SECURITIES related term(s) Investments

Amendments

SEC: revise any rules necessary to enable issuers of index-linked annuities to register on form tailored specifically to registered index-linked annuities (S. 3198), S7002, S7004 [6DE]

Articles and editorials

U.S. Economy Remains #1 in 2021, but What About Our Future?, E30 [12JA]

Bills and resolutions

CFTC: prohibit trading of water and water rights for future delivery (see S. 3886), S1270 [21MR] (see H.R. 7182), H3858 [21MR]

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 (H.R. 1579), consideration (see H. Res. 899), H330 [1FE]

Cryptocurrency: establish reporting requirements for issuers of fiat currency-backed stablecoins (see S. 3970), S1910 [31MR] (see H.R. 7328), H4072 [31MR]

——— establish reporting requirements for persons who issue fiat currency-backed stablecoins (see H.R. 8498), H7168 [26JY]

——— provide regulatory framework and consumer protections for issuance of payment stablecoins (see S. 5340), S9779 [21DE]

——— require interagency study on environmental and energy impacts of crypto-asset mining and assess crypto-asset mining compliance with Clean Air Act (see S. 5210), S7034 [7DE] (see H.R. 9457), H8823 [7DE]

Dept. of Labor: disapprove rule entitled ‘‘Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights’’ (see S.J. Res. 65), S6941 [1DE] (see S.J. Res. 68), S7252 [15DE] (see H.J. Res. 103), H9902 [15DE] (see H.J. Res. 104), H9910 [20DE]

Dept. of the Treasury: issue bonds to finance construction of southern border wall and installation of additional physical barriers, roads, lighting, cameras, and sensors to gain operational control of southwest border (see H.R. 8371), H6622 [14JY]

——— prohibit U.S. financial institutions from participating in secondary market for certain Russian bonds (see H.R. 6900), H1274 [2MR]

Economy: jump-start economic recovery through formation and growth of new businesses (see S. 5287), S7252 [15DE]

ERISA: clarify fiduciary duty of plan administrators to select and maintain investments based solely on pecuniary factors (see S. 4484), S3160 [23JN] (see S. 4613), S3694 [26JY]

——— permit default investment arrangements in annuities (see H.R. 6746), H1123 [15FE]

Federal employees: modify timing to file periodic transaction reports (see H.R. 6486), H300 [25JA]

——— prohibit investments under Thrift Savings Plan in certain mutual funds that make investment decisions based primarily on environmental, social, or governance criteria (see S. 5000), S5226 [28SE] (see H.R. 7896), H5219 [27MY]

——— prohibit sums in Thrift Savings Fund from being invested in any security of entity based in Russia (see H.R. 7113), H3825 [17MR]

——— prohibit transactions involving certain financial instruments by senior Federal employees, their spouses, or dependent children (see H.R. 8754), H7731 [30AU]

——— provide for corporate responsibility investment option under Thrift Savings Plan (see H.R. 7852), H5207 [19MY]

——— require public availability of financial disclosure forms of certain special consultants and information relating to certain confidential filers (see S. 3523), S351 [19JA] (see H.R. 6447), H288 [20JA]

——— restrict trading and ownership of certain investments (see H.R. 9216), H8408 [21OC]

Financial Accounting Standards Board: comply with Administrative Procedure Act and Government in the Sunshine Act, conduct cost-benefit analysis on accounting standards, and require head to testify before Congress (see H.R. 9315), H8541 [16NO]

Financial institutions: amend securities, commodities, and banking laws to make information reported to financial regulatory agencies electronically searchable and enable regulatory technology (RegTech) applications (see S. 4295), S2664 [24MY]

——— provide for responsible financial innovation and bring digital assets within regulatory perimeter (see S. 4356), S2814 [7JN]

——— provide greater transparency relative to financial regulatory agencies (see S. 5300), S7311 [19DE]

——— provide requirements for bulk auction or group sale of certain non-performing loans (see S. 5342), S9779 [21DE]

