Government Securities Act of 1986

Summary

Public Securities Act of 1985 - Title I: Establishment of a Self-Regulatory Organization with Respect to Municipal and Government Securities - Amends the Securities Exchange Act of 1934 to expand provisions concerning the registration, regulation, and disciplining of municipal securities dealers to govern all public securities dealers. Defines "public securities" as municipal and Government securities. Reestablishes the Municipal Securities Rulemaking Board (MSRB) as the Public Securities Rulemaking Board (PSRB) and increases its membership by two. Empowers the Board to formulate rules regulating: (1) the amount of initial and maintenance margin in connection with the purchase, sale, or carrying of Government securities; (2) the type of deposit or collateral which shall be furnished; (3) the carrying of undermargined accounts for limited periods and under specified conditions; (4) the withdrawal of funds or securities; (5) the substitution or additional purchase of securities; (6) the transfer of accounts from one Government securities broker or dealer to another; (7) special or different margin requirements for delayed deliveries, short sales, repurchase and reverse repurchase agreements, and arbitrage transactions; and (8) the bases and methods to be used in calculating collateral deposits, margins, and market prices. Part B: Conforming Amendments - Sets forth conforming amendments. Empowers the Board of Governors of the Federal Reserve System to prescribe requirements for the initial or subsequent maintenance of a deposit in connection with the purchase, sale, or carrying of a Government security. Directs the Securities and Exchange Commission to consult with the Federal Reserve Board and the Department of the Treasury when prescribing capital requirements for Government securities dealers to assure that such requirements do not adversely affect the efficiency, liquidity, or integrity of Government securities markets. Title II: Transitional and Savings Provisions - Provides for the: (1) transfer and allocation of funds and personnel from the MSRB to the PSRB; (2) termination of the MSRB; and (3) continuation of MSRB authorities, administrative proceedings, and judicial proceedings. Title III: Effective Dates - Makes this Act effective 180 days after enactment. Provides effective dates for appointment and rulemaking authority under this Act.

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

Timeline

1. 15 April 1985

   Introduced

   Referred to House Committee on Energy and Commerce.

   Source: IntroReferral

2. 15 April 1985

   Introduced

   Introduced in House

   Source: IntroReferral

3. 15 April 1985

   Introduced

   Introduced in House

   Source: IntroReferral

4. 22 April 1985

   Referred

   Referred to Subcommittee on Telecommunications, Consumer Protection and Finance.

   Source: Committee

5. 11 June 1985

   Committee

   Subcommittee Hearings Held.

   Source: Committee

6. 20 June 1985

   Committee

   Subcommittee Hearings Held.

   Source: Committee

7. 26 June 1985

   Committee

   Subcommittee Hearings Held.

   Source: Committee

8. 25 July 1985

   Committee

   Forwarded by Subcommittee to Full Committee (Amended).

   Source: Committee

9. 25 July 1985

   Committee

   Subcommittee Consideration and Mark-up Session Held.

   Source: Committee

10. 31 July 1985

    Reported

    Ordered to be Reported (Amended).

    Source: Committee

11. 31 July 1985

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

12. 9 September 1985

    Calendars

    Placed on Union Calendar No: 161.

    Source: Calendars

13. 9 September 1985

    Reported

    Reported to House (Amended) by House Committee on Energy and Commerce. Report No: 99-258.

    Source: Committee

14. 9 September 1985

    Reported

    Reported to House (Amended) by House Committee on Energy and Commerce. Report No: 99-258.

    Source: Committee

15. 17 September 1985

    Passed

    Passed House (Amended) by Voice Vote.

    Source: Floor

16. 17 September 1985

    Passed

    Passed/agreed to in House: Passed House (Amended) by Voice Vote.

    Source: Floor

17. 17 September 1985

    Floor

    Called up by House Under Suspension of Rules.

    Source: Floor

18. 18 September 1985

    Introduced

    Received in the Senate and read twice and referred to the Committee on Banking.

    Source: IntroReferral

19. 16 September 1986

    Floor

    Senate struck all after the Enacting Clause and substituted the language of S. 1416 amended.

    Source: Floor

20. 16 September 1986

    Passed

    Passed/agreed to in Senate: Passed Senate with an amendment and an amendment to the Title by Voice Vote.

    Source: Floor

21. 16 September 1986

    Discharge

    Senate Committee on Banking discharged by Unanimous Consent.

    Source: Discharge

22. 16 September 1986

    Committee

    Senate Committee on Banking discharged by Unanimous Consent.

    Source: Committee

23. 6 October 1986

    ResolvingDifferences

    House Concurred, in Senate Amendments , with Amendments by Unanimous Consent.

    Source: ResolvingDifferences

24. 6 October 1986

    NotUsed

    Resolving differences -- House actions: House Concurred, in Senate Amendments , with Amendments by Unanimous Consent.

