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H.R. 3973: Market Data Protection Act of 2017

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

Status:

Passed House (Senate next) on Nov 13, 2017

This bill passed in the House on November 13, 2017 and goes to the Senate next for consideration.

Prognosis:

31% chance of being enacted according to Skopos Labs (details)

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
 
On House Schedule

The House indicated that this bill would be considered in the week ahead.

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.

Pending
 
Passed Senate

Pending
 
Signed by the President

H.R. 3973 is 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.

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“H.R. 3973 — 115th Congress: Market Data Protection Act of 2017.” www.GovTrack.us. 2017. November 22, 2017 <https://www.govtrack.us/congress/bills/115/hr3973?utm_campaign=govtrack_feed&utm_source=govtrack/feed&utm_medium=rss>

Where is this information from?

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