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 36 · Passed House amended · Jul 12, 2016
National Securities Exchange Regulatory Parity Act of 2016
(Sec. 2) This bill amends the Securities Act of 1933, regarding the exemption of certain securities from state regulation, to replace limitations based upon listing on specific stock exchanges with a general exemption from state regulation of any securities listed on a national exchange whose listing standards are approved by the Securities and Exchange Commission (SEC), consistent with SEC rules that establish minimum core quantitative listing standards.
People & committees
Rep. Royce, Edward R. [R-CA-39] · R–CA
Legislative record
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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 voice vote. (text: CR H4684-4685)
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H4684-4685)
DEBATE - The House proceeded with forty minutes of debate on H.R. 5421.
Considered under suspension of the rules. (consideration: CR H4684-4686)
Mr. Royce moved to suspend the rules and pass the bill, as amended.
Placed on the Union Calendar, Calendar No. 530.
Reported by the Committee on Financial Services. H. Rept. 114-684.
Reported by the Committee on Financial Services. H. Rept. 114-684.
Ordered to be Reported by the Yeas and Nays: 47 - 12.
Committee Consideration and Mark-up Session Held.
Committee Consideration and Mark-up Session Held.
Referred to the House Committee on Financial Services.
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.5421 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.5421 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.5421 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.5421 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.