A bill to amend the Securities Exchange Act of 1934 to provide uniform margin requirements in transactions involving the acquisition of securities of certain United States corporations by non-United States persons where such acquisition is financed by non-United States lenders, to specify a private right of action for violations of margin requirements, and for certain other purposes.
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Amends the Securities Exchange Act of 1934 to prohibit certain credit transactions for the acquisition of securities of United States corporations by either United States or non-United States persons where such a transaction is financed by either United States or non-United States lenders if such a transaction is or could be prohibited if made or the transaction had otherwise occurred in a lender's office or other place of business in a State. Permits the Board of Governors of the Federal Reserve System to exempt any class of persons from the application of such regulation. Sets forth the private right of action for violations of such margin requirements. Applies the provisions of this Act to any purchase or carrying of securities 30 days after enactment of this Act, if the loan or extension of credit involved originated, or if the loan proceeds used were disbursed, on or after such date.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on March 24, 1983. 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 March 28, 1984: Subcommittee Hearings Held.
- 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 98th Congress (1983-84), 623 of the 10,560 bills and joint resolutions introduced became law, about 5.9 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?
JOHN BRYANT (D-TX) introduced it on March 24, 1983. 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 March 24, 1983, 15923 days ago. The most recent recorded action was 15553 days ago, on March 28, 1984.
Measures do not carry over. Anything the 98th Congress has not finished by January 3, 1985 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