SECURITIES related term(s) Investments

Amendments

Public Company Accounting Oversight Board: exclude privately held, non-custody brokers and dealers that are in good standing from certain requirements (S. 3004), S6193 [17SE]

Articles and editorials

Well-Heeled Investors Reap the Republican Tax Cut Bonanza, H1330 [27FE]

Bills and resolutions

Budget: exempt Public Accounting Oversight Board funding from sequester (see S. 2817), S2623 [10MY]

——— exempt Securities Investor Protection Corp., funding from sequester (see S. 2816), S2623 [10MY]

——— exempt standard setting body designated pursuant to the Securities Act from sequester (see S. 2818), S2623 [10MY]

Business and industry: establish certain procurement procedures relative to businesses wholly owned through an employee stock ownership plan (ESOP) (see H.R. 7206), H9757 [30NO]

CFTC: modernize authority to conduct research, development, demonstration, and information programs (see H.R. 6121), H5200 [14JN]

Congress: prohibit Members and senior staff from buying or selling individual stocks and other investments while in office and prohibit Members from serving on corporate boards while in office (see S. 3718), S7356 [6DE]

Corporations: prohibit large employers from buying back stock unless employees are paid above a certain amount and allowed to earn paid sick leave, and no executive earns more than 150 times median employee pay (see S. 3640), S7050 [15NO] (see H.R. 7145), H9567 [16NO]

——— require businesses to balance responsibilities to employees and shareholders by requiring Federal charters and election of board members, restricting sales of company shares, and limiting political expenditures (see S. 3348), S5618 [15AU] (see H.R. 7294), H10209 [13DE]

Dept. of HHS: establish Eye Bond Pilot Program to fund translational research and advance treatments and cures for blindness and other severe vision impairments (see H.R. 6421), H6557 [18JY]

Dept. of the Treasury: issue bonds to finance construction of a southern border wall (see H.R. 7304), H10210 [13DE] (see H.R. 7325), H10269 [17DE]

——— modify beneficial ownership requirements by creating an exception for certain accounts (see H.R. 6403), H6463 [17JY]

Financial Industry Regulatory Authority, Inc.: establish a relief fund to provide investors with the full value of unpaid arbitration awards issued against regulated brokers or brokerage firms (see S. 2499), S1378 [6MR]

Financial institutions: establish exemption from credit valuation adjustment calculation for uncleared derivatives transactions with end-users so that U.S. companies are not disadvantaged (see H.R. 5323), H1697 [19MR]

Government regulations: require the appropriate Federal banking agencies to recognize the exposure-reducing nature of client margin for cleared derivatives (see S. 3682), S7241 [29NO]

Government-sponsored enterprises: prohibit lobbying by Fannie Mae and Freddie Mac (see H.R. 7382), H10510 [20DE]

Law enforcement: provide for exclusive Federal jurisdiction over certain civil securities fraud actions (see S. 3421), S6059 [6SE]

Members of Congress: prohibit from buying or selling individual securities (see S. 3451), S6189 [17SE]

——— require timely filing of reports on transactions in stocks, bonds, commodities futures, and other forms of securities (see H.R. 5458), H3095 [10AP]

Mortgages: repeal Fannie Mae and Freddie Mac charters and direct Ginnie Mae to guarantee qualified privately insured mortgage-backed securities (see H.R. 6746), H7941 [7SE]

Municipal Securities Rulemaking Board: increase transparency (see H.R. 5614), H3574 [25AP]

Political ethics: strengthen ethical standards in the Federal Government to prevent Government corruption and ensure transparency and accountability (see H.R. 7167), H9573 [20NO]

Power resources: establish Clean Energy Victory Bonds to increase investment in domestic development and deployment of clean energy technologies (see H.R. 5586), H3452 [23AP]

Public Company Accounting Oversight Board: exclude privately held, non-custody brokers and dealers that are in good standing from certain requirements (see S. 3004), S3034 [6JN] (see H.R. 6021), H4848 [6JN]

——— increase transparency (see H.R. 5614), H3574 [25AP]

SEC: adjust certain resubmission thresholds for shareholder proposals (see H.R. 5756), H3929 [10MY]

——— allow for registration of venture exchanges (see S. 3723), S7356 [6DE] (see H.R. 5877), H4242 [18MY]