FRS: establish goals for use of diverse investment advisers, brokers, and dealers in investment management agreements relative to Board of Governor’s unusual and exigent circumstances authority (see H.R. 9705), H10550 [3JA]

Government: prohibit Members of Congress, congressional staff, President, Vice President, and senior officials from owning investments while in office and prohibit Members from serving on corporate boards while in office (see H.R. 6844), H1146 [25FE]

——— require Members of Congress, congressional staff, President, Vice President, and senior officials to report Government payments in financial disclosures and ban stock trading for senior officials (see S. 3612), S612 [9FE] (see H.R. 6694), H1113 [9FE]

House Rules: prohibit Members of Congress from owning individual stocks (see H. Res. 873), H216 [18JA]

International Development Association: accord securities same exemption from securities laws that applies to securities of other multilateral development banks in which U.S. is member (see H.R. 8484), H7066 [21JY]

Investments: address entities that are not considered to be investment companies for purposes of Investment Company Act (see S. 3976), S1910 [31MR]

——— increase annual limitation on purchases by individuals of Series I U.S. savings bonds during periods of high inflation (see S. 4952), S5051 [27SE]

——— limit fiduciary consideration of non-pecuniary factors in investment decision-making (see H.R. 9198), H8402 [18OC]

——— prohibit securities investments that finance certain Chinese companies and expand Non-Specially Designated Nationals Chinese Military-Industrial Complex Companies List (see S. 4099), S2189 [27AP]

——— protect investment choices by allowing money market funds to elect to be stable value funds if they meet certain criteria and would be exempt from default liquidity fee requirements (see H.R. 9089), H8370 [30SE]

——— provide for orderly and secure digital commodity exchange markets (see H.R. 7614), H4607 [28AP]

——— require investment advisers for passively-managed funds to arrange for pass-through voting of proxies for certain securities (see S. 4241), S2586 [18MY] (see H.R. 8521), H7254 [27JY]

Members of Congress: ban lobbying after leaving office, prohibit individual stock ownership, and restrict travel benefits and certain perks for former Members (see H.R. 7782), H5009 [16MY]

——— prohibit from buying or selling individual securities and lobbying for compensation after leaving Congress (see S. 3550), S442 [1FE]

——— prohibit stock trading and ownership by Members and their spouses (see S. 3631), S647 [10FE] (see H.R. 6678), H1113 [9FE]

——— prohibit transactions involving certain financial instruments (see S. 3504), S220 [13JA] (see H.R. 6490), H300 [25JA]

——— require Members, spouses, and dependent children to place certain assets into blind trusts (see S. 3494), S189 [12JA]

——— require Members, spouses, and dependent children to place certain assets into blind trusts (H.R. 336), consideration (see H. Res. 930), H1131 [18FE]

——— require timely filing of reports on transactions in stocks, bonds, commodities futures, and other forms of securities (see H.R. 7126), H3826 [17MR]

Political ethics: restrict trading and ownership of covered investments by senior Government officials (see H.R. 8990), H8220 [28SE]

Public Company Accounting Oversight Board: exclude audits of privately held, non-custody brokers and dealers that are in good standing from certain requirements (see S. 4292), S2664 [24MY]

Russia: prohibit investment by institutional investors in securities issued by Russian entities (see S. 3733), S950 [2MR]

SEC: add additional investment thresholds for individual to qualify as accredited investor (see H.R. 9405), H8729 [2DE]

——— address disclosures by directors, officers, and principal stockholders of foreign private issuers (see S. 4127), S2275 [3MY]

——— address issuance of securities by Chinese entities (see S. 3926), S1774 [24MR]

——— address solicitation of proxy relative to securities (see S. 3945), S1832 [29MR]

——— amend certain security registration thresholds under Securities Exchange Act (see H.R. 6750), H1123 [15FE]

——— amend Federal securities laws to specify periods for which financial statements are required to be provided by emerging growth company (see H.R. 9411), H8729 [2DE]

