PlainBillCongress, translated.Legislation. Context. Public interest.Congressional Research Service
Version 00 · Introduced in Senate · Jan 22, 2001
Competitive Market Supervision Act of 2001 - Amends the Securities Act of 1933 to: (1) eliminate the general revenue fees on securities for the cost of the securities registration process; (2) set a uniform and higher rate for the offsetting collection fee schedule for FY 2002 through 2006; and (3) set a permanent rate for FY 2007 and thereafter (currently such rates phase out after FY 2006).Amends the Securities Exchange Act of 1934 to revise the filing fees related to the purchase of securities by issuers and to preliminary proxy solicitations to reflect such modified offsetting collection fee schedule.Mandates that fees collected during any fiscal year be deposited and credited as offsetting collections.Replaces the statutory transaction fee formula governing a national securities exchange or national securities association with a transaction offsetting collection rate which is the uniform rate required to reach a specified transaction fee cap for the fiscal year.Prescribes guidelines for fee rate adjustments, including: (1) estimates of collections; (2) a floor for total fee collections; and (3) a cap on total fee collections.Instructs the Securities and Exchange Commission (SEC) to explain to certain congressional committees the methodology used to make its collections estimates.Shields SEC determinations and actions from judicial review.Requires the SEC to notify each national securities exchange or national securities association prior to taking action with respect to either a total fee collection floor or a total fee collection cap.Revises guidelines governing SEC employee appointment and compensation to conform with guidelines covering Federal agency employees under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.
People & committees
Sen. Gramm, Phil [R-TX] · R–TX
Legislative record
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Held at the desk.
Received in the House.
Message on Senate action sent to the House.
Passed Senate with an amendment by Unanimous Consent. (text: CR S2789-2792)
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(text: CR S2789-2792)
The committee substitute as amended agreed to by Unanimous Consent.
Measure laid before Senate by unanimous consent. (consideration: CR S2785-2792)
Placed on Senate Legislative Calendar under General Orders. Calendar No. 20.
Committee on Banking, Housing, and Urban Affairs. Reported by Senator Gramm with an amendment in the nature of a substitute. With written report No. 107-3. (text of measure as reported in Senate: CR 3/22/2001 S2785-2788)
Committee on Banking, Housing, and Urban Affairs. Reported by Senator Gramm with an amendment in the nature of a substitute. With written report No. 107-3.(text of measure as reported in Senate: CR 3/22/2001 S2785-2788)
Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 107-266.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S416-418)
Sponsor introductory remarks on measure. (CR S415-416, S418-419)
Introduced in Senate
Primary sources
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Source last updated: Mar 9, 2026. Consult Congress.gov for the current record.
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