Accurate Pricing for Investors Act

Bill: 117-hr-8436
Sponsor: full_name: Rep. Huizenga, Bill [R-MI-2]
Introduced: 2022-07-20
Policy area: Finance and Financial Sector
Latest action: action_date: 2022-07-20
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2022-07-20
action_desc: Introduced in House
text: <p><strong>Accurate Pricing for Investors Act </strong></p> <p>This bill directs the Securities and Exchange Commission (SEC) to report on the incremental price change of a security, or the tick size, used in securities markets. Specifically, the SEC must examine whether reducing the tick size may lower costs for retail investors. </p>

tv_txt: I 117th CONGRESS 2d Session H. R. 8436 IN THE HOUSE OF REPRESENTATIVES July 20, 2022 Mr. Huizenga introduced the following bill; which was referred to the Committee on Financial Services A BILL To require the Securities and Exchange Commission to carry out a study on the need to revise the current tick size regime, and for other purposes.

1. Short title This Act may be cited as the Accurate Pricing for Investors Act . 2. Study on the need to revise the current tick size regime (a) Study The Securities and Exchange Commission shall carry out a study to— (1) assess the need to revise the current tick size regime, particularly for stocks that data suggests may be tick-constrained, to improve public price discovery and facilitate fair competition between exchange and non-exchange markets; (2) examine the impacts of artificially wide spreads that are a function of the tick size regime and their impacts on— (A) public price discovery; and (B) facilitating fair competition between exchange and non-exchange markets; (3) examine whether reducing the tick size for some stocks may lower execution costs for retail investors; and (4) examine whether identifying non-exchange market centers in trade reports published on the consolidated tape would enhance public price discovery and address market fragmentation. (b) Report Not later than the end of the 180-day period beginning on the date of enactment of this Act, the Securities and Exchange Commission shall issue a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate containing all findings and determinations made in carrying out the study required under subsection (a).