H.R.1400 - Bond Price Competition Improvement Act of 1999106th Congress (1999-2000)
|Sponsor:||Rep. Bliley, Tom [R-VA-7] (Introduced 04/14/1999)|
|Committees:||House - Commerce | Senate - Banking, Housing, and Urban Affairs|
|Committee Reports:||H. Rept. 106-149|
|Latest Action:||06/15/1999 Received in the Senate and read twice and referred to the Committee on Banking. (All Actions)|
|Major Recorded Votes:||06/14/1999 : Passed House|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Subject — Policy Area:
- Finance and Financial Sector
- View subjects
Summary: H.R.1400 — 106th Congress (1999-2000)All Bill Information (Except Text)
Passed House amended (06/14/1999)
Bond Price Competition Improvement Act of 1999 - Amends the Securities Exchange Act of 1934 (the Act) to replace requirements regarding the National Market Advisory Board with the requirement that the Securities and Exchange Commission (SEC) adopt rules and take actions to assure prompt, comprehensive public dissemination of transaction information, including last sale date, regarding covered debt securities (i.e., bonds, debentures, or other debt instruments besides exempted securities). Directs the SEC, when determining such actions to consider private sector collection and distribution systems for transaction information on corporate debt securities.
Modifies securities' registration requirements to provide that: (1) a registration is not required to be effective for exchange trading of a class of debt securities of an issuer that has another class of securities for which a registration is effective for such exchange; and (2) such class of debt securities shall be treated as registered upon approval of its listing by the exchange.
Directs the Comptroller General to study and report to Congress on investor protection measures needed to improve information dissemination and transparency concerning transactions in: (1) debt securities as to which transaction information is collected but not disseminated pursuant to the Act; and (2) municipal securities.