H.R. 4617 · 117th Congress
To be added Act of 2021
- Stage
- Reported from committee
- Sponsor
- Brad Sherman
- Introduced
- 2021-07-22
- Latest action
- 2021-07-29 · Committee Consideration and Mark-up Session Held.
Summary
This bill directs the Securities and Exchange Commission (SEC) to study and report on payment for order flow (payment received by a stock brokerage firm for directing orders to another firm that buys and sells stock). The SEC must study, among other topics, conflicts arising from these payment arrangements, the impact on trade execution quality and pricing, and how firms disclose this arrangement to customers. The SEC must revise its rules, subject to notice and comment, consistent with the results of the study.