Bars states from prohibiting, limiting, or placing conditions on off-exchange secondary trading in securities of companies that make current information publicly available.

Official title: Restoring the Secondary Trading Market Act

Next stop House floor: awaiting a vote

Timeline each lane is a chamber; dates pull from congress.gov actions

House

Introduced 16-JAN-2026

Referred 16-JAN-2026

Approved by committee 04-MAR-2026

Reported 25-MAR-2026

On the calendar 25-MAR-2026

Key points

Adds a new paragraph (4) to Section 18(a) of the Securities Act of 1933 that preempts state rules on off-exchange secondary trading.
Covers securities of issuers that publicly file the periodic and current reports described in SEC rule 230.257 or the documents specified in SEC rule 15c2-11.
Directs the Securities and Exchange Commission to define off-exchange secondary trading.
Makes conforming edits to paragraphs (2) and (3) of Section 18(a) to fit the new paragraph.

AI-generated from the Reported in House text of 25-MAR-2026 · verify · report an error

Official CRS summary

Current. The Congressional Research Service's summary covers the bill's latest wording (Reported to House, 25-MAR-2026).

CRS is the Library of Congress's nonpartisan research office. Read it on congress.gov

Committee referrals (1)

Policy area

Finance and Financial Sector

Sponsor Daniel Meuser (R-PA) Cosponsors · 0

No cosponsors.

congress.gov page Reported in House (25-MAR-2026) Introduced in House (16-JAN-2026)