Bill

Bill > HR3973


US HR3973

Market Data Protection Act of 2017


summary

Introduced
10/05/2017
In Committee
10/12/2017
Crossed Over
11/14/2017
Passed
Dead
12/31/2018

Introduced Session

115th Congress

Bill Summary

Market Data Protection Act of 2017 (Sec. 2) This bill amends the Securities Exchange Act of 1934 to require the Securities and Exchange Commission, the Financial Industry Regulatory Authority, and the operator of the consolidated audit trail (a database that tracks trading in equities and options markets) to develop internal risk control mechanisms to protect stored market data. The operator of the consolidated audit trail may not accept market data until these mechanisms are developed.

AI Summary

This bill, the Market Data Protection Act of 2017, amends the Securities Exchange Act of 1934 to require the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and the operator of the consolidated audit trail (a database that tracks trading in equities and options markets) to develop comprehensive internal risk control mechanisms to safeguard and govern the storage of market data. The bill prohibits the operator of the consolidated audit trail from accepting market data until these mechanisms are developed.

Committee Categories

Business and Industry, Housing and Urban Affairs

Sponsors (2)

Last Action

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 11/14/2017)

bill text


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