    Source: NotUsed

25. 7 October 1986

    Floor

    Message on House action received in Senate and held at desk: House amendments to Senate amendments.

    Source: Floor

26. 9 October 1986

    Passed

    Senate agreed to the House amendment to the Senate amendment. By Voice Vote.

    Source: ResolvingDifferences

27. 9 October 1986

    Passed

    Resolving differences -- Senate actions: Senate agreed to the House amendment to the Senate amendment. By Voice Vote.

    Source: NotUsed

28. 15 October 1986

    Floor

    Measure Signed in Senate.

    Source: Floor

29. 16 October 1986

    Floor

    Presented to President.

    Source: Floor

30. 16 October 1986

    President

    Presented to President.

    Source: President

31. 28 October 1986

    Became law

    Became Public Law No: 99-571.

    Source: President

32. 28 October 1986

    Became law

    Signed by President.

    Source: BecameLaw

33. 28 October 1986

    President

    Signed by President.

    Source: President

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

6 official files

• Public Law (PDF)

  Public Law · EN · 29 October 1986

  ViewDownloadOpen at official source

• House agreed to Senate amendment with amendment

  summary · EN · 6 October 1986

  Open at official source

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• Passed Senate amended

  summary · EN · 16 September 1986

  Open at official source

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  Vertaal document

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• Passed House amended

  summary · EN · 17 September 1985

  Open at official source

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  Vertaal document

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• Reported to House with amendment(s)

  summary · EN · 9 September 1985

  Open at official source

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  Vertaal document

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

• Introduced in House

  summary · EN · 15 April 1985

  Open at official source

  Leesvertaling

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  Vertaal document

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Sponsors

• Rep. Dingell, John D. [D-MI-12] · D · Sponsor
• Rep. Broyhill, James T. [R-NC-10] · R · Sponsor
• Sen. Wirth, Timothy [D-CO] · D · Sponsor
• Rep. Rinaldo, Matthew J. [R-NJ-7] · R · Sponsor
• Rep. Luken, Thomas A. [D-OH-1] · D · Sponsor
• Rep. Swift, Al [D-WA-2] · D · Sponsor
• Rep. Collins, Cardiss [D-IL-7] · D · Sponsor
• Rep. Bryant, John W. [D-TX-5] · D · Sponsor
• Rep. Rodino, Peter W., Jr. [D-NJ-10] · D · Sponsor
• Rep. Synar, Mike [D-OK-2] · D · Cosponsor
• Rep. Oxley, Michael G. [R-OH-4] · R · Cosponsor
• Rep. Foglietta, Thomas M. [D-PA-1] · D · Cosponsor
• Rep. Whitehurst, G. William [R-VA-2] · R · Cosponsor
• Rep. Eckart, Dennis E. [D-OH-11] · D · Cosponsor
• Rep. Leland, Mickey [D-TX-18] · D · Cosponsor
• Rep. Kaptur, Marcy [D-OH-9] · D · Cosponsor
• Rep. Kindness, Thomas N. [R-OH-8] · R · Cosponsor
• Rep. Conyers, John, Jr. [D-MI-13] · D · Cosponsor
• Rep. Murphy, Austin J. [D-PA-20] · D · Cosponsor
• Rep. Madigan, Edward R. [R-IL-15] · R · Cosponsor
• Rep. Hughes, William J. [D-NJ-2] · D · Cosponsor
• Rep. Solomon, Gerald B. H. [R-NY-22] · R · Cosponsor
• Rep. Shaw, E. Clay, Jr. [R-FL-22] · R · Cosponsor
• Rep. Sikorski, Gerry E. [D-MN-6] · D · Cosponsor
• Rep. Hall, Tony P. [D-OH-3] · D · Cosponsor
• Rep. Frank, Barney [D-MA-4] · D · Cosponsor
• Rep. Smith, Lawrence [D-FL-16] · D · Cosponsor
• Rep. Rose, Charlie [D-NC-7] · D · Cosponsor
• Rep. Frost, Martin [D-TX-24] · D · Cosponsor
• Rep. Martinez, Matthew G. [D-CA-31] · D · Cosponsor
• Rep. Morrison, Bruce A. [D-CT-3] · D · Cosponsor
• Rep. Towns, Edolphus [D-NY-10] · D · Cosponsor
• Rep. Sensenbrenner, F. James, Jr. [R-WI-5] · R · Cosponsor
• Rep. Slattery, Jim [D-KS-2] · D · Cosponsor
• Rep. Bliley, Tom [R-VA-7] · R · Cosponsor
• Rep. Bilirakis, Michael [R-FL-9] · R · Cosponsor
• Sen. Markey, Edward J. [D-MA] · D · Cosponsor
• · ssbk00 · Standing
• · hsif00 · Standing

Related records

• related to ← Public Securities Act of 1985
• related to ← Government Securities Act of 1986

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