3.0.0 2477 2023-01-11T13:31:19Z 2023-01-11T13:31:19Z House HR 2015-05-20 114 [Congressional Record Volume 161, Number 78 (Wednesday, May 20, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. ISSA:H.R. 2477.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8 Clause 3The Congress shall have power to regulate commerce withforeign nations, and among the several states, and with theIndian tribes.[Page H3507]]]> hsag00 Agriculture Committee House Standing hsag22 Commodity Markets, Digital Assets, and Rural Development Subcommittee Referred to 2015-06-08T15:34:59Z Referred to 2015-05-20T14:02:20Z hsba00 Financial Services Committee House Standing Referred to 2015-05-20T14:02:15Z 2015-06-08 hsag22 Commodity Markets, Digital Assets, and Rural Development Subcommittee 1 House committee actions Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit. Committee 2015-05-20 Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsag00 Agriculture Committee 2015-05-20 Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100-A 9 Library of Congress 2015-05-20 Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2015-05-20 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-05-20 Introduced in House IntroReferral 1000 9 Library of Congress I000056 Rep. Issa, Darrell E. [R-CA-49] DARRELL ISSA R CA E. 49 N M001156 Rep. McHenry, Patrick T. [R-NC-10] Patrick McHenry R NC 10 2015-05-20 True H001059 Rep. Hultgren, Randy [R-IL-14] Randy Hultgren R IL 14 2015-05-20 True B001294 Rep. Blum, Rod [R-IA-1] Rod Blum R IA 1 2015-05-20 True S001183 Rep. Schweikert, David [R-AZ-6] David Schweikert R AZ 6 2015-05-20 True A000374 Rep. Abraham, Ralph Lee [R-LA-5] Ralph Abraham R LA Lee 5 2015-05-20 True P000598 Rep. Polis, Jared [D-CO-2] Jared Polis D CO 2 2015-05-20 True Q000023 Rep. Quigley, Mike [D-IL-5] Mike Quigley D IL 5 2015-05-20 True M000087 Rep. Maloney, Carolyn B. [D-NY-12] CAROLYN MALONEY D NY B. 12 2015-05-20 True E000288 Rep. Ellison, Keith [D-MN-5] Keith Ellison D MN 5 2015-05-20 True D000620 Rep. Delaney, John K. [D-MD-6] John Delaney D MD K. 6 2015-05-20 True R000487 Rep. Royce, Edward R. [R-CA-39] ED ROYCE R CA 39 2015-05-20 True M000312 Rep. McGovern, James P. [D-MA-2] JAMES MCGOVERN D MA P. 2 2015-06-10 False F000460 Rep. Farenthold, Blake [R-TX-27] Blake Farenthold R TX 27 2015-06-17 False P000373 Rep. Pitts, Joseph R. [R-PA-16] JOSEPH PITTS R PA R. 16 2015-06-17 False C001105 Rep. Comstock, Barbara [R-VA-10] Barbara Comstock R VA 10 2015-06-19 False O000168 Rep. Olson, Pete [R-TX-22] Pete Olson R TX 22 2015-06-25 False F000448 Rep. Franks, Trent [R-AZ-8] Trent Franks R AZ 8 2015-06-25 False W000795 Rep. Wilson, Joe [R-SC-2] Joe Wilson R SC 2 2015-07-07 False E000294 Rep. Emmer, Tom [R-MN-6] Tom Emmer R MN 6 2015-07-16 False P000606 Rep. Pittenger, Robert [R-NC-9] Robert Pittenger R NC 9 2015-08-04 False K000210 Rep. King, Peter T. [R-NY-2] PETER KING R NY T. 2 2015-09-10 False P000592 Rep. Poe, Ted [R-TX-2] Ted Poe R TX 2 2015-09-10 False M001189 Rep. Messer, Luke [R-IN-6] Luke Messer R IN 6 2015-09-18 False S001196 Rep. Stefanik, Elise M. [R-NY-21] Elise Stefanik R NY M. 21 2015-10-08 False W000798 Rep. Walberg, Tim [R-MI-7] Tim Walberg R MI 7 2015-10-08 False D000622 Rep. Duckworth, Tammy [D-IL-8] Tammy Duckworth D IL 8 2015-10-08 False B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 2015-10-23 False H001073 Rep. Hurd, Will [R-TX-23] Will Hurd R TX 23 2015-11-04 False M001196 Rep. Moulton, Seth [D-MA-6] Seth Moulton D MA 6 2015-12-03 False P000594 Rep. Paulsen, Erik [R-MN-3] Erik Paulsen R MN 3 2016-05-26 False B001291 Rep. Babin, Brian [R-TX-36] Brian Babin R TX 36 2016-06-09 False S000051 Rep. Sanford, Mark [R-SC-1] Mark Sanford R SC 1 2016-07-08 False B001285 Rep. Brownley, Julia [D-CA-26] Julia Brownley D CA 26 2016-07-13 False B001292 Rep. Beyer, Donald S., Jr. [D-VA-8] Donald Beyer D VA S. 8 2016-07-14 False B001283 Rep. Bridenstine, Jim [R-OK-1] Jim Bridenstine R OK 1 2016-07-14 False Finance and Financial Sector Administrative law and regulatory procedures Banking and financial institutions regulation Commodities markets Commodity Futures Trading Commission Congressional oversight Consumer Financial Protection Bureau Corporate finance and management Department of the Treasury Federal Deposit Insurance Corporation (FDIC) Federal Housing Finance Agency Federal Reserve System Financial services and investments Government information and archives National Credit Union Administration Securities Securities and Exchange Commission (SEC) State and local finance Finance and Financial Sector 00 2015-05-20 Introduced in House 2015-10-29T20:12:13Z Financial Transparency Act of 2015

