[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8436 Introduced in House (IH)]

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117th CONGRESS
  2d Session
                                H. R. 8436

To require the Securities and Exchange Commission to carry out a study 
   on the need to revise the current tick size regime, and for other 
                               purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 20, 2022

 Mr. Huizenga introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To require the Securities and Exchange Commission to carry out a study 
   on the need to revise the current tick size regime, and for other 
                               purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Accurate Pricing for Investors 
Act''.

SEC. 2. STUDY ON THE NEED TO REVISE THE CURRENT TICK SIZE REGIME.

    (a) Study.--The Securities and Exchange Commission shall carry out 
a study to--
            (1) assess the need to revise the current tick size regime, 
        particularly for stocks that data suggests may be tick-
        constrained, to improve public price discovery and facilitate 
        fair competition between exchange and non-exchange markets;
            (2) examine the impacts of artificially wide spreads that 
        are a function of the tick size regime and their impacts on--
                    (A) public price discovery; and
                    (B) facilitating fair competition between exchange 
                and non-exchange markets;
            (3) examine whether reducing the tick size for some stocks 
        may lower execution costs for retail investors; and
            (4) examine whether identifying non-exchange market centers 
        in trade reports published on the consolidated tape would 
        enhance public price discovery and address market 
        fragmentation.
    (b) Report.--Not later than the end of the 180-day period beginning 
on the date of enactment of this Act, the Securities and Exchange 
Commission shall issue a report to the Committee on Financial Services 
of the House of Representatives and the Committee on Banking, Housing, 
and Urban Affairs of the Senate containing all findings and 
determinations made in carrying out the study required under subsection 
(a).
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