Securities and Exchange Commission Reporting Modernization Act

Bill: 114-hr-3032
Sponsor: Rep. Sinema, Kyrsten [D-AZ-9]
Introduced: 2015-07-10 in the House
Policy area: Finance and Financial Sector
Subjects: Bank accounts, deposits, capital
Banking and financial institutions regulation
Congressional oversight
Right of privacy
Securities and Exchange Commission (SEC)

Summary:
action_date: 2015-07-10
text: 
 
Securities and Exchange Commission Reporting Modernization Act

 
This bill amends the Securities Exchange Act of 1934 to repeal the requirement that the Securities and Exchange Commission (SEC) compile an annual tabulation of the occasions on which it used specified law, including the Right to Financial Privacy Act of 1978, to obtain access to financial records of a customer and include it in its annual report to the Congress.
 
(The specified law referred to is the authority of the SEC to gain access to and obtain copies of, or the information contained in, financial records of a customer from a financial institution without prior notice to the customer upon an ex parte showing to an appropriate U.S. district court that the SEC seeks such records pursuant to a subpena, if certain circumstances exist and certain requirements are met.)

action_date: 2015-11-16
text: 
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
 

Securities and Exchange Commission Reporting Modernization Act

 
(Sec. 2) This bill amends the Securities Exchange Act of 1934 to repeal the requirement that the Securities and Exchange Commission (SEC) compile an annual tabulation of the occasions on which it has used specified law, including the Right to Financial Privacy Act of 1978, to obtain access to financial records of a customer and include it in its annual report to the Congress.
 
(The specified law referred to is the authority of the SEC to gain access to and obtain copies of, or the information contained in, financial records of a customer from a financial institution without prior notice to the customer upon an ex parte showing to an appropriate U.S. district court that the SEC seeks such records pursuant to a subpena, if certain circumstances exist and certain requirements are met.)


Legislative actions:
action_date: 2015-11-17
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2015-11-16
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2015-11-16
text: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H8219)
action_date: 2015-11-16
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H8219)
action_date: 2015-11-16
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 3032.
action_date: 2015-11-16
text: Considered under suspension of the rules. (consideration: CR H8219)
action_date: 2015-11-16
text: Mr. Hensarling moved to suspend the rules and pass the bill.
action_date: 2015-11-16
text: Placed on the Union Calendar, Calendar No. 258.
action_date: 2015-11-16
text: Reported by the Committee on Financial Services. H. Rept. 114-337.
action_date: 2015-11-16
text: Reported by the Committee on Financial Services. H. Rept. 114-337.
action_date: 2015-07-29
text: Ordered to be Reported by the Yeas and Nays: 58 - 0.
action_date: 2015-07-29
text: Committee Consideration and Mark-up Session Held.
action_date: 2015-07-28
text: Committee Consideration and Mark-up Session Held.
action_date: 2015-07-10
text: Referred to the House Committee on Financial Services.
action_date: 2015-07-10
text: Introduced in House
action_date: 2015-07-10
text: Introduced in House