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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Timeline

1. 22 January 2001

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S416-418)

   Source: IntroReferral

2. 22 January 2001

   Introduced

   Sponsor introductory remarks on measure. (CR S415-416, S418-419)

   Source: IntroReferral

3. 22 January 2001

   Introduced

   Introduced in Senate

   Source: IntroReferral

4. 14 February 2001

   Committee

   Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 107-266.

   Source: Committee

5. 1 March 2001

   Reported

   Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.

   Source: Committee

6. 14 March 2001

   Calendars

   Placed on Senate Legislative Calendar under General Orders. Calendar No. 20.

   Source: Calendars

7. 14 March 2001

   Reported

   Committee on Banking, Housing, and Urban Affairs. Reported by Senator Gramm with an amendment in the nature of a substitute. With written report No. 107-3. (text of measure as reported in Senate: CR 3/22/2001 S2785-2788)

   Source: Committee

8. 14 March 2001

   Reported

   Committee on Banking, Housing, and Urban Affairs. Reported by Senator Gramm with an amendment in the nature of a substitute. With written report No. 107-3.(text of measure as reported in Senate: CR 3/22/2001 S2785-2788)

   Source: Committee

9. 22 March 2001

   Floor

   Measure laid before Senate by unanimous consent. (consideration: CR S2785-2792)

   Source: Floor

10. 22 March 2001

    Passed

    Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(text: CR S2789-2792)

    Source: Floor

11. 25 May 2001

    Floor

    Held at the desk.

    Source: Floor

12. 25 May 2001

    Floor

    Received in the House.

    Source: Floor

13. 25 May 2001

    Floor

    Message on Senate action sent to the House.

    Source: Floor

Votes

No vote records are attached yet.

Versions

• Engrossed in Senate · 22 March 2001 · Download file
• Reported to Senate · 14 March 2001 · Download file
• Introduced in Senate · 22 January 2001 · Download file

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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  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Introduced in Senate

  summary · EN · 22 January 2001

  Open at official source

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Sponsors

• Sen. Gramm, Phil [R-TX] · R · Sponsor
• Sen. Schumer, Charles E. [D-NY] · D · Sponsor
• Sen. Hagel, Chuck [R-NE] · R · Sponsor
• Sen. Enzi, Michael B. [R-WY] · R · Sponsor
• Sen. Bennett, Robert F. [R-UT] · R · Sponsor
• Sen. Bunning, Jim [R-KY] · R · Sponsor
• Sen. Bond, Christopher S. [R-MO] · R · Sponsor
• Sen. Torricelli, Robert G. [D-NJ] · D · Sponsor
• Sen. Allard, Wayne [R-CO] · R · Sponsor
• Sen. Crapo, Mike [R-ID] · R · Sponsor
• Sen. Bayh, Evan [D-IN] · D · Cosponsor
• Sen. Miller, Zell [D-GA] · D · Cosponsor
• Sen. Boxer, Barbara [D-CA] · D · Cosponsor
• Sen. Ensign, John [R-NV] · R · Cosponsor
• Sen. Santorum, Rick [R-PA] · R · Cosponsor
• Sen. Lugar, Richard G. [R-IN] · R · Cosponsor
• Sen. Allen, George [R-VA] · R · Cosponsor
• · ssbk00 · Standing

Related records

• related to → Investor and Capital Markets Fee Relief Act
• amends ← To provide for a demonstration project under title 5, United States Code, relating to compensation of employees of the Securities and Exchange Commission, and for other purposes.
• amends ← To require a study to be conducted by the Securities and Exchange Commission for the purpose of determining the extent to which reductions in fees are passed on to investors.