted price in certain private offerings of securities.
- Short Titles as Introduced
- End Congressional Stock Market Abuse Act of 2017
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- May 1, 2017Introduced in House
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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
