zli12321/Bills huggingface dataset:
Small Company Capital Formation Act of 2011 - (Sec. 2) Amends the Securities Act of 1933 (Act) to direct the Securities and Exchange Commission (SEC) to exempt from its regulation a class of securities for which the aggregate offering amount of all securities sold within the prior 12-month period in reliance upon such exemption does not exceed $50 million. Restricts any such exemption to equity securities, debt securities, and debt securities convertible or exchangeable to equity interests, including any guarantees of such securities. Subjects to civil liability certain violations arising from offering or selling securities by use of prospectuses and communications. Authorizes the SEC to: (1) require an issuer of such exempted class of securities to make periodic disclosures available to investors regarding the issuer, its business operations, financial condition, corporate governance principles, and use of investor funds; (2) require the issuer to file electronically with the SEC and distribute to prospective investors an offering statement which includes this information; (3) provide for the suspension and termination of this disclosure requirement with respect to that issuer; and (4) prescribe exemption disqualification requirements, substantially similar to regulations adopted in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act, under which the exemption shall not be available to the issuer and related persons, including predecessors, affiliates, officers, directors, and underwriters. Requires the SEC to: (1) review and increase biennially such offering amount limitation, as appropriate; and (2) report to certain congressional committees its reasons for not increasing the amount if it determines not to do so. Exempts from state regulation the securities covered and required exempted from SEC regulation by this Act. (Sec. 3) Directs the Comptroller General to study the impact of state laws regulating securities offerings (Blue Sky laws) on offerings made under Regulation A (which specifies the terms and conditions of exemption from the registration requirements of the Securities Act of 1933).

Date: 2011-03-14
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Small Business Capital Access and Job Preservation Act - Amends the Investment Advisers Act of 1940 to exempt private equity fund investment advisers from its registration and reporting requirements, provided that each private equity fund has not borrowed and does not have outstanding a principal amount exceeding twice its invested capital commitments. Directs the Securities and Exchange Commission (SEC) to promulgate final rules that: (1) require such investment advisers to maintain records the SEC determines necessary, taking into account fund size, governance, investment strategy, and risk; and (2) define the term "private equity fund" for purposes of this Act.

Date: 2011-03-15
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Stop Trading on Congressional Knowledge Act - Amends the Securities Exchange Act of 1934 and the Commodity Exchange Act to direct both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to prohibit purchase or sale of either securities, security-based swaps, or commodities for future delivery or swap by a person in possession of material nonpublic information regarding pending or prospective legislative action if the information was obtained: (1) knowingly from a Member or employee of Congress, (2) by reason of being a Member or employee of Congress, or (3) from other federal employees and derived from their federal employment. Amends the Code of Official Conduct of the Rules of the House of Representatives to prohibit any Member, officer, or employee of the House from disclosing material nonpublic information relating to any pending or prospective legislative action relating to any publicly-traded company or to any commodity if such person has reason to believe that the information will be used to buy or sell the securities of that publicly traded company or that commodity for future delivery based on such information. Directs both the Committee on Agriculture and the Committee on Financial Services of the House of Representatives to hold hearings on the implementation by the CFTC and the SEC of such financial transaction prohibitions. Amends the Ethics in Government Act of 1978 to require formal disclosure of certain securities and commodities futures transactions to either the Clerk of the House of Representatives or the Secretary of the Senate. Amends the Lobbying Disclosure Act of 1995 to subject to its registration, reporting, and disclosure requirements, as well as requirements for identification of clients and covered legislative and executive officials, all political intelligence activities, contacts, firms, and consultants. Requires the Comptroller General to include political intelligence activities, contacts, firms, and consultants in its annual compliance audits and reports.

Date: 2011-03-17
Topic: Domestic Commerce (Securities & Commodities)
Subject: Government operations and politics
Private Company Flexibility and Growth Act - Amends the Securities Exchange Act of 1934 to change the thresholds for total assets and for class of equity security holders of record which trigger the requirement for a securities issuer to register with the Securities and Exchange Commission (SEC). Increases the total assets threshold from $1 million to $10 million, and the class of equity security holders of record threshold from 500-750 to 1,000 persons. Declares that, with respect to such registration requirement, the definition of "held of record" does not include securities held by persons who received them pursuant to an employee compensation plan in transactions exempted from specified registration requirements of the Securities Act of 1933 (exempt transactions). (Thus exempts securities held by such persons from registration requirements.) Directs the SEC to: (1) revise the definition of "held of record" in accordance with this Act, and (2) adopt safe harbor provisions issuers can follow when determining that holders of their securities received them pursuant to an employee compensation plan in an exempt transaction.

