A bill to amend the Securities Exchange Act of 1934.
Latest action. Referred to House Committee on Interstate and Foreign Commerce.
States the findings of Congress, including that: (1) our country's capital markets are an important national asset; and (2) to preserve and strengthen our capital markets, a National Securities Market System, linking together our country's market centers, wherever located, should be established. Directs the Securities and Exchange Commission to establish a National Market System for trading in securities. States that such a system shall include, at a minimum, a transactional reporting system for reporting all transactions in securities qualified for trading in the System and a composite quotation system for reporting bid and offered quotations for all securities qualified for trading in the System. Authorizes the Commission to appoint a National Market Board to regulate a National Securities Market System. Stipulates that the Commission shall have authority to promulgate such rules applicable to participants in a National Market System as it determines to be necessary or appropriate to protect investors and to assure the maintenance of fair and orderly markets in securities and shall have authority to promulgate such rules applicable to the Board, national securities exchanges, national securities associations, participants in a System or brokers or dealers as the Commission determines to be necessary or appropriate to assure fair and equitable treatment of participants in the System and to coordinate functions among various markets comprising the System.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on August 1, 1974. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on August 1, 1974: Referred to House Committee on Interstate and Foreign Commerce.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 93rd Congress (1973-74), 651 of the 23,396 bills and joint resolutions introduced became law, about 2.8 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
W. STUCKEY (D-GA) introduced it on August 1, 1974. No cosponsors are recorded.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on August 1, 1974, 19033 days ago. The most recent recorded action was 19033 days ago, on August 1, 1974.
Measures do not carry over. Anything the 93rd Congress has not finished by January 3, 1975 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers