Securities & Investment

Brokers, exchanges, investment companies, advisers, and funds. Registration, disclosure, market-structure rules, and the tax treatment of financial products set the terms of trade.

Measures whose provisions reach this industry directly, verified against the bill text. Measures written for this industry lead the list, then measures that plainly change how it operates; within each, the likeliest to become law come first. Measures that have become law or failed are removed. Measures written to all of Finance & Insurance are included and marked Sector-wide.

Measures that reach Securities & Investment directly

HR 10353 US House Last action
September 16, 2026 BurdenLong shot

SBIC Reporting Modernization Act of 2026

Brad Finstad (Republican) · Sponsor of record · Official record ↗

What it does: The bill would require the Small Business Administration to publish, starting 90 days after enactment and every quarter after that, a report on licensed small business investment companies covering performance information, licensing approvals, the dollar value of debentures issued, and jobs created or sustained by their investments. This bill requires the SBA to publish quarterly reports on licensed small business investment companies, covering their licensing outcomes, debenture issuance, and jobs created, giving these venture funds public performance scrutiny and giving prospective licensees and investors up-to-date program data.
Where it stands: The House Committee on Small Business took the bill up at a markup on September 16, 2026 and ordered it reported by a vote of 23 to 0, and the written report was filed on October 9, 2026, when the bill was placed on the Union Calendar as Calendar No. 742. Under House practice, that calendar placement makes the bill eligible for floor action but schedules nothing; the calendars are lists of eligible measures, and the majority leadership decides what comes to the floor and when.

S 4690 US Senate Last action
June 4, 2026 MixedLong shot

Encouraging Public Offerings Act of 2026

Ted Budd (Republican) · Sponsor of record · Official record ↗

What it does: The bill would amend the Securities Act of 1933 to let all issuers, not just emerging growth companies, test the waters with investors before a public offering and confidentially submit draft registration statements to the SEC for nonpublic review before an initial public offering and for one year afterward. It would require those confidential drafts and amendments to be publicly filed no later than 15 days before a road show or the requested effective date, and would let the SEC impose extra conditions on non-emerging-growth issuers using these processes after a report to Congress. This bill lets any company going public, not just emerging growth companies, confidentially submit draft registration statements to the SEC and communicate with investors before filing, while allowing the SEC to impose conditions on these non-emerging growth issuers.
Where it stands: S4690 was read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs on June 4, 2026, and no further action is dated since; with the action trail ending at referral and no hearing or markup notice scheduled, the bill sits in the Senate's quiet-death posture, where committees need not act on referred bills.

S 3831 US Senate Last action
February 11, 2026 BurdenLong shot

Enhancing Multi-Class Share Disclosures Act

Ruben Gallego (Democrat) · Sponsor of record · Official record ↗

What it does: This legislation would require the Securities and Exchange Commission to create rules mandating that companies with multiple classes of stock disclose specific voting power details for executives and large shareholders in proxy materials. The required disclosures would include the percentage of shares and the percentage of total voting power held by directors, nominees, executives, and owners of at least five percent of the voting securities. This bill requires publicly traded companies with multi-class share structures to disclose in proxy materials the percentage of shares and voting power held by directors, executives, and large owners, raising disclosure burdens while giving investors clearer voting-control information.
Where it stands: S3831 was read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs on February 11, 2026, with no hearing or markup scheduled. The companion measure HR3357 passed the House and was referred to the same Senate committee in July 2025 but remains unenacted.

S 3749 US Senate Last action
January 29, 2026 BenefitLong shot

Expanding WKSI Eligibility Act

David McCormick (Republican) · Sponsor of record · Official record ↗

What it does: This bill lowers the market value threshold for an issuer to qualify as a well-known seasoned issuer to $400 million. It also requires the Securities and Exchange Commission to publish annual data on applications for this status that were withdrawn after submission. This bill lets publicly traded companies with market values of $400 million or more qualify as well-known seasoned issuers, giving mid-sized brokers and advisers' issuer clients faster streamlined securities registration, while smaller issuers face more competition for investors.
Where it stands: S. 3749 was read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs on January 29, 2026. The bill is currently stalled in committee with no upcoming meetings scheduled.