Date: 2011-06-14
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
SEC Regulatory Accountability Act - (Sec. 2) Amends the Securities Exchange Act of 1934 to direct the Securities and Exchange Commission (SEC), before issuing a regulation, to: (1) identify and evaluate the significance of the problem that the proposed regulation is designed to address in order to assess whether any new regulation is warranted; (2) use the SEC Chief Economist to assess the costs and benefits of the intended regulation and adopt it only upon a reasoned determination that its benefits justify the costs; (3) identify and assess available alternatives that were considered; and (4) ensure that any regulation is accessible, consistent, written in plain language, and easy to understand. Requires the SEC to: (1) consider whether the rulemaking will promote efficiency, competition, and capital formation; (2) consider the impact of the regulation upon investor choice, market liquidity and small business; (3) explain in its final rule the nature of comments received concerning the proposed rule or rule change; and (4) respond to those comments, explaining any changes made in response, and the reasons that it did not incorporate industry group concerns regarding potential costs or benefits. Directs the SEC to: (1) review its regulations and orders periodically to determine if they are outmoded, ineffective, insufficient, or excessively burdensome; and (2) modify, streamline, expand, or repeal them. Requires the SEC, whenever it adopts or amends a major rule, to state in its adopting release: (1) the purposes and intended consequences of the regulation, (2) the post-implementation quantitative and qualitative metrics to measure the economic impact of the regulation and the extent to which it has accomplished the stated purposes, (3) the assessment plan that will be used under the supervision of the Chief Economist to assess whether the regulation has achieved those purposes, and (4) any foreseeable unintended or negative consequences. Requires the assessment plan to: (1) consider the costs, benefits, and intended and unintended consequences of the regulation; and (2) specify the data to be collected, the methods for its collection and analysis, and an assessment completion date. Waives notice and comment requirements for the data collection if the SEC has published its assessment plan for notice and comment at least 30 days before adoption of a final regulation or amendment. (Sec. 3) Requires the SEC to report to specified congressional committees a plan to subject to the requirements of this Act the Public Company Accounting Oversight Board, the Municipal Securities Rulemaking Board, and any registered national securities association.

Date: 2011-06-23
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Amends the Internal Revenue Code to: (1) reduce from 2% to 1.39% the excise tax rate on the net investment income of tax-exempt private foundations, and (2) repeal the 1% reduction in such tax rate for private foundations that meet certain distribution requirements.

Date: 2011-06-23
Topic: Domestic Commerce (Securities & Commodities)
Subject: Taxation
End Excessive Oil Speculation Now Act of 2011 - Directs the Chairman of the Commodity Futures Trading Commission (CFTC) to establish speculative position limits: (1) in any registered trading entity on or through which crude oil, gasoline, diesel fuel, jet fuel, or heating oil futures or swaps are traded that are equal to the position accountability levels or position limits established by the New York Mercantile Exchange (Exchange); and (2) that are equal to the position accountability levels or position limits established by such Exchange upon the aggregate number or amount of positions in contracts based upon the same underlying commodity that may be held by any person (including any group or class of traders) for each month across specified contracts, transactions, and swap contracts. Directs the Chairman to: (1) establish margin requirements of 12% for speculative swaps and futures trading in crude oil, gasoline, diesel fuel, jet fuel, and heating oil; (2) require each bank holding company, investment bank, hedge fund, or swaps dealer trading energy futures or swaps for its own benefit, or on behalf of, or as counterparty to, an index fund, exchange traded fund, or other noncommercial participant, to register with the CFTC as a noncommercial participant and be subject to position limits and margin requirements under this Act. Exempts bona-fide hedge trading from such position limits and margin requirements. Expresses the sense of Congress that, if finalized, the proposed position limits for derivatives that the CFTC included in a specified notice of proposed rulemaking do not fulfill the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act to diminish, eliminate, or prevent excessive speculation.

Date: 2011-06-23
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Prohibits the Securities and Exchange Commission (SEC) from entering into a lease for general purpose office space except through the General Services Administration (GSA).

