Market Data Protection Act of 2017
Latest action · Nov 14, 2017 Received in the Senate and 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.
- IntroducedOct 5, 2017
- Passed HouseNov 13, 2017
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Market Data Protection Act of 2017
(Sec. 2) This bill amends the Securities Exchange Act of 1934 to require the Securities and Exchange Commission, the Financial Industry Regulatory Authority, and the operator of the consolidated audit trail (a database that tracks trading in equities and options markets) to develop internal risk control mechanisms to protect stored market data.
The operator of the consolidated audit trail may not accept market data until these mechanisms are developed.
Cosponsors 1
Members who signed on, in the order they did. All signed on Oct 5, 2017.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CA | Brad Sherman | Original | Oct 5, 2017 |
Committees 2
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 Oct 5, 2017Markup Oct 12, 2017Reported Nov 9, 2017 |
| Senate | Banking, Housing, and Urban Affairs Committee | Referred Nov 14, 2017 |
Actions 13
Everything that happened, newest first.
- Nov 14, 2017Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Nov 13, 2017Mr. Huizenga moved to suspend the rules and pass the bill.
- Nov 13, 2017Considered under suspension of the rules. (consideration: CR H9140-9142)
- Nov 13, 2017DEBATE - The House proceeded with forty minutes of debate on H.R. 3973.
- Nov 13, 2017Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H9140)
In the Congressional Record 3
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Debate and remarks H9735 | Warren Davidson R-OH | Nov 29, 2018 |
| House | Debate and remarks H3352 | Warren Davidson R-OH | Apr 17, 2018 |
| House | Debate and remarks H9140–H9142Text printed H9140 | Bill Huizenga R-MI, Brad Sherman D-CA, Warren Davidson R-OH | Nov 13, 2017 |
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.
Committee report
Congressional Budget Office cost estimate
- Nov 9, 2017H.R. 3973, Market Data Protection Act of 2017As ordered reported by the House Committee on Financial Services on October 12, 2017
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 163, no. 160, October 5, 2017, page H7888.
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| IN10950 | Financial Services and General Government (FSGG) FY2019 Appropriations and Financial Regulatory Reform Archived | Insight | Nov 27, 2018 |
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 10 | Financial CHOICE Act of 2017 | Related bill | Jul 13, 2017 |
| HR 6147 | Interior, Environment, Financial Services and General Government, Agriculture, Rural Development, Food and Drug Administration, and Transportation, Housing and Urban Development Appropriations Act, 2019 | Related bill | Sep 7, 2018 |
Titles 4
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Securities Exchange Act of 1934 to require certain entities to develop internal risk control mechanisms to safeguard and govern the storage of market data.
- Short Titles as Introduced
- Market Data Protection Act of 2017
- Short Titles as Reported to House
- Market Data Protection Act of 2017
- Short Titles as Passed House
- Market Data Protection Act of 2017
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 4
Each version as it was printed, newest first.
- Nov 14, 2017Referred in Senate
- Nov 13, 2017Engrossed in House
- Nov 9, 2017Reported in House
- Oct 5, 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.