S 3351 US Senate Last action
December 4, 2025 BenefitLong shot

Developing and Empowering our Aspiring Leaders Act of 2025

Mike Rounds (Republican) · Sponsor of record · Official record ↗

What it does: This act requires the Securities and Exchange Commission to update regulations to allow venture capital fund advisers to count secondary market equity purchases and investments in other venture capital funds as qualifying investments for their registration exemption. It also imposes a new cap limiting these funds to holding no more than 49 percent of their capital in other venture capital funds or secondary acquisitions. This bill lets venture capital fund advisers keep their exemption from SEC registration by counting secondary market stock purchases and investments in other venture capital funds as qualifying investments, while capping such holdings at 49 percent of capital.
Where it stands: S. 3351 was read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs on December 4, 2025. The bill remains in committee, where the chair controls whether a hearing or markup is scheduled.

S 2840 US Senate Last action
September 17, 2025 BurdenLong shot

Financial Exploitation Prevention Act of 2025

Bill Hagerty (Republican) · Sponsor of record · Official record ↗

What it does: This bill allows mutual funds and their transfer agents to voluntarily delay cashing out shares for up to 15 business days, with a 10-day extension possible, if they suspect a specified adult is being financially exploited. To use this power, the fund must have previously obtained the name of a trusted contact for the account and must notify that person when delaying a transaction. This bill lets mutual funds and their transfer agents delay suspicious redemptions for up to 25 business days to protect vulnerable investors, but requires them to collect trusted contact information, set procedures, disclose the policy in prospectuses, and keep records.
Where it stands: S2840 is stalled in the Senate Committee on Banking, Housing, and Urban Affairs following its referral on September 17, 2025. No hearings or markups are scheduled, and the companion measure HR2478 awaits similar committee consideration after reaching the Senate on July 13, 2026.

HR 8286 US House Last action
June 24, 2026 MixedLong shot

Protecting Americans’ Retirement Savings From Politics Act

Bryan Steil (Republican) · Sponsor of record · Official record ↗

What it does: The bill limits public company disclosure obligations to information the company deems material to voting or investment decisions and establishes a new registration and compliance regime for proxy advisory firms. It also restricts investment advisers from considering non-financial factors in advice without client consent and mandates specific proxy voting procedures for passively managed funds. This bill directly regulates investment advisers, brokers, dealers, and passively managed funds by requiring advice and proxy voting to rely on financial factors, mandating proxy voting procedures, and granting advisers liability protection, while registering and burdening proxy advisory firms and very large institutional managers.
Where it stands: The House Committee on Financial Services reported the measure on June 24, 2026, following its markup on April 21, 2026, and placed it on the Union Calendar as Calendar No. 618. This placement establishes eligibility for floor consideration but does not schedule a vote or guarantee action by the chamber.

HR 3633 US House Last action
September 15, 2026 MixedLong shot

Digital Asset Market Clarity Act

J. French Hill (Republican) · Sponsor of record · Official record ↗

What it does: This proposal would set up a comprehensive regulatory framework for digital assets, mainly by exempting many digital commodities from securities laws, letting the Commodity Futures Trading Commission register and oversee digital commodity exchanges, brokers, dealers, and custodians, and amending securities rules to exclude certain digital commodities and stablecoins from securities definitions. It would also let national banks hold digital assets and use blockchain systems without extra capital charges, create a securities registration exemption for primary sales of up to $50 million, ban a US central bank digital currency, and direct studies on decentralized finance, foreign adversaries, and other digital asset topics. This bill requires brokers, dealers, exchanges, and custodians in the digital asset market to register with the Commodity Futures Trading Commission and meet capital, reporting, anti-money laundering, and customer protection rules, while exempting digital commodities from securities laws and letting registered firms and exchanges obtain dual registration.
Where it stands: The House passed the bill on July 17, 2025, and it is now pending in the Senate, where the Senate Committee on Banking, Housing, and Urban Affairs marked it up on May 14, 2026, reported it on June 1, 2026, and the bill was placed on the Senate Legislative Calendar under General Orders (Calendar No. 423) that day. The latest action, on September 15, 2026, was a motion by Senator Tillis to reconsider the vote by which cloture on the motion to proceed to the measure was not invoked.