——— allow the owning of certain securities by, change capital structure requirements of, and revise certain rules relative to business development companies (see S. 2324), S300 [18JA]

——— carry out a study to evaluate issues affecting provision of and reliance upon investment research into small issuers (see S. 3578), S6815 [11OC] (see H.R. 6139), H5284 [19JN]

——— carry out study of direct and indirect underwriting fees, including gross spreads, for mid-sized initial public offerings (see H.R. 6324), H6041 [10JY]

——— change quarterly reporting requirement for certain registered securities to a semi-annual requirement (see H.R. 6918), H9089 [26SE]

——— clarify definition and regulation of digital tokens and tax treatment of virtual currency (see H.R. 7356), H10509 [20DE]

——— create a safe harbor for finders and private placement brokers (see H.R. 6127), H5224 [15JN]

——— establish Senior Investor Taskforce (see S. 3323), S5582 [1AU] (see H.R. 6323), H6041 [10JY]

——— exempt from registration brokers participating in the transfer of ownership of smaller privately-held companies (see S. 3518), S6355 [27SE]

——— expand ability to use testing the waters and confidential draft registration submissions (see S. 2347), S520 [25JA]

——— extend certain exemptions and reduced disclosure requirements for companies that were emerging growth companies and would continue to be emerging growth companies if not for certain restrictions (see H.R. 6130), H5224 [15JN]

——— extend registration exemption to communications made by underwriters and dealers acting by or on behalf of a well-known seasoned issuer (see H.R. 5999), H4775 [5JN] (see H.R. 6035), H4979 [7JN]

——— prohibit consolidated audit trail from accepting personally identifying information (see H.R. 4785), H172 [12JA]

——— prohibit from compelling a person to produce or furnish algorithmic trading source code or similar intellectual property without issuance of a subpoena (see S. 3733), S7385 [10DE]

——— provide complaint and burden of proof requirements for certain actions for breach of fiduciary duty (see H.R. 4738), H18 [8JA]

——— provide for exclusive Federal jurisdiction over civil securities fraud actions (see H.R. 5037), H1211 [15FE]

——— remove limitation on large accelerated filers qualifying as an emerging growth company (see H.R. 6049), H5020 [8JN]

——— repeal rule making open market stock repurchases by public companies easier and require percentage of company boards to be picked by employees (see S. 2605), S1947 [22MR] (see H.R. 6096), H5152 [13JN]

——— require issuers to disclose certain activities relative to climate change (see S. 3481), S6277 [24SE]

——— require issuers to disclose in an annual report any substantial financial relationship with any manufacturer or dealer of firearms or ammunition (see H.R. 5106), H1332 [27FE]

——— require issuers with a multi-class stock structure to make certain disclosures in any proxy or consent solicitation material (see H.R. 6322), H6041 [10JY]

——— require proxy advisory firms registration as investment advisers (see S. 3614), S6924 [13NO]

——— require publicly traded companies to disclose to investors information on cybersecurity risks and presence of cybersecurity experts on the board of trustees (see H.R. 6638), H7732 [27JY]

——— revise definitions of a qualifying portfolio company and a qualifying investment to include emerging growth companies and their equity securities to exempt venture capital fund advisers from registration (see S. 3576), S6815 [11OC] (see H.R. 6177), H5505 [21JN]

——— revise regulations relative to qualifications of natural persons as accredited investors (see S. 2756), S2440 [25AP]

——— revise shareholder threshold for registration under Securities Exchange Act (see H.R. 5051), H1212 [15FE]

——— revise shareholder threshold for registration under Securities Exchange Act for issuers that receive support through certain Federal universal service support mechanisms (see S. 3650), S7051 [15NO] (see H.R. 6745), H7941 [7SE]

——— study rule 10b5-1 trading plans relative to the definition of insider trading (see H.R. 6320), H6040 [10JY]

Taxation: include green infrastructure bonds in definition of qualified private activity bonds (see H.R. 7041), H9419 [5OC]

——— increase national limitation amount for qualified highway or surface freight transfer facility bonds (see S. 2320), S300 [18JA]

——— index certain assets for purposes of determining gain or loss (see S. 2688), S2218 [17AP] (see H.R. 6444), H6587 [19JY]

