H.R. 1418 would eliminate the exemption from State regulation for certain securities designated by national securities exchanges.
Detailed Summary
Amends the Securities Act of 1933, with respect to exclusive federal registration of nationally traded securities, to exclude from exclusive federal regulation, and thus permit state regulation of, certain securities anyone of specified securities exchanges has listed (or authorized for listing) in a tier or segment for uncovered securities, according to standards for designating such a tier or segment the exchange has adopted.
Status of the Legislation
Latest Major Action: 3/10/2009: Referred to House committee. Status: Referred to the House Committee on Financial Services.
Points in Favor
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Points Against
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