HR 9329 US House Last action
September 3, 2026 BenefitLong shot

SEC Reform and Restructuring Act

Sector-wide

Ann Wagner (Republican) · Sponsor of record · Official record ↗

What it does: The bill would force the Securities and Exchange Commission to weigh costs and benefits, including effects on small businesses and market liquidity, before proposing or issuing rules, publish post-adoption reviews of major rules, give the public at least 60 days to comment on proposed rules (30 days for imminent investor harm), testify to Congress twice a year, and count related compliance failures as a single violation when calculating penalties. It would also fold the Public Company Accounting Oversight Board into a new Office of Public Accounting Oversight inside the SEC two years after enactment, require government watchdog audits and studies of the SEC's IT systems and major rules, and direct the SEC Chairman to shrink the number of offices reporting directly to the chair.
Where it stands: The House Committee on Financial Services held a hearing on June 25, 2026, ordered the bill reported at its markup on June 30, 2026, and the written report was filed on September 3, 2026, the same day the bill was placed on the Union Calendar as Calendar No. 694. Calendar placement conveys eligibility only; it does not schedule any floor action.

S 3578 US Senate Last action
December 18, 2025 BenefitLong shot

Financial Stability Oversight Council Improvement Act of 2025

Sector-wide

Mike Rounds (Republican) · Sponsor of record · Official record ↗

What it does: The bill requires the Financial Stability Oversight Council to determine that alternative regulatory actions are impracticable or insufficient before voting to subject a nonbank financial company to Federal Reserve supervision. It mandates that the Council consult with the company and its primary regulator to consider less burdensome measures before proceeding with this specific designation.
Where it stands: S3578 was read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs on December 18, 2025. The measure is currently stalled in committee with no scheduled hearings or markups listed in the calendar data.

HR 7187 US House Last action
September 1, 2026 MixedLong shot

Clarity for Compensation Act

Zachary Nunn (Republican) · Sponsor of record · Official record ↗

What it does: The proposed act would allow a personal services entity owned by a registered representative to receive compensation from the representative's broker without being classified as a broker, provided strict supervision and record-keeping rules are met. This exemption takes effect 180 days after the bill is signed into law. This bill lets securities brokers pay registered representatives through their personal services entities without registering those entities as brokers, while requiring the broker to supervise, approve payments, and keep records, and leaving representatives fully liable.
Where it stands: The Clarity for Compensation Act was reported by the House Committee on Financial Services on September 1, 2026, following a markup on June 30, 2026. It is placed on the Union Calendar, Calendar No. 691, which signifies eligibility for floor consideration but does not schedule a specific vote.

HR 10702 US House Last action
October 1, 2026 BurdenLong shot

Workers’ Retirement Savings Protection Act of 2026

Robert C. "Bobby" Scott (Democrat) · Sponsor of record · Official record ↗

What it does: The bill would treat anyone paid to give individualized retirement investment advice, including advice to roll over 401(k)-style account assets into another account or investment, as a fiduciary under federal pension law, with the definition covering a broad list of compensation such as commissions, revenue sharing, and gifts, and covering individual retirement accounts as well as employer plans. It would also wipe out an existing federal regulation on retirement investment advice, leaving the new statutory standard in its place. This bill makes any investment adviser, broker-dealer, or other paid advisor who gives individualized retirement advice or rollover recommendations, including to IRA and 401(k) holders, a fiduciary under federal pension law, sweeping commissions and shelf-space payments into that duty.
Where it stands: HR10702 was referred to the House Committee on Education and Workforce on October 1, 2026, placing it at the start of the committee stage, and no committee meetings are currently scheduled for it in the calendar data.

