H.R. 5421 — Introduced in House

I 114th CONGRESS 2d Session H. R. 5421 IN THE HOUSE OF REPRESENTATIVES June 9, 2016 Mr. Royce introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Securities Act of 1933 to apply the exemption from State regulation of securities offerings to securities listed on a national security exchange that has listing standards that have been approved by the Commission. 1. Short title This Act may be cited as the National Securities Exchange Regulatory Parity Act of 2016. 2. Application of exemption Section 18(b) of the Securities Act of 1933 (15 U.S.C. 77r(b)) is amended— (1) by striking subparagraph (A); (2) in subparagraph (B), by striking that the Commission determines by rule (on its own initiative or on the basis of a petition) are substantially similar to the listing standards applicable to securities described in subparagraph (A) and inserting that has been approved by the Commission; (3) in subparagraph (C), by striking or (B); and (4) by redesignating subparagraphs (B) and (C) as subparagraphs (A) and (B), respectively.