PlainBillCongress, translated.Legislation. Context. Public interest.Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Congressional Research Service
Version 00 · Introduced in House · Apr 4, 2001
Financial Services Antifraud Network Act of 2001 - Establishes the Antifraud Subcommittee within the President's Working Group on Financial Markets to coordinate access to: (1) antifraud databases of various regulators by designated Subcommittee participants; (2) information-sharing among State, Federal, and international financial regulators and law enforcement agencies; and (3) to promote greater cross-industry efficiency, effectiveness, and coordination across all sectors of the Nation's financial markets.Amends the Investment Advisers Act of 1940 to authorize the Securities and Exchange Commission (SEC) to require that an investment adviser file required documentation through any entity designated by the SEC for that purpose. Mandates that such entity establish a toll-free telephone or readily accessible electronic process to receive and respond promptly to inquiries regarding disciplinary actions and information involving investment advisers.Amends the Securities Exchange Act of 1934 to: (1) require a registered securities association to establish a toll-free telephone or readily accessible electronic process to receive and respond promptly to inquiries regarding disciplinary actions and information involving its members; and (2) revise SEC disciplinary procedures governing municipal securities broker/dealers and government securities broker/dealers.Amends the Investment Advisers Act of 1940 to extend SEC authority to deny or revoke investment adviser registration to include denial or revocation based on State and other governmental administrative actions derived from the authority conferred upon the financial regulators designated under this Act.
People & committees
Rep. Rogers, Mike J. [R-MI-8] · R–MI
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 392 - 4 (Roll no. 427). (text: CR H7732-7741)
House roll call 427 · Individual votesPassed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 392 - 4 (Roll no. 427).(text: CR H7732-7741)
House roll call 427 · Individual votesConsidered as unfinished business. (consideration: CR H7780-7781)
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
DEBATE - The House proceeded with forty minutes of debate on H.R. 1408.
Considered under suspension of the rules. (consideration: CR H7732-7745)
Mr. Bachus moved to suspend the rules and pass the bill, as amended.
Placed on the Union Calendar, Calendar No. 144.
Reported (Amended) by the Committee on Judiciary. H. Rept. 107-192, Part II.
Reported (Amended) by the Committee on Judiciary. H. Rept. 107-192, Part II.
House Committee on Judiciary Granted an extension for further consideration ending not later than Oct. 16, 2001.
Ordered to be Reported (Amended) by Voice Vote.
Committee Consideration and Mark-up Session Held.
Subcommittee on Crime Discharged.
House Committee on Judiciary Granted an extension for further consideration ending not later than Oct. 12, 2001.
House Committee on Judiciary Granted an extension for further consideration ending not later than Oct. 5, 2001.
Committee on Agriculture discharged.
Committee on Agriculture discharged.
House Committee on Agriculture Granted an extension for further consideration ending not later than Aug. 2, 2001.
House Committee on Judiciary Granted an extension for further consideration ending not later than Sept. 14, 2001.
Reported (Amended) by the Committee on Financial Services. H. Rept. 107-192, Part I.
Reported (Amended) by the Committee on Financial Services. H. Rept. 107-192, Part I.
Ordered to be Reported (Amended) by Voice Vote.
Committee Consideration and Mark-up Session Held.
Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises Discharged.
The Subcommittee on Capitol Markets, Insurance and Government Sponsored Enterprises is granted an extension by the Chairman, ending not later than June 22 2001.
Forwarded by Subcommittee to Full Committee (Amended) by the Yeas and Nays: 20 - 1.
Subcommittee Consideration and Mark-up Session Held.
Subcommittee Consideration and Mark-up Session Held.
Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Referred to the Subcommittee on Crime.
Referred to the Subcommittee on Farm Commodities and Risk Management.
Referred to the Subcommittee on Conservation, Credit, Rural Development and Research.
Sponsor introductory remarks on measure. (CR E577)
Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.
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Analyze H.R.1408 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine H.R.1408 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine H.R.1408 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine H.R.1408 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.