Date: 2011-06-24
Topic: Domestic Commerce (Securities & Commodities)
Subject: Government operations and politics
Shareholder Protection Act of 2011 - Amends the Securities Exchange Act of 1934 to require that any solicitation of a proxy, consent, or authorization with respect to any security of an issuer: (1) describe the specific nature (to the extent known) and total amount of expenditures proposed for political activities for the forthcoming fiscal year but not yet authorized by a vote of the issuer's shareholders, and (2) provide for a separate shareholder vote to authorize such proposed expenditures. Prohibits an issuer from making an expenditure for political activities in any fiscal year unless: (1) such expenditure is of the nature of those proposed by the issuer according to the requirements of this Act; and (2) authorization for such expenditure has been granted by votes representing a majority of outstanding shares. Deems a violation of this requirement to be a breach of the fiduciary duty of the officers and directors who authorized such expenditure. Subjects officers and directors who authorize the expenditure without prior shareholder authorization to joint and several liability to any shareholder or class of shareholders for the amount of such expenditure. Requires certain institutional investment managers to disclose annually in mandatory reports how they voted (proxies) in certain shareholder votes. Prohibits any person from bringing any civil, criminal, or administrative action against an institutional investment manager, or any of its employees, officers, or directors, based solely upon the investment manager's decision to divest from, or not to invest in, securities of an issuer because of expenditures for political activities made by that issuer. Requires the Securities and Exchange Commission (SEC) to direct the national securities exchanges and national securities associations to prohibit the listing of any equity security of an issuer whose corporate bylaws do not expressly provide for a vote of the issuer's directors on any individual expenditure for political activities in excess of $50,000. Requires an issuer to make public, within 48 hours, the individual votes of the directors regarding any such expenditure. Directs the SEC to: (1) require issuers to disclose expenditures for political activities made during the preceding quarter and the individual votes by board members authorizing such expenditures; and (2) make such reports publicly available through the SEC website. Requires the SEC to make annual assessments of the compliance by public corporations and their management with the reporting and disclosure requirements of this Act, and the Comptroller General (GAO) to evaluate periodically the effectiveness of SEC oversight of these requirements.

Date: 2011-07-13
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Swap Execution Facility Clarification Act - Amends the Commodity Exchange Act to prohibit the Commodity Futures Trading Commission (CFTC), in interpreting or defining a "security-based swap execution facility," from requiring it to: (1) have a minimum number of participants receive a bid or offer or respond to any trading system or platform functionality, (2) display or delay bids or offers for any period of time, (3) limit the means of interstate commerce used by market participants to enter into and execute swap transactions on the trading system or platform, or (4) require bids or offers on one trading system or platform operated by the swap execution facility to interact with bids or offers on another trading system or platform operated by that facility. Amends the Securities Exchange Act of 1934 to prohibit the Securities and Exchange Commission (SEC), in interpreting or defining a "security-based swap execution facility," from requiring such a facility to do any of the things the CFTC is prohibited by this Act from requiring, with the exception that the SEC may not require such a facility to limit the means of interstate commerce used by market participants to enter into and execute security-based swap transactions on the method of trading functionality.

Date: 2011-07-19
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Maintaining Agency Direction on Financial Fraud Act - Prohibits any interpretive guidance issued by the Securities and Exchange Commission (SEC) which relates to "Commission Guidance Regarding Disclosure Related to Climate Change" from taking effect with respect to any person on or after February 2, 2010. Prohibits the SEC from issuing interpretive guidance: (1) with respect to disclosures related to climate change after this Act's effective date; and (2) that would establish any requirements with respect to the content of or format for any disclosures related to climate change voluntarily submitted by any entity to the SEC after such date. Prohibits the SEC from initiating any civil or administrative action or proceeding pertaining to disclosures related to climate change after this Act's enactment and terminates any such actions or proceedings that are pending. Prohibits this Act from being construed as: (1) prohibiting the SEC from issuing interpretive guidance with respect to disclosures related to non-anthropogenic or natural climate variability observed over comparable time periods; or (2) terminating an administrative action or proceeding pertaining to such disclosures.

Date: 2011-07-20
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Amends the Internal Revenue Code to allow nonrecognition of gain in a corporate reorganization for corporations that exchange property solely for stock other than nonqualified preferred stock.