——— create safe harbor for finders and private placement brokers (see S. 3922), S1774 [24MR] (see H.R. 8998), H8220 [28SE]

——— define secondary offerings of Regulation A tier 2 securities as covered securities for purposes of exemption from State regulation (see S. 3966), S1867 [30MR]

——— establish grant program to fund qualified investor advocacy clinics (see S. 4657), S3782 [28JY] (see H.R. 7923), H5227 [31MY]

——— except quotations of fixed-income securities from certain regulatory requirements (see H.R. 6632), H1012 [7FE]

——— exclude qualified institutional buyers and institutional credited investors when calculating holders of security for purposes of mandatory registration threshold (see H.R. 9459), H8823 [7DE]

——— expand research report exception to include reports about any issuer that undertakes proposed offering of public securities (see H.R. 9605), H9902 [15DE]

——— extend exemptions for securities offered as part of employee pay to other individuals providing goods, labor, or services for remuneration (see S. 3931), S1774 [24MR]

——— extend maximum period company can be emerging growth company from five years to ten years (see S. 4992), S5225 [28SE]

——— further enhance anti-retaliation protections for whistleblowers (see S. 3977), S1910 [31MR]

——— improve consideration of costs and benefits of regulations and orders (see H.R. 9603), H9902 [15DE]

——— improve quality of proxy advisory firms to protect investors and economy and to foster accountability, transparency, responsiveness, and competition in the industry (see H.R. 9527), H9851 [14DE]

——— lower aggregate market value of voting and non-voting common equity necessary for issuer to qualify as well-known seasoned issuer (see H.R. 9562), H9853 [14DE]

——— permit different trading increment (tick) sizes for emerging growth companies (see S. 3947), S1832 [29MR]

——— permit issuer, when determining market capitalization of issuer for purposes of testing significance of acquisition or disposition, to include value of all shares of issuer (see H.R. 9551), H9852 [14DE]

——— permit registered investment companies to omit certain fees from calculation of acquired fund fees and expenses reporting (see S. 3961), S1867 [30MR]

——— preempt State securities law requiring registration for secondary transactions (see S. 3967), S1867 [30MR] (see H.R. 9478), H8873 [8DE]

——— prohibit certain securities trading and related communications by those who possess material, nonpublic information to prevent insider trading (see S. 3990), S1936 [4AP]

——— prohibit from requiring issuers to disclose information relative to greenhouse gas emissions (see S. 5135), S6823 [28NO] (see H.R. 9063), H8315 [29SE]

——— prohibit requirements for issuers to make certain disclosures relative to greenhouse gas emissions or consumption (see H.R. 7355), H4126 [1AP]

——— promulgate regulations on disclosure of certain commercial data (see H.R. 7120), H3826 [17MR]

——— promulgate rules relative to electronic delivery of certain required disclosures (see H.R. 9570), H9901 [15DE]

——— provide digital asset intermediaries with safe harbor from certain enforcement actions and clarify classifications of digital assets and applicable liabilities under existing securities regulations (see S. 5030), S5541 [29SE]

——— provide small issuers with micro-offering exemption free of mandated disclosures or offering filings, but subject to antifraud provisions of Federal securities laws (see S. 3939), S1803 [28MR]

——— provide that broker-dealers who provide research services to investment managers and receive payments from certain accounts are not investment advisers (see S. 3965), S1867 [30MR]

——— provide that certain disclosures relative to scope 3 greenhouse-gas emissions may not be required under securities laws (see H.R. 8507), H7169 [26JY]

——— provide that issuer required to file certain quarterly reports may elect to file those reports semiannually (see S. 3919), S1774 [24MR]

——— repeal rule making open market stock repurchases by public companies easier and require percentage of company boards to be picked by employees (see H.R. 9149), H8385 [7OC]

——— require conduct of investor testing, including survey and interviews of retail investors, when developing rules and regulations about disclosures to retail investors (see H.R. 8462), H7065 [21JY]

