H.R. 2534 - Insider Trading Prohibition Act

Bill Text

    Rules Committee Print 116-39 PDF XML

    Showing the text of H.R. 2534, as reported by the Committee on Financial Services, with modifications.

    Text of H.R. 2534 PDF XML

    (as reported)

    H. Rept. 116-219 PDF

    Report from the Committee on Financial Services to accompany H.R. 2534

    Comparative Print PDF

    Comparing the base document H.R. 2534, as reported, with the Rules Committee Print 116-39.

Rule Information

REPORTED BY A RECORD VOTE OF 7-4 on Tuesday, December 3, 2019.

Agreed to by record vote of 225-196, after agreeing to the previous question by record vote of 226-193, on Wednesday, December 4, 2019.

MANAGERS: Perlmutter/Woodall

1. Structured rule for H.R. 2534.
2. Provides one hour of general debate on the bill equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services.
3. Waives all points of order against consideration of the bill.
4. Provides that an amendment in the nature of a substitute consisting of the text of Rules Committee Print 116-39 shall be considered as adopted and the bill, as amended, shall be considered as read.
5. Waives all points of order against provisions in the bill, as amended.
6. Makes in order only those amendments printed in the Rules Committee report. Each such amendment may be offered only in the order printed in the report, may be offered only by a Member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question.
7. Waives all points of order against the amendments printed in the report.
8. Provides one motion to recommit with or without instructions.

9. Provides that a motion to discharge House Concurrent Resolution 77 shall be in order on December 11, 2019, if offered by Representative Gabbard, with 20 minutes of debate equally divided and controlled by Representative Gabbard and an opponent.
10. Provides that the provisions of section 7 of the War Powers Resolution (50 U.S.C. 1546) shall not apply during the remainder of the One Hundred Sixteenth Congress to House Concurrent Resolution 77.

Amendments (click headers to sort)

#Version #Sponsor(s)PartySummaryStatus
1Version 1Huizenga (MI)RepublicanStrikes the term “aware of” included in the bill and replaces with the term “using”.Made in Order
2Version 1Steil (WI)RepublicanStrikes the phrase “or relating to the market for such security, security-based swap, or security-based swap agreement” from the underlying bill.Submitted
3Version 1Huizenga (MI)RepublicanProvides for an explicit personal benefit test in the bill.Submitted
4Version 3Kelly, Robin (IL), Foster (IL)DemocratWithdrawn Requires a report on efforts that the SEC has taken to use artificial intelligence and other machine learning technologies to track and identify potential instances of insider trading, and any and all planned future efforts to use such technologies in the SEC's investigations, market surveillance activities, and enforcement actions related to insider trading. The SEC may exclude from the report any information about the underlying technologies used by the SEC, disclosure of which would compromise the SEC's ability to detect, investigate, or enforce insider trading laws.Withdrawn
5Version 1Brown (MD)DemocratLate Withdrawn Requires the Securities and Exchanges Commission (SEC) to conduct a study determining the impact of online platforms on the markets and on how insider trading rules apply to online platforms. Requires the SEC to submit a report to Congress containing all findings and determinations made in carrying out the study.Withdrawn
6Version 1McHenry (NC)RepublicanLate Clarifies “relating to the market,” adds an explicit personal benefit test, and strikes the Rule of Construction.Made in Order