H.R.3662 - Orderly Markets Act of 1989101st Congress (1989-1990)
|Sponsor:||Rep. Eckart, Dennis E. [D-OH-11] (Introduced 11/15/1989)|
|Committees:||House - Energy and Commerce; Agriculture|
|Latest Action:||House - 12/05/1989 Referred to the Subcommittee on Telecommunications and Finance. (All Actions)|
This bill has the status Introduced
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Summary: H.R.3662 — 101st Congress (1989-1990)All Information (Except Text)
Introduced in House (11/15/1989)
Orderly Markets Act of 1989 - Amends the Securities Exchange Act of 1934 to authorize the Securities and Exchange Commission (SEC) to regulate securities derivative instruments (contracts of sale or any option on such a contract) for future delivery of a group or index of equity securities.
Prohibits the registration or trade of such an instrument on a national securities exchange or any interdealer quotation system unless its terms and conditions have been approved by the SEC. Sets forth minimum statutory criteria for such approval.