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H.R. 3973 (115th): Market Data Protection Act of 2017

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About the bill

Source: Republican Policy Committee

H.R. 3973 requires the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and the operator of the Consolidated Audit Trail (CAT), in consultation with the SEC’s Chief Economist, to develop comprehensive internal risk control mechanisms to safeguard and govern the storage of market data, market data sharing agreements, and academic research using market data. The legislation also prohibits market data reporting to the Consolidated Audit Trail until the operator develops internal control mechanisms.

In April 2016, the Government Accountability Office identified weaknesses in the SEC ...

Sponsor and status

Warren Davidson

Sponsor. Representative for Ohio's 8th congressional district. Republican.

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Last Updated: Nov 14, 2017
Length: 4 pages
Introduced
Oct 5, 2017
115th Congress, 2017–2019
Status
Died in a previous Congress

This bill was introduced in a previous session of Congress and was passed by the House on November 13, 2017 but was never passed by the Senate.

Source

Position statements

What legislators are saying

THIS WEEK IN CONGRESS - Veterans Day in the Marianas
    — Rep. Gregorio Sablan [D-MP0] on Nov 18, 2017

On the House Floor This Week - 11/13/17
    — Rep. John Delaney [D-MD6, 2013-2018] on Nov 13, 2017

The Week Ahead - scheduled votes, committee action and other important notes for the week of November 13, 2017
    — Rep. David Young [R-IA3, 2015-2018] on Nov 13, 2017

More statements at ProPublica Represent...

What stakeholders are saying

Institute for Spending Reform SpendingTracker.org estimates H.R. 3973 will add $1 million in new spending through 2022.

History

Oct 5, 2017
 
Introduced

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

Oct 11, 2017
 
Considered by House Committee on Financial Services

A committee held a hearing or business meeting about the bill.

Oct 12, 2017
 
Ordered Reported

A committee has voted to issue a report to the full chamber recommending that the bill be considered further. Only about 1 in 4 bills are reported out of committee.

Nov 9, 2017
 
Reported by House Committee on Financial Services

A committee issued a report on the bill, which often provides helpful explanatory background on the issue addressed by the bill and the bill's intentions.

Nov 13, 2017
 
Passed House (Senate next)

The bill was passed in a vote in the House. It goes to the Senate next. The vote was by voice vote so no record of individual votes was made.

H.R. 3973 (115th) was a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

This bill was introduced in the 115th Congress, which met from Jan 3, 2017 to Jan 3, 2019. Legislation not enacted by the end of a Congress is cleared from the books.

How to cite this information.

We recommend the following MLA-formatted citation when using the information you see here in academic work:

“H.R. 3973 — 115th Congress: Market Data Protection Act of 2017.” www.GovTrack.us. 2017. October 15, 2019 <https://www.govtrack.us/congress/bills/115/hr3973>

Where is this information from?

GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.