H.R.6613 - Markets and Trading Reorganization Act112th Congress (2011-2012)
|Sponsor:||Rep. Frank, Barney [D-MA-4] (Introduced 11/29/2012)|
|Committees:||House - Financial Services; Agriculture|
|Latest Action:||House - 12/20/2012 Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises. (All Actions)|
This bill has the status Introduced
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Summary: H.R.6613 — 112th Congress (2011-2012)All Information (Except Text)
Introduced in House (11/29/2012)
Markets and Trading Reorganization Act - Establishes the Securities and Derivatives Commission as an independent regulatory commission.
Directs such Commission to establish three principal divisions: (1) a Markets and Trading Division with oversight of market conduct and utilities, the conduct of market professionals, and self-regulatory organizations with regard to such market professionals, including related examination functions; (2) an Issuers and Financial Disclosures Division with oversight of the issuance of securities, including investment companies and related rules and examinations; and (3) an Enforcement Division responsible for the enforcement of all Commission rules.
Transfers to the Commission all functions and personnel of: (1) the Commodity Futures Trading Commission (CFTC), and (2) the Securities and Exchange Commission (SEC).
Grants the Commission fee and funding authority.