——— modify treatment of use of public infrastructure property for the private business use test for private activity bonds (see H.R. 6276), H5974 [28JN]

——— provide that the volume cap for private activity bonds shall not apply to bonds for facilities for the furnishing of water and sewage facilities (see S. 3358), S5759 [21AU]

——— restore tax exemption for advance refunding bonds (see H.R. 5003), H1126 [13FE]

Trump, President: require annual reports on Federal expenditures made to personal business holdings and regulatory actions that financially benefit the President, his businesses, and those of his close family members (see H.R. 5182), H1441 [6MR]

Letters

Dept. of the Treasury Pension Rehabilitation Administration establishment to make loans to multiemployer defined benefit plans from a Pension Rehabilitation Trust Fund: Douglas Rumsey, E1193 [4SE]

Financial services regulations reform: Americans for Financial Reform (organization), H1160 [14FE]

——— Barbara Roper and Micah Hauptman, Consumer Federation of America, H1165 [14FE]

——— Bill Killmer, Mortgage Bankers Association, H1161 [14FE]

——— Public Citizen (organization), H1159 [14FE]

SEC investigation into allegations of insider trading by Carl Ichan relative to sale of steel-related stock prior to announcement of plans to impose tariffs on steel and aluminum imports: Representative Gutierrez, H1612 [15MR]

Remarks in House

Business and industry: provide a temporary exemption for low-revenue issuers from certain auditor attestation requirements, H1156, H1157, H1162, H1163 [14FE], H6310 [17JY]

——— provide pay stubs, codify Executive order on contracting, improve oversight of executive compensation and stock sales, clarify definition of supervisor, and enhance workplace safety violation penalties (H.R. 2275), H100 [10JA]

——— require certain low-revenue issuers to have a policy in place to claw back executive incentive-based pay if it is materially noncompliant with financial reporting requirements, H1166, H1167 [14FE]

Dept. of the Treasury: establish a Pension Rehabilitation Administration to make loans to multiemployer defined benefit plans from a Pension Rehabilitation Trust Fund (H.R. 4444), H80 [9JA], H6051 [11JY], H7833 [5SE], E1192 [4SE]

——— establish a Pension Rehabilitation Administration to make loans to multiemployer defined benefit plans from a Pension Rehabilitation Trust Fund (S. 2147), H80 [9JA]

Economy: status, H5002, H5003 [8JN], H7167 [25JY], H9141–H9143 [27SE]

Federal aid programs: encourage and support partnerships between the public and private sectors to improve social programs, H892 [6FE]

Icahn, Carl: call for SEC to investigate allegations of insider trading relative to sale of steel-related stock prior to announcement of plans to impose tariffs on steel and aluminum imports, H1611 [15MR]

SEC: allow for registration of venture exchanges (H.R. 5877), H6003–H6005 [10JY]

——— carry out a study to evaluate issues affecting provision of and reliance upon investment research into small issuers, H6307 [17JY]

——— carry out a study to evaluate issues affecting provision of and reliance upon investment research into small issuers (H.R. 6139), H5997, H5998 [10JY]

——— carry out study of direct and indirect underwriting fees, including gross spreads, for mid-sized initial public offerings, H6307, H6308 [17JY]

——— clarify definition of general solicitation under Federal securities law as not applying to events like demo days, H6306, H6308, H6310 [17JY]

——— clarify that family offices and family clients are accredited investors, H6307 [17JY]

——— codify certain qualifications of individuals as accredited investors for purposes of securities laws, H6311 [17JY]

——— exempt from registration brokers participating in the transfer of ownership of smaller privately-held companies, H6307 [17JY]

——— expand ability to use testing the waters and confidential draft registration submissions, H6312 [17JY], H9736 [29NO]

——— increase threshold amount for requiring issuers to provide certain disclosures relative to employee stock compensatory benefit plans (S. 488), H6295–H6312 [17JY], H9695, H9733, H9735–H9738 [29NO], E1052 [24JY]

——— prohibit from compelling a person to produce or furnish algorithmic trading proprietary source code or similar intellectual property without issuance of a subpoena, H1165, H1166 [14FE]

——— prohibit from compelling a person to produce or furnish algorithmic trading source code or similar intellectual property without issuance of a subpoena, H1143, H1156–H1162 [14FE]

