Competitive Market Supervision Act

openUnited States· United States Congress· EN

Introduced

28 February 2000

Last action

25 July 2000 · Reported

Status

Placed on Senate Legislative Calendar under General Orders. Calendar No. 712.

Summary

Competitive Market Supervision Act - 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 2001 through 2006; and (3) set a permanent rate for FY 2007 and thereafter (presently such rates phase out after FY 2006). (Sec. 3) 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. (Sec. 4) Replaces the statutory transaction fee formula for either 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. (Sec. 5) Prescribes guidelines for adjustments to fee rates, 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 estimates of collections. 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. (Sec. 7) Revises guidelines governing SEC employee appointment and compensation to include conformance with guidelines covering Federal agency employees under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

28 February 2000
Committee
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 106-937.
Source: Committee
28 February 2000
Introduced
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Source: IntroReferral
28 February 2000
Introduced
Introduced in Senate
Source: IntroReferral
13 July 2000
Reported
Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment favorably.
Source: Committee
25 July 2000
Calendars
Placed on Senate Legislative Calendar under General Orders. Calendar No. 712.
Source: Calendars
25 July 2000
Reported
Committee on Banking, Housing, and Urban Affairs. Reported by Senator Gramm with amendments. With written report No. 106-360. Additional views filed.
Source: Committee
25 July 2000
Reported
Committee on Banking, Housing, and Urban Affairs. Reported by Senator Gramm with amendments. With written report No. 106-360. Additional views filed.
Source: Committee

Votes

No vote records are attached yet.

Versions

Reported to Senate · 25 July 2000 · Download file
Introduced in Senate · 28 February 2000 · Download file

Documents

6 official files

Reported to Senate (text)

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Reported to Senate (text)
Reported to Senate · EN · 25 July 2000
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Reported to Senate (PDF)
Reported to Senate · EN · 25 July 2000
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Reported to Senate with amendment(s)
summary · EN · 25 July 2000
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Introduced in Senate (text)
Introduced in Senate · EN · 28 February 2000
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Introduced in Senate (PDF)
Introduced in Senate · EN · 28 February 2000
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Introduced in Senate
summary · EN · 28 February 2000
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Related records

amends ← To allow Federal securities enforcement actions to be predicated on State securities enforcement actions, to prevent migration of rogue securities brokers between and among financial services industries, and for other purposes.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/106th-congress/senate-bill/2107
Open data entity: https://api.congress.gov/v3/bill/106/s/2107
us · 106-s-2107 · source updated 7 April 2025