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H.R. 2689

U.S. House•In House Committee

Summary

H.R. 2689, to amend the Securities Exchange Act of 1934 to transfer authorities and duties of registered national securities associations to the Securities and Exchange Commission, was introduced in the House on Apr 7, 2025 by Rep. Lisa McClain (R). It was referred to Financial Services, and last saw action on Apr 7, 2025: Referred to the House Committee on Financial Services.

Record

Text

H.R. 2689 has no co-sponsors and has not gone to a roll call.

hb2689/introduced-in-house.txt
119 HR 2689 IH: To amend the Securities Exchange Act of 1934 to transfer authorities and duties of registered national securities associations to the Securities and Exchange Commission.
 U.S. House of Representatives
 2025-04-07
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 I  119th CONGRESS  1st Session  H. R. 2689  IN THE HOUSE OF REPRESENTATIVES   April 7, 2025   Mrs. McClain  introduced the following bill; which was referred to the  Committee on Financial Services    A BILL
To amend the Securities Exchange Act of 1934 to transfer authorities and duties of registered national securities associations to the Securities and Exchange Commission.
1.
Transfer of authorities and duties of registered national securities associations to the Commission
(a)
In general
The Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq. ) is amended by inserting after section 15G the following:
15H.
Transfer of authorities and duties of registered national securities associations to the Commission
(a)
In general
All authorities and duties provided to a national securities association (including a registered national securities association) under the securities laws shall, on the effective date of this section, be transferred to the Commission.
(b)
Deeming
Any reference in a law, regulation, document, paper, or other record of the United States to a national securities association (including a registered national securities association) shall be deemed a reference to the Commission.
 .
(b)
Rulemaking
Notwithstanding subsection (c), the Securities and Exchange Commission shall issue rules to carry out section 15H of the Securities Exchange Act of 1934, as amended by subsection (a), before the effective date described in subsection (c).
(c)
Effective date
The amendments made by this section shall take effect on the date that is 2 years after the date of enactment of this Act.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-04-07
  2. Passed House
  3. Passed Senate
  4. Conference
  5. To President
  6. Became Law

To amend the Securities Exchange Act of 1934 to transfer authorities and duties of registered national securities associations to the Securities and Exchange Commission.

Sponsors

Rep. Lisa McClain (R) sponsors H.R. 2689 alone.

Lisa McClain

Rep. · R–MI-9 · Sponsor

Committees

H.R. 2689 went before 1 committee: Financial Services.

Financial Services
Financial Services
Referred To · Apr 7, 2025 · 559 Bills

Actions

H.R. 2689 has taken 2 actions since Apr 7, 2025.

ChamberAction
Apr 7, 2025
House
Introduced in House
Apr 7, 2025
House
Referred to the House Committee on Financial Services.Financial Services Committee

Votes

H.R. 2689 has not gone to a roll call.

Titles

H.R. 2689 goes by 2 titles.

  • To amend the Securities Exchange Act of 1934 to transfer authorities and duties of registered national securities associations to the Securities and Exchange Commission. — Official Title as Introduced
  • To amend the Securities Exchange Act of 1934 to transfer authorities and duties of registered national securities associations to the Securities and Exchange Commission. — Display Title

Lobbying

2 clients hired 2 firms and 7 registered lobbyists who named H.R. 2689 in 9 quarterly filings, 2025 to 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Financial Institutions/Investments/Securities, Labor Issues/Antitrust/Workplace, Retirement, Taxation/Internal Revenue Code.

Clients

Who paid to be heard, by how many filings named the bill.

ClientBusinessStateFirmsFilingsReported
FINANCIAL INDUSTRY REGULATORY AUTHORITY—District of Columbia17—
AMERIPRISE FINANCIAL, INC.—District of Columbia12—

Firms

Registrants who filed on the bill, by filings.

RegistrantClientsFilingsReported
FINANCIAL INDUSTRY REGULATORY AUTHORITY17—
AMERIPRISE FINANCIAL, INC.12—

Lobbyists

Named on the filings that cite the bill.

LobbyistFirmsClientsFilings
CORY CLAUSSEN117
MATTHEW SILVER117
SUSAN COLLET117
GREGORY DEAN115
ELIZABETH VARLEY112
STEPHEN CHANG112
CHRISTOPHER ROSELLO111

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

ClientRegistrantPeriodReportedDocument
AMERIPRISE FINANCIAL, INC.AMERIPRISE FINANCIAL, INC.2026 first_quarter$520K1st Quarter - Report
AMERIPRISE FINANCIAL, INC.AMERIPRISE FINANCIAL, INC.2026 second_quarter$280K2nd Quarter - Report
FINANCIAL INDUSTRY REGULATORY AUTHORITYFINANCIAL INDUSTRY REGULATORY AUTHORITY2025 second_quarter$240K2nd Quarter - Amendme…
FINANCIAL INDUSTRY REGULATORY AUTHORITYFINANCIAL INDUSTRY REGULATORY AUTHORITY2026 second_quarter$220K2nd Quarter - Report
FINANCIAL INDUSTRY REGULATORY AUTHORITYFINANCIAL INDUSTRY REGULATORY AUTHORITY2026 first_quarter$220K1st Quarter - Report
FINANCIAL INDUSTRY REGULATORY AUTHORITYFINANCIAL INDUSTRY REGULATORY AUTHORITY2025 fourth_quarter$220K4th Quarter - Report
FINANCIAL INDUSTRY REGULATORY AUTHORITYFINANCIAL INDUSTRY REGULATORY AUTHORITY2025 third_quarter$220K3rd Quarter - Amendme…
FINANCIAL INDUSTRY REGULATORY AUTHORITYFINANCIAL INDUSTRY REGULATORY AUTHORITY2025 second_quarter$220K2nd Quarter - Report
FINANCIAL INDUSTRY REGULATORY AUTHORITYFINANCIAL INDUSTRY REGULATORY AUTHORITY2025 third_quarter$190K3rd Quarter - Report

Classification

The Congressional Research Service files H.R. 2689 under Finance and Financial Sector, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 2689’s is Finance and Financial Sector.

hr2689/policy-areas.txt
Finance and Financial SectorAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTaxationTransportation and Public WorksWater Resources Development

Source: congress.gov · legiscan.com