A bill to require the Securities and Exchange Commission to prevent the Financial Industry Regulatory Authority from enforcing a certain rule of that Authority.

Bill: 116-s-3558
Sponsor: full_name: Sen. Paul, Rand [R-KY]
Introduced: 2020-03-21
Policy area: Finance and Financial Sector
Latest action: action_date: 2020-03-21
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2020-03-21
action_desc: Introduced in Senate
text: <p>This bill directs the Securities and Exchange Commission to prevent the Financial Industry Regulatory Authority from enforcing that authority's rule requiring member brokers and dealers to annually inspect their offices for compliance with securities laws and regulations.</p>

tv_txt: II 116th CONGRESS 2d Session S. 3558 IN THE SENATE OF THE UNITED STATES March 21, 2020 Mr. Paul introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To require the Securities and Exchange Commission to prevent the Financial Industry Regulatory Authority from enforcing a certain rule of that Authority.

1. Prevention of enforcement of rule Beginning on the date of enactment of this Act, the Securities and Exchange Commission shall prevent the Financial Industry Regulatory Authority (referred to in this section as FINRA ) from enforcing rule 3110(c) of FINRA (relating to internal inspections).