Date: 2011-07-20
Topic: Domestic Commerce (Securities & Commodities)
Subject: Taxation
Business Risk Mitigation and Price Stabilization Act of 2012 - (Sec. 2) Amends the Commodity Exchange Act (CEA) to exempt, from the rules of prudential regulators for swap dealers and major swap participants with respect to initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization, those swaps in which one of the counterparties: (1) is eligible for an exception from clearing requirements for certain significant price discovery agreements, contracts, or transactions in a commodity exempt from regulation by the Commodity Futures Trading Commission (CFTC); or (2) satisfies specified criteria governing treatment of affiliates in connection with clearing requirements. Amends the Securities Exchange Act of 1934, regarding registration and regulation of security-based swap dealers and major security-based swap participants, to exempt from initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization a security-based swap in which one of the counterparties: (1) qualifies for a specified exception from clearing requirements, or (2) satisfies certain criteria governing the treatment of affiliates. (Sec. 3) Requires that the amendments to CEA made by this Act be implemented: (1) without regard to federal information policy requirements or the notice and comment requirements of federal administrative procedure; and (2) through promulgation of an interim final rule, pursuant to which public comment will be sought before a final rule is issued. Limits the disregard of such federal information policy and notice and comment requirements solely to changes to rules and regulations, or proposed rule and regulations, that are limited to, and directly a consequence of, the amendments to CEA made by this Act.

Date: 2011-07-28
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Corporate Politics Transparency Act - Amends the Securities Exchange Act of 1934 to require that quarterly and annual reports of an issuer, any proxy solicitation or consent or authorization in respect of any security, and the issuer's registration statement disclose total political expenditures in support of or in opposition to any candidate for federal, state, or local public office made by the issuer during the preceding six-year period. Requires such disclosures to include: (1) the name and political party affiliation of each candidate in support of whom or in opposition to whom a political expenditure was made; (2) the amount of each such expenditure; (3) the public office that such candidate was or is seeking; (4) the relevant state, city, or district; and (5) a statement of the issuer's interest in and reason for making such expenditure.

Date: 2011-08-01
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Access to Capital for Job Creators Act - Amends the Securities Act of 1933 to exempt from specified prohibitions relating to interstate commerce and the mails any transactions by an issuer that do not involve a public offering (as under current law), whether or not such transactions involve general solicitation or general advertising. Directs the Securities and Exchange Commission (SEC) to revise rules governing an exemption from public offering requirements for limited offers and sales without regard to the dollar amount of the offering (Regulation D), so as to provide that a specified prohibition against general solicitation or general advertising does not apply to offers and sales of securities made pursuant to Regulation D if all purchasers of the securities are accredited investors. Requires such rules to require the issuer to take reasonable steps to verify that purchasers of the securities are accredited investors, using methods determined by the SEC.

Date: 2011-09-15
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Anti-Excessive Speculation Act of 2011 - Amends the Commodity Exchange Act to revise the registration requirements for foreign boards of trade. Directs the Commodity Futures Trading Commission (CFTC) to consider whether foreign boards are subject to rules and restrictions prohibiting excessive speculation by governmental authorities that are comparable to the law, regulations, and orders applicable to boards of trade in the United States. Sets forth a presumption of excessive speculation if the CFTC, using specified criteria, determines that speculative traders in a commodity market have a substantial impact on price discovery. Establishes individual position limits on energy contracts (referencing the price of crude oil, gasoline, diesel fuel, jet fuel, heating oil, or natural gas) that are applicable to long or short positions. Defines an "excessive speculative position" as a position that affects more than 5% of: (1) the estimated deliverable supply of the same commodity in the spot month, and (2) the open interest in a contract in a single month or all months combined. Prohibits any person from holding or controlling an excessive speculative position, long or short, in an energy contract in any single market and aggregated across all markets in the spot month, a single month, or all-months combined. Directs the CFTC to establish aggregate speculative position limits for long energy contracts held by speculators as a class of traders in any single market and in all markets. Requires that such positions be capped at the average annual percentage of long open interest held by speculators in any single energy contract market and in all such markets during the preceding 25-year period (or the period during which the contract has been traded if held for less than the 25-year period). Excludes bona fide energy hedging from the computation of positions held or controlled by a person. Defines "bona fide energy hedging" as a transaction or position that is proportionate and economically appropriate for the reduction of risks in the conduct and management of a trade or business that produces, processes, merchandises, manufactures, or consumes an energy commodity. Declares that the management of financial risk associated with swaps or other similar contracts, by itself, shall not constitute bona fide hedging.