——— require issuers filing annual reports to disclose any connections with Chinese Communist Party (see S. 3598), S575 [8FE] (see H.R. 6650), H1074 [8FE]

——— require issuers to disclose whether they do business in, or with Russia or other aggressor nations (see H.R. 7228), H3863 [24MR]

——— require national securities exchanges to identify issuers that are consolidated variable interest entities (see S. 4757), S3919 [3AU]

——— require that information required to be disclosed by issuers be material to investors of those issuers (see S. 5005), S5540 [29SE] (see H.R. 9408), H8729 [2DE]

——— require to periodically review final rules issued by Commission (see H.R. 9526), H9851 [14DE]

——— revise definition of facility (see H.R. 8617), H7538 [29JY]

——— revise definition of qualifying investment to include equity security issued by qualifying portfolio company for purposes of exemption from registration for venture capital fund advisers (see S. 3914), S1774 [24MR]

——— revise rules on general solicitation or general advertising to allow for presentations or other communication made by or on behalf of issuer at certain events (see H.R. 9451), H8823 [7DE]

——— revise shareholder threshold for registration under Securities Exchange Act for issuers that receive support through certain Federal universal service support mechanisms (see S. 4689), S3804 [1AU] (see H.R. 9445), H8800 [6DE]

——— strengthen Office of the Investor Advocate (see H.R. 7732), H4919 [12MY]

——— study costs associated with small- and medium-sized companies to undertake initial public offerings (see S. 3980), S1910 [31MR]

——— study need to revise current tick size regime used for purpose of quoting or trading securities (see H.R. 8436), H6921 [20JY]

——— support current definition of materiality in securities laws and oppose new disclosure requirements outside core mission (see H. Res. 1028), H4191 [5AP]

——— update guidance on economic analysis in rulemaking (see H.R. 7408), H4191 [5AP]

Small business: permit access to financial capital sources for investment in and financing of cannabis-related businesses and create safe harbor for securities exchanges to list securities of cannabis-related businesses (see H.R. 8200), H5877 [23JN]

Taxation: adopt mark-to-market capital gains income tax rules for taxpayers with net worth above specified threshold (see H.R. 7502), H4442 [14AP]

——— ensure that bonds used to finance professional sports stadiums are not treated as tax-exempt bonds (see H.R. 6806), H1139 [22FE]

——— impose minimum tax on certain wealthy tax payers that takes into account unrealized gains (see H.R. 8558), H7403 [28JY]

——— modify maximum capital gains rate and tax on net investment income (see S. 4393), S2939 [14JN]

——— modify private business use requirements for bonds issued for lead service line replacement projects (see S. 4921), S4969 [22SE] (see H.R. 6985), H1373 [8MR]

——— modify rules applicable to using private activity bonds for broadband projects (see H.R. 8099), H5644 [16JN]

——— permit election relative to property transferred in connection with services to be made in electronic form (see H.R. 7090), H3743 [15MR]

——— prevent excise tax on repurchase of corporate stock from taking effect (see H.R. 8853), H7881 [15SE]

——— provide for school infrastructure finance and innovation tax credit bonds (see H.R. 9668), H9983 [21DE]

——— provide tax relief for certain small business owners and impose tax on repurchase of corporate stock (see H.R. 8559), H7404 [28JY]

——— tax excess profits of large oil and gas companies, impose tax on repurchase of stock by large oil and gas companies, and end use of LIFO method of accounting by large oil and gas trades or businesses (see S. 4768), S4044 [4AU]

——— temporarily suspend required minimum distribution rules for certain retirement plans (see H.R. 8331), H5974 [12JY]

Cloture motions

Frost, Joshua: nomination to be Assistant Sec. of the Treasury for Financial Markets, S2211 [28AP], S2239 [2MY]

Letters

Require issuers of securities that are exempt from SEC registration to disclose basic information relative to issuer and country of origin: Americans for Financial Reform (organization), H864 [2FE]