HR 10595 US House Last action
September 24, 2026 BurdenLong shot

Stop Wall Street Looting Act

Mark Pocan (Democrat) · Sponsor of record · Official record ↗

What it does: This proposal, called the Stop Wall Street Looting Act, would make private equity funds and their investors jointly and severally liable for the debts, pension obligations, and other liabilities of the companies they acquire, while barring those companies for four years from large dividends, buybacks, or offshore relocations and imposing a new surtax on payments from controlled companies to the firms that own them, along with limits on business interest deductions. It would also strengthen protections for workers and consumers in bankruptcy by raising the priority cap for wages to $20,000 and for consumer deposits to $1,800, protecting striking workers from permanent replacement, requiring courts to favor buyers who preserve jobs, taxing carried interest as ordinary income, requiring private fund advisers to publicly disclose fees, returns, debt, and political spending, and removing the deadline for bankrupt companies to decide on commercial leases. This bill directly burdens private equity funds, their advisers, and fund managers by imposing joint liability for portfolio company debts and pensions, surtaxes and ordinary-income taxation of carried interest, new disclosure and quarterly SEC reporting duties, and limits on indemnification and preferential terms for limited partners.
Where it stands: On September 24, 2026 the bill was referred to the House Committee on Ways and Means and in addition to the Committees on Financial Services, the Judiciary, and Education and Workforce, for a period to be subsequently determined by the Speaker. It sits with four committees at the earliest stage of House consideration, with no hearing or markup yet noticed in our calendar data.

HR 10553 US House Last action
September 24, 2026 BenefitLong shot

Margin Eligibility Modernization Act

Andrew R. Garbarino (Republican) · Sponsor of record · Official record ↗

What it does: The bill would require the Federal Reserve Board, within 90 days of enactment, to issue a rule expanding the definition of OTC margin stock under Regulation T so that over-the-counter equity securities with a ready market qualify for margin lending, and if the Board fails to act, that broader definition would take effect automatically until a rule is issued. It would also require the Federal Reserve to report to Congress five years after the rule assesses the credit extended under it and any risks to the financial system. This bill expands the list of OTC margin stock so broker-dealers can lend against over-the-counter equity securities with a ready market, giving brokers a new margin lending business and OTC issuers a more liquid market.
Where it stands: The bill was referred to the House Committee on Financial Services on September 24, 2026 and now sits at the start of the committee stage, the usual quiet-death point for House bills. Nothing further has happened: no hearing or markup is scheduled in the available calendar data.

S 5512 US Senate Last action
September 24, 2026 BurdenLong shot

Stop Wall Street Looting Act

Elizabeth Warren (Democrat) · Sponsor of record · Official record ↗

What it does: The bill would make private investment funds and their active investors financially responsible for the debts, legal penalties, pension withdrawal liabilities, and other obligations of the companies they acquire and control, while restricting asset stripping by limiting bankruptcy defenses, imposing a surtax on certain payments to fund owners, limiting interest deductions, and barring acquired firms from large dividends, buybacks, or moving operations abroad for four years. It would also tilt bankruptcy rules toward workers and consumers by strengthening striking workers' protections, doubling the wage claim priority, adding priorities for severance, benefit contributions, and unredeemed gift cards, restricting executive bonuses and retention pay, taxing investment fund partnership income as ordinary income, and requiring private funds to publicly disclose fees, returns, debts, and political spending. This bill directly burdens private investment funds, their managers, and advisers with joint liability for acquired companies' debts, new surtaxes, ordinary-income tax on carried interest, public disclosure of fees and returns, and quarterly reporting to regulators.
Where it stands: S5512, the Stop Wall Street Looting Act, was read twice and referred to the Senate Committee on Finance on September 24, 2026. It now sits at committee, the first listed choke point in the Senate, where most bills never get a markup.

S 5454 US Senate Last action
September 22, 2026 BenefitLong shot

Small Business Audit Correction Act of 2026

Tom Cotton (Republican) · Sponsor of record · Official record ↗

What it does: The bill would exempt privately held, non-carrying broker-dealers that meet its good-standing criteria from the audit requirements the Sarbanes-Oxley Act applies to registered public accounting firms, so those broker-dealers could satisfy their annual audit obligation with a standard audit under generally accepted auditing standards. It would direct the SEC and the accounting oversight board to update their rules to carry out that exclusion within 180 days after the bill takes effect, which itself is 180 days after enactment, while keeping requirements that the auditor be qualified and independent and that an exemption report still be filed. This bill exempts small, privately held broker-dealers that do not hold customer funds and are in good standing from Sarbanes-Oxley audit rules, letting them use cheaper audits under generally accepted auditing standards instead.
Where it stands: S5454 was read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs on September 22, 2026, and it now sits at the committee stage, the chamber's most common kill point. Its companion, HR10477, has not been reported and has not passed a chamber; it was referred to the House Committee on Financial Services on September 17, 2026.

