H.R.3973 - Market Data Protection Act of 2017115th Congress (2017-2018) |
|Sponsor:||Rep. Davidson, Warren [R-OH-8] (Introduced 10/05/2017)|
|Committees:||House - Financial Services | Senate - Banking, Housing, and Urban Affairs|
|Committee Reports:||H. Rept. 115-405|
|Latest Action:||Senate - 11/14/2017 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.3973 — 115th Congress (2017-2018)All Information (Except Text)
Passed House without amendment (11/13/2017)
Market Data Protection Act of 2017
(Sec. 2) This bill amends the Securities Exchange Act of 1934 to require the Securities and Exchange Commission, the Financial Industry Regulatory Authority, and the operator of the consolidated audit trail (a database that tracks trading in equities and options markets) to develop internal risk control mechanisms to protect stored market data.
The operator of the consolidated audit trail may not accept market data until these mechanisms are developed.