Date: 2011-09-21
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to add March 31, 2010, as a date for calculation of total consolidated assets, for purposes of exempting certain debt or equity instruments of smaller financial institutions from capital deductions requirements.

Date: 2011-10-06
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Protecting Main Street End-Users From Excessive Regulation - (Sec. 2) Amends the Commodity Exchange Act to revise the current exception to the definition of "swap dealer" to state that, in determining whether a person is a "swap dealer," no consideration shall be given to any transaction entered into for the person's own account for the purpose of hedging or mitigating commercial risk. Directs the Commodity Futures Trading Commission (CFTC) to adopt standards distinguishing: (1) the activities of a swap dealer specified in current law, and (2) entering into swaps for a person's own account in order to achieve its own trading objectives as determined by the CFTC. Directs the CFTC to exempt from designation as a swap dealer an entity that enters into swap dealing transactions with or on behalf of its customers if the aggregate gross notional amount of the outstanding swap dealing transactions entered into over the course of the preceding calendar year does not exceed $3 billion (or a greater amount, as market conditions warrant), adjusted for inflation. (Sec. 3) States that this Act shall be implemented: (1) without regard to federal law regarding coordination of federal information policy or rulemaking requirements concerning notice and comment, and (2) through promulgation of an interim final rule.

Date: 2011-11-30
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Congressional Blind Trust Act of 2011 - Amends the Ethics in Government Act of 1978 to require each Member of Congress to place all of his or her stocks, bonds, commodities futures, and other forms of securities, including securities held jointly with a spouse, in a qualified blind trust. Exempts from such requirement any financial interests in or income derived from: (1) the Civil Service Retirement System (CSRS) or the Federal Employees' Retirement System (FERS), including the Thrift Savings Plan (TSP); (2) any other federal retirement system for U.S. officers and employees, including the President, or for members of the uniformed services; or (3) benefits received under the Social Security Act. Requires new Members to comply with this Act within 30 days after taking office, and incumbent Members within 30 days after enactment of this Act. Allows a Member to file, as appropriate, with the Clerk of the House of Representative or the Secretary of the Senate for an additional 30-day extension in order to comply. Authorizes the Attorney General to bring a civil action against any Member of Congress for noncompliance.

Date: 2011-12-02
Topic: Domestic Commerce (Securities & Commodities)
Subject: Congress
Restoring Ethical Standards, Transparency, and Responsibility in Congressional Trading Act or RESTRICT Act - Amends the Ethics in Government Act of 1978 to require the President, the Vice President, Members of Congress, and certain federal officers and employees to: (1) place all of his or her stocks, bonds, commodities futures, and other forms of securities, including securities held jointly with a spouse or dependent child, in a qualified blind trust; or (2) file a report with the appropriate ethics officer, within three business days after a transaction is settled, on any purchase, sale, or exchange in stocks, bonds, commodities futures, and other forms of securities, including those jointly held with the individual's spouse or dependent child. Exempts from this requirement any financial interests in or income derived from: (1) the Civil Service Retirement System (CSRS) or the Federal Employees' Retirement System (FERS), including the Thrift Savings Plan (TSP); (2) any other federal retirement system for U.S. officers and employees, including the President, or for members of the uniformed services; or (3) benefits received under the Social Security Act. Subjects violators of this Act to specified civil and criminal penalties.

Date: 2011-12-02
Topic: Domestic Commerce (Securities & Commodities)
Subject: Congress
Wall Street Accountability through Sustainable Funding Act - Amends the Commodity Exchange Act to require the Commodity Futures Trading Commission (CFTC) to impose a fee on each agreement, contract, or transaction that is a contract of sale of a commodity for future delivery, an option on such a contract, or a swap to recover the government's cost of the annual CFTC appropriation for the fiscal year.

Date: 2011-12-14
Topic: Domestic Commerce (Securities & Commodities)
Subject: Agriculture and food
Amends the Securities Exchange Act of 1934 to direct the Securities and Exchange Commission (SEC) to promulgate final rules requiring each securities issuer required to file annual reports to: (1) determine the 5 compensation brackets in which its employees reside (where such brackets contain an equal number of employees and range from the 20% of employees with the lowest compensation to the 20% with the highest compensation), and (2) include in the issuer's annual reports the number of minorities and women employed that fall into each of the compensation brackets. Requires such issuers, for purposes of identifying an employee as a minority or woman under this Act, to rely on self-reporting by the employee.