HR 10477 US House Last action
September 17, 2026 BenefitLong shot

Small Business Audit Correction Act of 2026

J. French Hill (Republican) · Sponsor of record · Official record ↗

What it does: The bill would amend the Sarbanes-Oxley Act to exclude audits of privately held, non-carrying brokers and dealers that are in good standing from the auditor oversight requirements of that law, and would instead let those firms satisfy their annual audit obligation through an audit conducted under generally accepted auditing standards. It would require the Securities and Exchange Commission and the accounting oversight board to update their rules to carry out the exemption within 180 days after the exemption takes effect, with the exemption itself taking effect 180 days after enactment. This bill lets privately held, non-carrying brokers and dealers in good standing skip PCAOB-registered audits and instead meet their annual audit requirement through a GAAS audit, lowering audit costs and opening the work to unregistered accounting firms.
Where it stands: The Small Business Audit Correction Act of 2026 (H.R. 10477) was referred to the House Committee on Financial Services on September 17, 2026 and sits at the very start of the committee stage, with no hearing or markup yet noticed. Under House practice, the committee chair decides whether either ever happens, so the bill's fate at this stage rests with that office.

HR 10350 US House Last action
September 10, 2026 BurdenLong shot

Protecting Elders from Wire Fraud Act

George Whitesides (Democrat) · Sponsor of record · Official record ↗

What it does: The bill would require banks, brokerages, and insurance firms to report suspected financial exploitation of senior citizens to the appropriate agency within 5 days of suspecting it, and to place a hold on any questioned transaction for up to 30 business days, extendable for two more 30-day periods, while notifying an account's trusted contact within 1 day. It would also require these institutions to turn over requested records within 2 business days, allow staff to share information with people close to the senior, and protect the institutions from liability for good-faith refusals, delays, or disclosures, all taking effect 180 days after enactment. This bill requires broker-dealer personnel and investment adviser representatives who suspect a senior citizen is being financially exploited to report that suspicion to a covered agency within five days.
Where it stands: HR10350 was referred to the House Committee on Financial Services on September 10, 2026 and sits at committee stage, where the chair controls whether the bill ever receives a hearing or a markup and where a bill can die quietly with no noticed action.

HR 10109 US House Last action
August 17, 2026 BurdenLong shot

Wildfire Event Contract Prohibition Act

Michael Baumgartner (Republican) · Sponsor of record · Official record ↗

What it does: This proposal would prohibit registered entities from listing, clearing, or trading contracts based on wildfire events, such as ignition, spread, or property damage. It also directs the Attorney General to review existing federal authorities for prosecuting individuals who manipulate or profit from wildfire-related wagers and to submit a report with legislative recommendations. This bill bars registered exchanges and clearing platforms from listing, clearing, or trading any contracts tied to wildfire events, taking away the ability of futures and prediction market operators to offer these products.
Where it stands: HR10109 is in the committee stage, referred on August 17, 2026, to the House Committee on Agriculture and the House Committee on the Judiciary. Both committee chairs serve as gatekeepers for their respective jurisdictions under this multiple referral.

S 5320 US Senate Last action
August 6, 2026 MixedLong shot

Insider Trading Prohibition Act

Jack Reed (Democrat) · Sponsor of record · Official record ↗

What it does: This proposal would make it unlawful for anyone to trade securities or security-based swaps while aware of material, nonpublic information obtained wrongfully or in breach of duty. It also prohibits the wrongful communication of such information if the recipient uses it to trade, while maintaining exemptions for transactions that comply with existing Rule 10b5-1 plans. This bill makes it unlawful for brokers, exchanges, investment advisers, and funds to trade or swap securities while aware of wrongfully obtained material nonpublic information, while letting firms rely on Rule 10b5-1 plan trades as an exemption.
Where it stands: S5320 was read twice and referred to the Committee on Banking, Housing, and Urban Affairs on August 6, 2026. No future meetings are currently scheduled for the committee.

