Competitive Market Supervision Act of 2001

Summary

Competitive Market Supervision Act of 2001 - Amends the Securities Act of 1933 to: (1) eliminate the general revenue fees on securities for the cost of the securities registration process; (2) set a uniform and higher rate for the offsetting collection fee schedule for FY 2002 through 2006; and (3) set a permanent rate for FY 2007 and thereafter (currently such rates phase out after FY 2006). Amends the Securities Exchange Act of 1934 to revise the filing fees related to the purchase of securities by issuers and to preliminary proxy solicitations to reflect such modified offsetting collection fee schedule. Mandates that fees collected during any fiscal year be deposited and credited as offsetting collections. Replaces the statutory transaction fee formula governing a national securities exchange or national securities association with a transaction offsetting collection rate which is the uniform rate required to reach a specified transaction fee cap for the fiscal year. Prescribes guidelines for fee rate adjustments, including: (1) estimates of collections; (2) a floor for total fee collections; and (3) a cap on total fee collections. Instructs the Securities and Exchange Commission (SEC) to explain to certain congressional committees the methodology used to make its collections estimates. Shields SEC determinations and actions from judicial review. Requires the SEC to notify each national securities exchange or national securities association prior to taking action with respect to either a total fee collection floor or a total fee collection cap. Revises guidelines governing SEC employee appointment and compensation to conform with guidelines covering Federal agency employees under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.

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Documents

9 official files

• Engrossed in Senate (text)

  Engrossed in Senate · EN · 22 March 2001

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• Engrossed in Senate (PDF)

  Engrossed in Senate · EN · 22 March 2001

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• Passed Senate amended

  summary · EN · 22 March 2001

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• Reported to Senate (text)

  Reported to Senate · EN · 14 March 2001

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• Reported to Senate (PDF)

  Reported to Senate · EN · 14 March 2001

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• Reported to Senate with amendment(s)

  summary · EN · 14 March 2001

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• Introduced in Senate (text)

  Introduced in Senate · EN · 22 January 2001

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 22 January 2001

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• Introduced in Senate

  summary · EN · 22 January 2001

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