Date: 2012-01-18
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Outsourcing Accountability Act of 2012 - Amends the Securities Exchange Act of 1934 to require registered securities issuers to disclose annually to the Securities and Exchange Commission (SEC) and to shareholders: (1) the total number of employees domiciled in the United States and listed by number in each state (including those of consolidated subsidiaries); (2) the total number of such employees physically working in and domiciled in any country other than the United States, listed by number in each country; and (3) the percentage increase or decrease in such numbers from the previous reporting year. Exempts from such requirements: (1) certain new public companies, and (2) issuers with total annual gross revenues of less than $1 billion during the most recently completed fiscal year.

Date: 2012-02-01
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Improving Security for Investors and Providing Closure Act of 2012 or Improving SIPC Act of 2012 - Amends the Securities Investor Protection Act of 1970 with respect to any action in a U.S. district court by the Securities and Exchange Commission (SEC) against the Securities Investor Protection Corporation (SIPC) in the event that the SIPC refuses to commit its funds or otherwise act for the protection of customers of any SIPC member (debtor broker or dealer). Authorizes the SIPC, at the time such an SEC action against it is initiated, to allow all customers of the debtor broker or dealer to elect to receive a one-time payment from the SIPC Fund to settle their net equity claims against the debtor. Prescribes procedures for such a customer election. Limits the amount paid to a customer under this election to the customer's net equity claims against the debtor. Caps at $500,000 the amount of a one-time payment the SIPC can make under this election. Subrogates SIPC to all rights of the customer against the debtor, regardless of whether the one-time payment was in an amount to fully satisfy the customer's claims against the debtor. Treats a certificate of deposit (CD) purchased by a person through an account with the debtor as cash deposited and held by the debtor in an amount equal to the amount the person paid for the CD, less any amounts paid to such person on the CD.

Date: 2012-02-09
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Capital Expansion Act - Amends the Securities Exchange Act of 1934 regarding registration of securities to modify the registration threshold for an issuer that is either a bank or a bank holding company as well as for an issuer that is neither a bank nor a bank holding company. Raises from $1 million to $10 million the threshold for total assets of an issuer that requires registration of a certain class of equity security. Divides the holding threshold that requires registration of such a class of equity security, however, into: (1) 2,000 holders of record if the issuer is a bank or a bank holding company, and (2) 500 holders of record if the issuer is neither. Requires termination of a security registration in the case of a bank or a bank holding company if the number of holders of record of the class of security is reduced to less than 1,200. Directs the Securities and Exchange Commission (SEC) to issue final regulations to implement this Act.

Date: 2012-02-24
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Swap Data Repository and Clearinghouse Indemnification Correction Act of 2012 - Amends the Commodity Exchange Act, with respect to derivatives clearing organizations and swap data repositories, to repeal the prerequisite that, before the Commodity Futures Trading Commission (CFTC) may share information with specified regulatory agencies, such agencies must agree to indemnify the CFTC for expenses arising from litigation relating to information so provided. Amends the Securities Exchange Act of 1934 to repeal similarly the prerequisite that, before a security-based swap data repository may share information with specified regulatory entities, such entities must agree to indemnify both such repository and the Securities and Exchange Commission (SEC) for expenses arising from litigation relating to information so provided.

Date: 2012-03-21
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Instructs the Commodity Futures Trading Commission (CFTC) to use its authority (including emergency powers) to: (1) to curb immediately the role of excessive speculation in any contract market within its jurisdiction and control that is serving as a platform for the trading of energy futures or swaps; and (2) eliminate excessive speculation, price distortion, sudden or unreasonable fluctuations, unwarranted changes in prices, or other unlawful activity that is causing major market disturbances that prevent the market from accurately reflecting the forces of supply and demand for energy commodities; and (3) prioritize finalizing and enforcing a position limits regime designed to diminish, eliminate, or prevent excessive speculation in energy markets.

Date: 2012-04-18
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Instructs the Commodity Futures Trading Commission (CFTC) to use its authority (including emergency powers) to: (1) to curb immediately the role of excessive speculation in any contract market within its jurisdiction and control that is serving as a platform for the trading of energy futures or swaps; and (2) eliminate excessive speculation, price distortion, sudden or unreasonable fluctuations, unwarranted changes in prices, or other unlawful activity that is causing major market disturbances that prevent the market from accurately reflecting the forces of supply and demand for energy commodities.

