H.R. 6613 · 112th Congress
Markets and Trading Reorganization Act
- Stage
- In committee
- Sponsor
- Barney Frank
- Introduced
- 2012-11-29
- Latest action
- 2012-12-20 · Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
Summary
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.