CONGRESSWOMAN ELISE STEFANIK
The House is expected to consider H.R. 2623 on the House floor on Wednesday, July 29, 2009, under a motion to suspend the rules, requiring a two-thirds majority vote for passage. This legislation was introduced by Rep. Kevin McCarthy (R-CA) on May 21, 2009.
H.R. 2623 amends the Securities Exchange Act of 1934 to authorize the Securities and Exchange Commission (SEC) to censure, place limitations on the activities or functions of, or investigate any person who at the time of specified alleged misconduct was: (1) a member or employee of the Municipal Securities Rulemaking Board; (2) a person associated or seeking to become associated with a government securities broker or dealer; (3) a person associated with a member of a national securities exchange or registered securities association; (4) a participant of a registered clearing agency; (5) an officer or director of a self-regulatory organization; and (6) an officer or director of an investment company.
A CBO cost estimate of H.R. 2623 is not yet available.