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Securities Clarity Act

12/15/2023, 3:58 PM

Summary of Bill HR 3572

The Securities Clarity Act, also known as Bill 118 hr 3572, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to provide clarity and transparency in the regulation of securities in the United States.

The Securities Clarity Act aims to address issues related to the regulation of securities by clarifying the definition of what constitutes a security and providing clear guidelines for companies and individuals involved in the buying and selling of securities. The bill also seeks to streamline the regulatory process for securities transactions and make it easier for businesses to comply with securities laws.

One of the key provisions of the Securities Clarity Act is the establishment of a clear definition of what constitutes a security. This definition is important because it determines which securities are subject to regulation by the Securities and Exchange Commission (SEC) and other regulatory bodies. By providing a clear definition, the bill aims to reduce confusion and uncertainty in the securities market. Another important aspect of the Securities Clarity Act is the provision of clear guidelines for companies and individuals involved in securities transactions. The bill outlines the responsibilities of issuers, brokers, and other parties involved in the buying and selling of securities, and provides clear rules for compliance with securities laws. Overall, the Securities Clarity Act is aimed at promoting transparency and efficiency in the regulation of securities in the United States. By providing clear definitions and guidelines for securities transactions, the bill seeks to create a more stable and secure environment for investors and businesses alike.

Congressional Summary of HR 3572

Securities Clarity Act

This bill excludes an investment contract asset as being considered a security, including for disclosure and registration purposes. An investment contract asset as defined by the bill is a tangible or intangible asset, including a digital asset, sold pursuant to an investment contract that is not otherwise considered a security.

Current Status of Bill HR 3572

Bill HR 3572 is currently in the status of Bill Introduced since May 22, 2023. Bill HR 3572 was introduced during Congress 118 and was introduced to the House on May 22, 2023.  Bill HR 3572's most recent activity was Referred to the House Committee on Financial Services. as of May 22, 2023

Bipartisan Support of Bill HR 3572

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
2
Democrat Cosponsors
2
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 3572

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill HR 3572

Securities Clarity Act
Securities Clarity Act
To amend the securities laws to exclude investment contract assets from the definition of a security.

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