This bill directs the Office of Financial Research of the Department of the Treasury and the following financial regulatory agencies to adopt data standards for all information collected or received by them, including corporate financial data:

  • the Securities and Exchange Commission (SEC),
  • the Federal Deposit Insurance Corporation,
  • the Office of the Comptroller of the Currency,
  • the Bureau of Consumer Financial Protection,
  • the Board of Governors of the Federal Reserve System,
  • the Commodity Futures Trading Commission,
  • the National Credit Union Administration, and
  • the Federal Housing Finance Agency.

The Financial Stability Act of 2010 is amended to direct the Office of Financial Research (OFR) to promulgate data standards, including common identifiers and data formats, for the information reported to member agencies or collected on behalf of the Financial Stability Oversight Council.

The OFR must publish any public information (with specified exceptions) as open data, freely available for download in bulk, accessible via application programming interface where appropriate, and offered without any registration requirement or reuse restriction (open data publication).

The Investment Advisers Act of 1940 is amended to require the SEC to adopt data standards incorporating those promulgated by the OFR and apply them to:

  • investment advisers reports and registration statements,
  • information submitted by nationally recognized statistical rating organizations,
  • asset-backed securities disclosures,
  • corporate disclosures in registration statements and prospectuses,
  • periodic and current corporate disclosures,
  • corporate proxy and consent solicitation materials, and
  • security-based swap reporting.

The SEC, like the OFR, must publish all public information as open data.

The Municipal Securities Rulemaking Board and national securities associations must likewise adopt OFR-promulgated data transparency standards.

The SEC must, by rule, adopt a data standard that is both human-readable and machine-readable, and that complies with this Act regarding corporate financial data for which it was using the eXtensible Business Reporting Language standard.

The SEC shall also establish a program to improve the quality of corporate financial data furnished by issuers.

The Federal Deposit Insurance Act is amended to require the Federal Deposit Insurance Corporation to adopt the data standards and open data publication requirements prescribed in this Act and apply them to all information received from a depository institution or financial company.

The Revised Statutes of the United States, the Consumer Financial Protection Act of 2010, the Commodity Exchange Act, the Federal Credit Union Act, and the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 are amended to direct the Comptroller of the Currency, the Consumer Financial Protection Bureau, the Commodity Futures Trading Commission, the National Credit Union Administration Board, and the Federal Housing Finance Agency, respectively, to adopt, for all information regularly submitted to them, the data standards and open data publication requirements prescribed by this Act.

]]> Financial Transparency Act of 2015 Display Title Financial Transparency Act of 2015 Official Title as Introduced To amend securities, commodities, and banking laws to make the information reported to financial regulatory agencies electronically searchable, and for other purposes. Introduced in House IH Short Titles as Introduced Financial Transparency Act of 2015 Introduced in House 2015-05-20T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr2477ih/xml/BILLS-114hr2477ih.xml 2015-06-08 Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.