H.R. 3973: Market Data Protection Act of 2017
CBO Score
$1 million
Documentation
Date of Report
Wed November 8th, 2017
CBO Report Details
Legislation Details
115th Congress
To amend the Securities Exchange Act of 1934 to require certain entities to develop internal risk control mechanisms to safeguard and govern the storage of market data.
Sponsor: Rep. Warren Davidson — R — OH
This bill amends the Securities Exchange Act of 1934 to require the Securities and Exchange Commission, the Financial Industry Regulatory Authority, and the operator of the consolidated audit trail (a database that tracks trading in equities and options markets) to develop internal risk control mechanisms to protect stored market data. The operator of the consolidated audit trail may not accept market data until these mechanisms are developed.
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