To temporarily ban stock buybacks until the impact of COVID-19 on the American financial system has ended.
Latest action · Mar 23, 2020 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.
- IntroducedMar 23, 2020
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
This bill prohibits an issuer of securities from purchasing their own securities during the COVID-19 (i.e., coronavirus disease 2019) emergency period and for 120 days thereafter. The Securities and Exchange Commission (SEC) may terminate the ban before the end of this period if the SEC (1) determines doing so is in the public interest, and (2) provides notice.
Cosponsors 1
Members who signed on, in the order they did. All signed on May 8, 2020.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CA | Maxine Waters | May 8, 2020 |
Actions 2
Everything that happened, newest first.
- Mar 23, 2020Introduced in House
- Mar 23, 2020Referred to the House Committee on Financial Services.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 6321 | Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act | Related bill | Mar 23, 2020 |
| HR 6379 | Workforce Emergency Response Act of 2020 | Related bill | Mar 23, 2020 |
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Mar 23, 2020Introduced 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.