——— provide a safe harbor relative to certain investment fund research reports (H.R. 910), E1586 [30NO]

——— 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, H6308 [17JY]

——— require disclosure of corporate political spending, H6535, H6536 [18JY]

——— require review of annual Government-business forum on capital formation, H4347 [22MY]

——— revise any rules necessary to enable closed-end companies to use securities offering and proxy rules that are available to other issuers of securities (H.R. 4279), H183–H185 [16JA]

——— revise regulations relative to qualifications of natural persons as accredited investors, H6307 [17JY]

——— specify when a nationally traded security is exempt from State regulation of security offerings, H1141, H1143, H1156, H1157, H1161 [14FE]

——— study rule 10b5-1 trading plans relative to the definition of insider trading, H6307 [17JY]

Tax Cuts and Jobs Act: impact, H767 [5FE], H897, H898 [6FE], H1329 [27FE], H1422 [6MR]

——— impact on stock market, H177 [16JA]

Remarks in Senate

Corporations: impact of employee layoffs on profits and stock prices, S1830 [20MR]

——— require businesses to balance responsibilities to employees and shareholders by requiring Federal charters and election of board members, restricting sales of company shares, and limiting political expenditures (S. 3348), S5887 [23AU]

Dept. of the Treasury: establish a Pension Rehabilitation Administration to make loans to multiemployer defined benefit plans from a Pension Rehabilitation Trust Fund (S. 2147), S181–S185 [16JA], S341 [19JA], S435 [22JA], S2667–S2672 [15MY]

Economy: national objectives priority assignments, S3004 [6JN]

——— status, S6794–S6798 [11OC]

EPA: address price of renewable identification number credits (RINs) paid by oil refineries to show compliance with Renewable Fuel Standard, S688–S694 [7FE]

FDIC: assessment of banking industry, S5884 [23AU]

Federal aid programs: encourage and support partnerships between the public and private sectors to improve social programs, S796, S800 [8FE]

Financial institutions: require Federal banking agencies to treat certain non-significant investments in unconsolidated financial institutions’ capital as qualifying capital instruments, S1413 [7MR]

Power resources: transition away from fossil fuel sources of energy to 100 percent clean and renewable energy by 2050 (S. 987), S1683 [13MR]

SEC: require disclosure of corporate political spending, S5573 [1AU]

——— require proxy advisory firms registration as investment advisers (S. 3614), S6927 [13NO]

Tax Cuts and Jobs Act: impact, S544 [29JA], S596 [5FE], S630 [6FE], S1224 [27FE], S1261, S1267, S1271 [28FE], S1328–S1330 [5MR], S1344, S1346, S1349, S1400 [6MR], S1530–S1533 [8MR], S1645 [13MR], S1696, S1716, S1717 [14MR], S1801 [20MR], S2063–S2066 [11AP], S2087 [12AP], S4381 [26JN]

Taxation: increase national limitation amount for qualified highway or surface freight transfer facility bonds (S. 2320), S571 [30JA]

Trump, President: take certain actions relative to personal business holdings to ensure compliance with emoluments clause of the Constitution while serving as President (S. Con. Res. 4), S3271 [7JN]

Reports filed

Accelerating Access to Capital Act: Committee on Financial Services (House) (H.R. 4529) (H. Rept. 115–576), H1226 [23FE]

Access to Capital Creates Economic Strength and Supports (ACCESS) Rural America Act: Committee on Financial Services (House) (H.R. 6745) (H. Rept. 115–1077), H10168 [12DE]

American Customer Information Protection Act: Committee on Financial Services (House) (H.R. 4785) (H. Rept. 115–663), H3781 [7MY]

Consumer Financial Choice and Capital Markets Protection Act: Committee on Financial Services (House) (H.R. 2319) (H. Rept. 115–903), H7772 [24AU]

Dept. of HUD Suspension of Certain Fannie Mae and Freddie Mac Contributions to Housing Trust Fund as Required Under Senior Preferred Stock Purchase Agreements: Committee on Financial Services (House) (H.R. 4560) (H. Rept. 115–648), H3505 [24AP]

Derivatives Fairness Act: Committee on Financial Services (House) (H.R. 5323) (H. Rept. 115–893), H7747 [7AU]

