To amend the Securities Exchange Act of 1934 to transfer authorities and duties of registered national securities associations to the Securities and Exchange Commission.
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- House
- Sponsor
- 1
- Latest action
- Apr 7, 2025
What it does
The bill would transfer all authorities and duties currently held by registered national securities associations—such as FINRA—to the Securities and Exchange Commission (SEC). This change would affect self-regulatory organizations in the securities industry by eliminating their regulatory role and placing oversight directly under the SEC. The SEC would be required to issue rules to implement the transfer before the changes take effect, which would occur two years after the bill’s enactment. Any existing references to national securities associations in laws or regulations would be treated as references to the SEC.
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
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Where it goes next
While a bill can still move, the questions are about people and money.