S 5358 US Senate Last action
August 6, 2026 BurdenLong shot

FAIRR Act

Mark R. Warner (Democrat) · Sponsor of record · Official record ↗

What it does: The bill would require the Financial Stability Oversight Council to assess artificial intelligence risks to the financial system and submit a report with recommendations to Congress. It would also mandate that the Securities and Exchange Commission establish rules requiring financial firms to implement specific governance and compliance controls for their use of artificial intelligence. This bill requires brokers, dealers, issuers, exchanges, and other covered financial firms to follow SEC rules imposing specific AI governance, compliance, and reporting controls, and brings their third-party service providers under federal examination, adding compliance costs.
Where it stands: The FAIRR Act was read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs on August 6, 2026, and is currently pending in that committee.

S 5204 US Senate Last action
July 30, 2026 BenefitLong shot

SMART Savings Act of 2026

Sector-wide

John Barrasso (Republican) · Sponsor of record · Official record ↗

What it does: This act exempts individual retirement accounts from certain federal prohibited transaction rules to allow financial institutions to offer reduced-cost products or services based on account balances. It retains existing bans on self-dealing while permitting banks and investment firms to provide relationship benefits to retirement account holders without violating federal tax law.
Where it stands: The SMART Savings Act of 2026 was read twice and referred to the Senate Committee on Finance on July 30, 2026. No upcoming meetings are scheduled in the available calendar data.

S 5140 US Senate Last action
July 27, 2026 BenefitLong shot

Digital Equities and No Automatic Disqualifications Act

James C. Justice (Republican) · Sponsor of record · Official record ↗

What it does: This bill would prohibit the automatic disqualification of financial firms from registrations or privileges under federal securities and commodities laws upon the occurrence of specified events. Instead, it requires the Commodity Futures Trading Commission and the Securities and Exchange Commission to create joint rules establishing a case-by-case process where regulators must determine if applying a disqualification is necessary and appropriate for investor protection. This bill benefits brokers, exchanges, investment companies, and advisers by ending automatic disqualification from securities and commodities registrations and privileges, instead requiring regulators to decide case by case whether disqualification is needed for investor protection.
Where it stands: S5140 was read twice and referred to the Committee on Banking, Housing, and Urban Affairs on July 27, 2026. The measure is currently in committee, which is the ordinary route for consideration, though committee action is not an absolute prerequisite for further movement.

HR 9875 US House Last action
July 22, 2026 BurdenLong shot

Protecting Childcare from Private Equity Act

Josh Riley (Democrat) · Sponsor of record · Official record ↗

What it does: This proposal would require large private funds that operate more than 25 childcare locations to report ownership data to the Securities and Exchange Commission and prohibit them from selling their stake or extracting capital from newly acquired childcare entities for four years. It also mandates a government study on how private equity ownership affects childcare quality, costs, and wages. This bill requires private equity funds and other private investment funds that own more than 25 childcare locations to report ownership information to the SEC and bars them for four years from selling stakes or receiving dividends, distributions, or buybacks from newly acquired childcare entities.
Where it stands: HR9875 was referred on July 22, 2026, to the House Committee on Financial Services and the House Committee on Education and Workforce, with no meetings currently scheduled.

HR 9856 US House Last action
July 22, 2026 BurdenLong shot

Prediction Markets Are Gambling Act

Steven Horsford (Democrat) · Sponsor of record · Official record ↗

What it does: The bill prohibits registered commodity exchanges from listing, clearing, or trading event contracts related to sporting events or casino-style games. This ban applies to all such contracts entered into on or after the date the act is signed into law. This bill directly burdens registered commodity exchanges by prohibiting them from listing, clearing, or trading event contracts on sporting events or casino-style games, and it bars brokers and traders in the industry from accessing these instruments.
Where it stands: HR9856 was referred to the House Committee on Agriculture on July 22, 2026, placing it in the committee stage where the chair controls whether any hearings or markups occur. No future meetings are currently scheduled for this measure.

HR 4431 US House Last action
December 2, 2025 BenefitLong shot

Improving Capital Allocation for Newcomers Act of 2025

William R. Timmons IV (Republican) · Sponsor of record · Official record ↗

What it does: This bill raises the investor limit for qualifying venture capital funds from 250 to 500 persons and increases the asset threshold from $10 million to $50 million. It also requires a study starting five years after enactment to evaluate the changes' impact on startup funding diversity and geographic distribution. This bill lets venture capital fund managers raise funds with up to 500 investors and $50 million in assets while staying exempt from stricter registration rules, and funds a study on how this affects startup funding.
Where it stands: The bill passed the House on December 1, 2025, and was received in the Senate on December 2, 2025, where it is currently referred to the Committee on Banking, Housing, and Urban Affairs. This crossover status means the Senate must now pass identical text before the measure can proceed to the President.