Developing and Empowering Our Aspiring Leaders Act: Committee on Financial Services (House) (H.R. 6177) (H. Rept. 115–889), H7742 [3AU]

Due Process Restoration Act: Committee on Financial Services (House) (H.R. 2128) (H. Rept. 115–1118), H10609 [2JA]

Enhancing Multi-Class Stock Disclosures Act: Committee on Financial Services (House) (H.R. 6322) (H. Rept. 115–879), H7734 [31JY]

Exchange Regulatory Improvement Act: Committee on Financial Services (House) (H.R. 3555) (H. Rept. 115–883), H7742 [3AU]

Expanding Investment Opportunities Act: Committee on Financial Services (House) (H.R. 4279) (H. Rept. 115–517), H403 [16JA]

Helping Startups Continue To Grow Act: Committee on Financial Services (House) (H.R. 6130) (H. Rept. 115–1076), H10168 [12DE]

Improving Investment Research for Small and Emerging Issuers Act: Committee on Financial Services (House) (H.R. 6139) (H. Rept. 115–808), H6040 [10JY]

Main Street Growth Act: Committee on Financial Services (House) (H.R. 5877) (H. Rept. 115–807), H6040 [10JY]

Middle Market IPO Underwriting Cost Act: Committee on Financial Services (House) (H.R. 6324) (H. Rept. 115–887), H7742 [3AU]

Mutual Fund Litigation Reform Act: Committee on Financial Services (House) (H.R. 4738) (H. Rept. 115–662), H3781 [7MY]

National Securities Exchange Regulatory Parity Act: Committee on Financial Services (House) (H.R. 4546) (H. Rept. 115–525), H628 [25JA]

National Senior Investor Initiative Act: Committee on Financial Services (House) (H.R. 6323) (H. Rept. 115–886), H7742 [3AU]

Promoting Transparent Standards for Corporate Insiders Act: Committee on Financial Services (House) (H.R. 6320) (H. Rept. 115–891), H7742 [3AU]

Protecting Advice for Small Savers (PASS) Act: Committee on Financial Services (House) (H.R. 3857) (H. Rept. 115–894), H7750 [10AU]

Protection of Source Code Act: Committee on Financial Services (House) (H.R. 3948) (H. Rept. 115–549), H1074 [8FE]

Public Company Registration Threshold Act: Committee on Financial Services (House) (H.R. 5051) (H. Rept. 115–888), H7742 [3AU]

Require Appropriate Federal Banking Agencies To Recognize the Exposure-Reducing Nature of Client Margin for Cleared Derivatives: Committee on Financial Services (House) (H.R. 4659) (H. Rept. 115–882), H7741 [3AU]

Restoring Financial Market Freedom Act: Committee on Financial Services (House) (H.R. 4247) (H. Rept. 115–1119), H10609 [2JA]

SEC Adjustment of Certain Resubmission Thresholds for Shareholder Proposals: Committee on Financial Services (House) (H.R. 5756) (H. Rept. 115–904), H7772 [24AU]

Small Business Audit Correction Act: Committee on Financial Services (House) (H.R. 6021) (H. Rept. 115–1075), H10168 [12DE]

Small Business Credit Availability Act: Committee on Financial Services (House) (H.R. 4267) (H. Rept. 115–646), H3505 [24AP]

Small Business Employee Ownership Promotion Enhancement Act: Committee on Small Business and Entrepreneurship (Senate) (S. 1538), S1790 [19MR]

——— Committee on Small Business and Entrepreneurship (Senate) (S. 1538) (S. Rept. 115–436), S7925 [19DE]

Streamlining Communications for Investors Act: Committee on Financial Services (House) (H.R. 6035) (H. Rept. 115–1009), H9462 [2NO]

Texts of

H.R. 4279, Expanding Investment Opportunities Act, H183 [16JA]

H.R. 5877, Main Street Growth Act, H6003 [10JY]

H.R. 6139, Improving Investment Research for Small and Emerging Issuers Act, H5997 [10JY]

S. 488, JOBS and Investor Confidence Act, H6295–H6306 [17JY]

S. 2320, Building U.S. Infrastructure and Leveraging Development (BUILD) Act, S302 [18JA]