summary
Introduced
10/05/2017
10/05/2017
In Committee
10/12/2017
10/12/2017
Crossed Over
11/14/2017
11/14/2017
Passed
Dead
12/31/2018
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)
Official Document
bill text
bill summary
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bill summary
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bill summary
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