Government Securities Reform Act of 1993

Summary

Government Securities Reform Act of 1993 - Amends the Securities Exchange Act of 1934 to extend through FY 1997 the rulemaking authorities of the Secretary of the Treasury (the Secretary) regarding capital adequacy and recordkeeping requirements for government securities dealers. Authorizes the Securities and Exchange Commission (SEC) to promulgate recordkeeping requirements with respect to government securities transactions executed by dealers or brokers. Requires such traders to furnish, upon request of the appropriate regulatory agency, records that enable it to reconstruct trading. Authorizes the Secretary of the Treasury to prescribe reporting and recordkeeping requirements for persons who hold or control large positions in to-be-issued or recently-issued Treasury securities. Permits such information to be exchanged among specified regulatory agencies. Authorizes the appropriate regulatory agency to promulgate rules designed to prevent fraud or manipulation in government securities transactions. Removes the limitations placed upon the authority of registered securities associations to regulate member transactions in government securities. Authorizes the SEC to: (1) prescribe rules to assure that government securities information systems meet statutory objectives of quality and transparency; (2) require certain government securities traders to report transactions to a securities information processor or self-regulatory organization that agrees to make it publicly available; and (3) require such processor or self-regulatory organization to make government securities purchase and sales information publicly available. Bars the SEC from requiring the establishment or use of a consolidated trading system for government securities. Requires the Secretary, the SEC, and the Board of Governors of the Federal Reserve System to: (1) evaluate the efficiency of private sector efforts to disseminate price and volume information of mortgage-backed government securities; and (2) jointly study and report to the Congress on the government securities regulatory system. Requires the General Accounting Office to study and report to the Congress on the effectiveness of regulation of government securities brokers and dealers.

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Documents

7 official files

• Passed House amended

  summary · EN · 5 October 1993

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• Reported in House (text)

  Reported in House · EN · 23 September 1993

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• Reported in House (PDF)

  Reported in House · EN · 23 September 1993

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• Reported to House with amendment(s)

  summary · EN · 23 September 1993

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• Introduced in House (text)

  Introduced in House · EN · 26 January 1993

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• Introduced in House (PDF)

  Introduced in House · EN · 26 January 1993

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• Introduced in House

  summary · EN · 26 January 1993

  Open at official source

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