[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5421 Introduced in House (IH)]

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114th CONGRESS
  2d Session
                                H. R. 5421

 To amend the Securities Act of 1933 to apply the exemption from State 
 regulation of securities offerings to securities listed on a national 
security exchange that has listing standards that have been approved by 
                            the Commission.


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                    IN THE HOUSE OF REPRESENTATIVES

                              June 9, 2016

  Mr. Royce introduced the following bill; which was referred to the 
                    Committee on Financial Services

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                                 A BILL


 
 To amend the Securities Act of 1933 to apply the exemption from State 
 regulation of securities offerings to securities listed on a national 
security exchange that has listing standards that have been approved by 
                            the Commission.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``National Securities Exchange 
Regulatory Parity Act of 2016''.

SEC. 2. APPLICATION OF EXEMPTION.

    Section 18(b) of the Securities Act of 1933 (15 U.S.C. 77r(b)) is 
amended--
            (1) by striking subparagraph (A);
            (2) in subparagraph (B), by striking ``that the Commission 
        determines by rule (on its own initiative or on the basis of a 
        petition) are substantially similar to the listing standards 
        applicable to securities described in subparagraph (A)'' and 
        inserting ``that has been approved by the Commission'';
            (3) in subparagraph (C), by striking ``or (B)''; and
            (4) by redesignating subparagraphs (B) and (C) as 
        subparagraphs (A) and (B), respectively.
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