Date: 2012-04-19
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Halt Index Trading of Energy Commodities (HITEC) Act - Amends the Commodity Exchange Act to declare unlawful for: (1) a commodity index fund to engage in an energy commodity transaction if any person investing in the fund is an excluded investor, (2) an energy commodity index fund to accept an investment from a person who is an excluded investor, or (3) a commodity index fund to hold an investment in an energy commodity if any person investing in the fund is an excluded investor. Defines "excluded investor" as a person with respect to whom there is no position in an energy commodity which, if held by the person, would be considered a bona fide hedging position.

Date: 2012-04-27
Topic: Domestic Commerce (Securities & Commodities)
Subject: Energy
Manufacturing Certainty and Captive Finance Affiliate Clarification Act - Amends the Commodity Exchange Act to redefine an exclusion from "major swap participant" (and as a result from the swap clearing requirement) an entity (captive finance company) whose primary business is providing financing that facilitates the sale or lease of products by or on behalf of the parent company or its subsidiary, and uses derivatives only for the purpose of hedging underlying commercial risks in a consolidated financing and leasing portfolio at least 90% of which, as of the end of its preceding fiscal year, is qualifying financing (including loans, notes, installment sales contracts, receivables, and operating and financing leases). Declares amendments made by this Act effective as of the enactment of the Wall Street Transparency and Accountability Act of 2010 (title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act).

Date: 2012-05-08
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Next Steps for Credit Availability Act - Amends the Investment Company Act of 1940 to allow a business development company (BDC) to own or acquire securities or other interests in the business of a registered investment adviser or adviser to an investment company. Reduces from 200% to 150% the asset coverage requirements applicable to BDCs. Allows a BDC to issue stock. Directs the Securities and Exchange Commission (SEC) to revise various rules under the Securities Act of 1933 and to revise forms as necessary to allow a BDC to use security offering rules available to other issuers that are required to file security issuance reports under the Securities Exchange Act of 1934.

Date: 2012-06-08
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Liquidity Enhancement for Small Public Companies Act - Amends the Securities Exchange Act of 1934 to prohibit the Securities and Exchange Commission (SEC) from proposing, adopting, maintaining, or enforcing any rule, regulation, policy, or procedure that bars a national securities exchange from implementing a program under which either the exchange, an entity that lists securities on a national securities exchange, an entity determined appropriate by the SEC, or any other entity determined appropriate by a national securities exchange provides financial incentives to market makers that adhere to standards of market quality established by the rules of the exchange. Prohibits a registered national securities association from adopting, maintaining, or proposing any rule, regulation, policy, or procedure that bars a national securities exchange from implementing a program under which the securities of an issuer determined appropriate by the SEC for listing on a national securities exchange provides financial incentives to market makers that adhere to standards of market quality established by the exchange.

Date: 2012-07-13
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Fostering Innovation Act - Directs the Securities and Exchange Commission (SEC) to redefine "accelerated filer" with respect to issuers of securities required to meet accelerated deadlines for filing their Form 10-Q quarterly reports. Requires the SEC to include among accelerated filers any issuers of securities that have: (1) annual revenues in excess of $100 million, and (2) an aggregated worldwide market value of the voting and non-voting common equity held by non-affiliates of between $250 million and $700 million.

Date: 2012-07-19
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Investment Adviser Examination Improvement Act of 2012 - Declares the sense of Congress that the Securities and Exchange Commission (SEC) should increase the number and frequency of examinations of investment advisers. Amends the Investment Advisers Act of 1940 to direct the SEC to collect an annual fee from investment advisers subject to SEC inspection or examination to defray the cost of such inspections and examinations. Exempts certain state-regulated investment advisers from the requirement to pay an annual fee. Prescribes a fee calculation formula. Requires the SEC to make the formula publicly available on its website along with the factors used to reach the fee determination. Requires the Comptroller General to audit biennially the use of such fees, SEC reviews of the fee formula, and any adjustments to it. Makes such fees available to the SEC, without further appropriation or fiscal year limitation, to pay costs associated with inspecting and examining investment advisers.

Date: 2012-07-25
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Credible Ratings Act of 2012 - Amends the Securities Exchange Act of 1934 to require the annual internal controls report of each nationally recognized statistical rating organization (NRSRO) to the Securities and Exchange Commission (SEC) to contain a certification that the NRSRO monitors the credit ratings it issues, at least quarterly, in order to ensure that they are as accurate as possible based upon the NRSRO's procedures and methodologies as furnished to the SEC.

