Bond Transparency Act of 2014
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Mar 12, 2014)
Bond Transparency Act of 2014 - Amends the Securities Exchange Act of 1934 to define a "riskless principal transaction" as any transaction the Securities and Exchange Commission (SEC) identifies as one, but primarily one in which a broker, dealer, or municipal securities dealer acts on a customer order to buy or sell either municipal securities or corporate debt securities while also acting as principal for its own account in order to complete the transaction.
Requires a broker or dealer, at or before completion of the transaction, to make a markup disclosure in writing to the customer of the difference between either: (1) the customer's purchase price and the broker or dealer's purchase price; or (2) the customer's sale price and the broker or dealer's sale price.
Subjects riskless principal transactions in corporate debt securities to the same markup disclosure requirements as those for riskless principal transactions in municipal securities.
What just happenedMar 12, 2014
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Who’s behind it
- Introduced in SenateMar 12, 2014
- Mar 12, 2014IntroReferral
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Mar 12, 2014IntroReferral10000
Introduced in Senate