HR 4429 US House Last action
December 2, 2025 MixedLong shot

Developing and Empowering our Aspiring Leaders Act of 2025

Ann Wagner (Republican) · Sponsor of record · Official record ↗

What it does: The bill directs the Securities and Exchange Commission to expand the definition of qualifying investments for venture capital fund advisers to include direct or secondary equity acquisitions and investments in other venture capital funds. It also imposes a new limit requiring venture capital funds to hold no more than 49 percent of their capital in other funds or secondary acquisitions to maintain their exempt status. This bill expands the qualifying investments that venture capital fund advisers can make to include secondary equity acquisitions and stakes in other venture capital funds, but requires funds to keep no more than 49 percent of their capital in such holdings to retain their exemption.
Where it stands: The bill passed the House on December 1, 2025, and was received in the Senate on December 2, 2025, where it is referred to the Committee on Banking, Housing, and Urban Affairs.

HR 6417 US House Last action
December 3, 2025 BenefitLong shot

Emergency Savings Enhancement Act of 2025

Eugene Simon Vindman (Democrat) · Sponsor of record · Official record ↗

What it does: The bill expands pension-linked emergency savings accounts by allowing workers who meet any age, service, and other eligibility requirements of the plan to participate and by doubling the annual contribution limit to $5,000. These changes would take effect for taxable years beginning after December 31, 2026. This bill doubles the annual contribution limit on pension-linked emergency savings accounts to $5,000 and widens who can participate, giving recordkeepers, financial institutions, and fund administrators handling 401(k)-type plans more assets and participants starting in 2027.
Where it stands: HR6417 was referred on December 3, 2025, to the Committee on Education and Workforce and the Committee on Ways and Means. No committee action or scheduled meetings are recorded, and the bill has no floor calendar placement.

HR 9732 US House Last action
July 16, 2026 BurdenLong shot

Multi-Class Stock Company Voting Transparency Act.

Sean Casten (Democrat) · Sponsor of record · Official record ↗

What it does: This proposal would require companies with multiple classes of voting stock to disclose shareholder voting results broken down by share class. The required disclosures include the total votes for, against, or withheld, as well as abstentions and broker non-votes, for each class of security. This bill requires issuers with two or more classes of voting stock to disclose shareholder voting results separately by class, including votes for, against, withheld, abstentions, and broker non-votes, imposing new reporting duties on publicly traded companies with dual or multi-class structures.
Where it stands: The bill is currently in the House Committee on Financial Services following its referral on July 16, 2026, with no meetings scheduled.

HR 9717 US House Last action
July 15, 2026 BurdenLong shot

Customer Property Protection Act

Shri Thanedar (Democrat) · Sponsor of record · Official record ↗

What it does: This proposal would require a commodity broker's own cash, securities, and inventory to be used to satisfy customer claims if the broker's separate customer assets are insufficient to cover those claims. This inclusion of the broker's estate assets is subject to any existing security interests or contractual offset rights held by other creditors. This bill requires commodity brokers in bankruptcy to use their own firm cash, securities, and other property to pay customer claims when dedicated customer assets fall short, reducing recoveries for the brokers' general creditors.
Where it stands: The bill was referred to the House Committee on Agriculture on July 15, 2026. No upcoming meetings are scheduled in the provided calendar data.

HR 9668 US House Last action
July 14, 2026 MixedLong shot

STOP Senior Fraud Act

Sector-wide

Donald G. Davis (Democrat) · Sponsor of record · Official record ↗

What it does: This bill authorizes financial institutions to refuse or delay transactions involving older adults or vulnerable persons if they reasonably suspect financial exploitation, for up to 55 days, or 85 days if an internal review supports the suspicion. It mandates employee training and notification protocols while granting safe harbor liability protection to institutions acting in good faith.
Where it stands: HR9668 is active and was referred to the House Committee on Financial Services on July 14, 2026. The committee chair controls whether a hearing or markup will be scheduled for this measure.

