In CommitteeFiled Apr 16, 2026
Sponsor: Rep. Donalds, Byron [R-FL-19] (R)
Latest Action
Referred to the House Committee on Financial Services.
Apr 16, 2026
Summary
The bill amends the 1934 Securities Exchange Act to give a specific definition of a dealer as anyone who buys securities from customers for their own account and later sells securities they have bought for their own account. It also creates a transition period requiring courts and the SEC to vacate orders or judgments that would not have occurred under the new definition. The changes take effect 30 days after enactment.
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