[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3555 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 3555

   To amend the Securities Exchange Act of 1934 to provide that the 
  definition of a facility of an exchange does not apply to a line of 
business the purpose of which is not to effect or report a transaction 
                            on an exchange.


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                    IN THE HOUSE OF REPRESENTATIVES

                             July 28, 2017

 Mr. Loudermilk (for himself, Mr. Meeks, Mr. Hultgren, Mr. David Scott 
 of Georgia, and Mr. Zeldin) introduced the following bill; which was 
            referred to the Committee on Financial Services

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                                 A BILL


 
   To amend the Securities Exchange Act of 1934 to provide that the 
  definition of a facility of an exchange does not apply to a line of 
business the purpose of which is not to effect or report a transaction 
                            on an exchange.

    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 ``Exchange Regulatory Improvement 
Act''.

SEC. 2. FACILITY DEFINED.

    Section 3(a)(2) of the Securities Exchange Act of 1934 (15 U.S.C. 
78c(a)(2)) is amended by striking the period at the end and inserting 
the following: ``for the purpose of effecting or reporting a 
transaction on an exchange. Such term does not include any premises or 
property, or the right to use any premises, property, or service, to 
the extent such premises or property is used with respect to, or such 
right relates to use with respect to, a line of business the purpose of 
which is not to effect or report a transaction on an exchange.''.
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