Date: 2012-09-21
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
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.

Date: 2012-11-29
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Postpones until April 15, 2013, the effective date of the requirement under the Stop Trading on Congressional Knowledge Act of 2012 (STOCK Act) that the Secretary of the Senate, the Sergeant at Arms of the Senate, and the Clerk of the House of Representatives ensure that financial disclosure forms filed by congressional officers and employees be made available to the public on the respective official Senate and House websites within 30 days after filing. Postpones until the same date the effective date of the requirement that the President ensure that financial disclosure forms filed by executive branch employees are publicly available on appropriate official websites of executive branch agencies within such period. Excludes from these effective date postponements the President, Vice President, Members of Congress, congressional candidates, and any officer occupying a position listed under Level I and Level II of the Executive Schedule having been nominated by the President and confirmed by the Senate. (Thus maintains September 30, 2012, as the effective date of the requirement that such individuals make their financial disclosure forms available to the public.)

Date: 2012-12-05
Topic: Domestic Commerce (Securities & Commodities)
Subject: Government operations and politics
Equitable Treatment of Investors Act - Amends the Securities Investor Protection Act of 1970 to revise the definition of "net equity." Bases the determination of net equity, the positions, options, and contracts of a customer reported to the customer as held by the debtor, and any indebtedness of the customer to the debtor, upon: (1) the information contained in the last statement issued by the debtor to the customer before the filing date; and (2) any additional written confirmations of the customer's positions, options, contracts, or indebtedness received after such last statement but before the filing date. Makes an exception to this requirement when a debtor's recorders indicate a higher value. Requires determination of the customer's net equity using the debtor's books and records instead of the customer's last statement when the debtor's books and records indicate that the net value of a customer's positions, options, and contracts reported to the customer as held by the debtor, and any indebtedness of the customer to the debtor, is greater than the customer's net value as calculated on the basis specified by this Act. Prohibits reliance on the final statement of the debtor to customer, however, if the customer: (1) knew the debtor was involved in fraudulent activity with respect to any of its customers which reasonably indicated a fraud adversely affecting a substantial number of customers; or (2) as a registered broker, dealer, or investment adviser under specified securities laws, or a person required to be so registered, knew, or should have known, that the debtor was involved in a fraudulent activity and did not notify the Securities Investor Protection Corporation (SIPC), the Securities and Exchange Commission (SEC), or law enforcement personnel. Prohibits a trustee in bankruptcy in a liquidation proceeding from recovering any property transferred by the debtor to a customer before the filing date unless, at the time of such transfer, the customer meets the same criteria regarding actual or constructive knowledge of the debtor's involvement in fraudulent activity. Prescribes alternative methodologies for allocation of customer property to customers by a trustee in a liquidation proceeding. Requires public notice and comment as a prerequisite to court approval of a proposed allocation methodology. Transfers from the SIPC to the SEC authority to nominate to a court persons for appointment as trustee for the liquidation of a debtor's business and as attorney for the trustee. Prohibits a trustee from serving in multiple liquidations if the trustee is currently serving as such under this Act for the liquidation of the business of another debtor. Sets forth requirements for trustee and attorney compensation. Requires the SIPC to issue quarterly public reports on its payments to the trustee, as well as all other costs in connection with the liquidation proceeding. Prescribes the timing of: (1) SIPC advances, and (2) payments to customers.

Date: 2012-12-20
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector
Amends the Securities Exchange Act of 1934 regarding registration of securities to modify the registration threshold for an issuer that is either a bank or a bank holding company as well as for an issuer that is neither a bank nor a bank holding company. Raises from $1 million to $10 million the threshold for total assets of an issuer that requires registration of a certain class of equity security. Divides the holding threshold that requires registration of such a class of equity security, however, into: (1) 2,000 holders of record if the issuer is a bank or a bank holding company, and (2) 500 holders of record if the issuer is neither. Requires termination of a security registration in the case of a bank or a bank holding company if the the number of holders of record of the class of security is reduced to less than 1,200. Directs the Chief Economist and the Director of the Division of Corporation Finance of the Securities and Exchange Commission (SEC) to study and make a cost-benefit analysis of shareholder registration thresholds.

Date: 2011-03-10
Topic: Domestic Commerce (Securities & Commodities)
Subject: Finance and financial sector