——— Dylan Bruce, Consumer Federation of America, H864 [2FE]

——— Public Citizen, Inc., H865 [2FE]

SEC staff guidance relative to certain entities’ custodial obligations regarding digital assets: several Representatives, H9897 [15DE]

Lists

Votes recorded by proxy on H.R. 935, Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act, H4838 [11MY]

Remarks in House

Biden, President: evaluation of administration, H4847 [11MY]

——— evaluation of administration relative to economy, H27 [11JA]

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 (H.R. 1579), H3785 [17MR]

Dept. of Defense: prohibit ownership or trading of stocks by senior officials for any company that received certain amount in revenue from Dept., during preceding calendar year, H7176 [27JY]

Financial institutions: require certain issuers of securities to disclose disability status, based on voluntary self-identification, of any of their board of directors or executive officers, H5580 [15JN]

SEC: exempt from registration brokers participating in transfer of ownership of smaller privately-held companies (H.R. 935), H4746–H4748 [10MY]

——— revise definition of qualifying investment to include equity security issued by qualifying portfolio company for purposes of exemption from registration for venture capital fund advisers (H.R. 4227), H7152, H7153 [26JY]

Taxation: expand availability of employee stock ownership plans in S corporations, H3941 [29MR]

——— temporarily suspend required minimum distribution rules for certain retirement plans (H.R. 8331), H8358 [30SE]

Remarks in Senate

Business and industry: require semiconductor manufacturers receiving government assistance to issue stock warrants to U.S. Government and prohibit stock buybacks, foreign outsourcing, and repeal of collective bargaining agreements, S1279 [22MR], S1767–S1769 [24MR], S2031–S2033 [6AP], S2240 [2MY], S2318 [4MY], S3253 [13JY]

Dept. of the Treasury: allow for transfer and redemption of abandoned savings bonds, S9767 [21DE]

——— provide bond serial numbers to States, S10081 [22DE]

Fidelity Investments, Inc.: decision to offer cryptocurrency investment option in retirement plans, S6875 [30NO]

Fidelity Investments Inc.: decision to offer cryptocurrency investment option in retirement plans, S3841 [2AU]

Financial institutions: provide requirements for bulk auction or group sale of certain non-performing loans (S. 5342), S9780 [21DE]

Frost, Joshua: nomination to be Assistant Sec. of the Treasury for Financial Markets, S2211 [28AP], S2253, S2258 [3MY]

Government: require Members of Congress, congressional staff, President, Vice President, and senior officials to report Government payments in financial disclosures and ban stock trading for senior officials (S. 3612), S582 [9FE]

Power resources: prohibit funding for clean and renewable energy programs which lead to inflation and increased energy prices, S2315 [4MY]

——— transition away from fossil fuel energy sources to clean and renewable energy in order to ensure energy security, S4547–S4549 [13SE]

——— transition away from fossil fuel energy sources to clean and renewable energy in order to ensure energy security for U.S. and its allies, S973–S975 [3MR], S1765–S1767 [24MR]

SEC: prohibit certain securities trading and related communications by those who possess material, nonpublic information to prevent insider trading (S. 3990), S1937 [4AP]

——— revise any rules necessary to enable issuers of index-linked annuities to register on form tailored specifically to registered index-linked annuities (S. 3198), S7003, S7004 [6DE]

Taxation: modify maximum capital gains rate and tax on net investment income (S. 4393), S2942 [14JN], S3324 [18JY]

——— modify maximum capital gains tax rate to provide inflation adjustments for certain tax benefits, S4183 [6AU]

Reports filed

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act: Committee on Financial Services (House) (H.R. 935) (H. Rept. 117–313), H4795 [10MY]

Trading Isn’t a Game Act: Committee on Financial Services (House) (H.R. 4685) (H. Rept. 117–231), H287 [20JA]

Texts of

H.R. 935, Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act, H4746 [10MY]

H.R. 4227, Developing and Empowering our Aspiring Leaders Act, H7152 [26JY]