H.R. 3555 — Introduced in House

I 115th CONGRESS 1st Session H. R. 3555 IN THE HOUSE OF REPRESENTATIVES July 28, 2017Mr. Loudermilk (for himself, Mr. Meeks, Mr. Hultgren, Mr. David Scott of Georgia, and Mr. Zeldin) introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Securities Exchange Act of 1934 to provide that the definition of a facility of an exchange does not apply to a line of business the purpose of which is not to effect or report a transaction on an exchange. 1. Short title This Act may be cited as the Exchange Regulatory Improvement Act. 2. Facility defined Section 3(a)(2) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(2)) is amended by striking the period at the end and inserting the following: for the purpose of effecting or reporting a transaction on an exchange. Such term does not include any premises or property, or the right to use any premises, property, or service, to the extent such premises or property is used with respect to, or such right relates to use with respect to, a line of business the purpose of which is not to effect or report a transaction on an exchange..