110 HR 2868 : To eliminate the exemption from State U.S. House of Representatives 2007-10-24 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.

IIB 110th CONGRESS 1st Session H. R. 2868 IN THE SENATE OF THE UNITED STATES October 24, 2007 Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs AN ACT To eliminate the exemption from State regulation for certain securities designated by national securities exchanges.

1.

Scope of exemption from state securities regulation

Section 18(b)(1) of the Securities Act of 1933 (15 U.S.C. 77r(b)(1)) is amended— (1)in subparagraph (A)— (A)by striking or the American Stock Exchange, or listed, or authorized for listing, on the National Market System of the Nasdaq Stock Market (or any successor to such entities) and inserting , the American Stock Exchange, or the Nasdaq Stock Market (or any successor to such entities); and (B)by inserting before the semicolon the following: , except that a security listed, or authorized for listing, on the New York Stock Exchange, the American Stock Exchange, or the Nasdaq Stock Market (or any successor to such entities) shall not be a covered security if the exchange adopts listing standards pursuant to section 19(b) of the Securities Exchange Act of 1934 (15 U.S.C. 78s(b)) that designates a tier or segment of such securities as securities that are not covered securities for purposes of this section and such security is listed, or authorized for listing, on such tier or segment; and (2)in subparagraph (B), by inserting covered after applicable to.

Passed the House of Representatives October 23, 2007. Lorraine C. Miller, Clerk