HR 2478 US House Last action
July 13, 2026 BurdenLong shot

Financial Exploitation Prevention Act of 2025

Ann Wagner (Republican) · Sponsor of record · Official record ↗

What it does: This proposal would allow open-end investment companies and their transfer agents to temporarily delay redeeming securities for customers suspected of being financially exploited if they voluntarily opt into the program. It would require these firms to collect emergency contact information from account holders and implement internal procedures to investigate and report suspected exploitation cases. This bill lets registered open-end investment companies and their transfer agents that opt in delay redemptions for suspected exploitation victims, but requires them to collect emergency contacts, disclose the practice in prospectuses, and keep records of investigations.
Where it stands: The House passed the bill on June 25, 2026, and it was received in the Senate and referred to the Committee on Banking, Housing, and Urban Affairs on July 13, 2026.

HR 9574 US House Last action
July 2, 2026 BenefitLong shot

Informed Investor Access Act

Troy Downing (Republican) · Sponsor of record · Official record ↗

What it does: The bill would expand the definition of an accredited investor to include individuals who receive personalized investment advice from registered financial professionals for a specific transaction. It would also require the Securities and Exchange Commission to update its regulations to match this new definition. This bill expands the accredited investor definition to cover individuals receiving personalized investment advice from SEC-registered investment advisers, brokers, or dealers, enlarging the pool of clients those firms can sell private securities offerings to.
Where it stands: The bill was referred to the House Committee on Financial Services on July 2, 2026, and no upcoming meetings are scheduled. The committee chair currently controls whether a hearing or markup occurs.

S 3755 US Senate Last action
February 2, 2026 MixedLong shot

Digital Commodity Intermediaries Act

John Boozman (Republican) · Sponsor of record · Official record ↗

What it does: The bill would establish a comprehensive federal regulatory framework for digital commodities by requiring exchanges, brokers, and dealers to register with the Commodity Futures Trading Commission. It mandates strict custody, capital, and reporting standards for these intermediaries while granting the Commission jurisdiction over spot transactions and mixed financial products. This bill requires brokers, dealers, and exchanges trading digital commodities to register with the CFTC, meet capital, custody, recordkeeping, and segregation rules, pay fees, and appoint compliance officers, while exempting dually registered firms from duplicative requirements.
Where it stands: The Digital Commodity Intermediaries Act was reported by the Senate Committee on Agriculture, Nutrition, and Forestry on February 2, 2026, and placed on the Senate Legislative Calendar under General Orders as Calendar No. 312. Because the bill was reported without a written report, it is immediately available for floor consideration without a two-day waiting period.

HR 9462 US House Last action
June 25, 2026 BurdenLong shot

Investor Choice Act of 2026

Bill Foster (Democrat) · Sponsor of record · Official record ↗

What it does: This bill prohibits brokers, dealers, and investment advisers from requiring clients to use mandatory arbitration or waive their right to join class-action lawsuits in future disputes. It also prevents public companies from including mandatory arbitration clauses in their governing documents if they wish to list securities on an exchange or register new offerings. This bill bars brokers, dealers, and investment advisers from requiring clients to agree to mandatory arbitration or waive class-action rights, and requires exchanges to refuse listing securities whose issuers mandate arbitration.
Where it stands: The Investor Choice Act of 2026 was referred to the House Committee on Financial Services on June 25, 2026. No upcoming meetings are scheduled for this measure.

S 4937 US Senate Last action
June 24, 2026 BurdenLong shot

Investor Choice Act of 2026

Jeff Merkley (Democrat) · Sponsor of record · Official record ↗

What it does: This act would prohibit brokers, dealers, funding portals, municipal securities dealers, and investment advisers from entering into agreements that mandate arbitration or restrict class action lawsuits for future disputes. It would also bar securities issuers from including mandatory arbitration clauses in their governing documents or shareholder contracts as a condition for listing or registration. This bill bars brokers, dealers, funding portals, municipal securities dealers, and investment advisers from requiring arbitration or banning class actions in customer agreements, and blocks registration or exchange listing of securities whose issuers mandate arbitration.
Where it stands: S4937 was read twice and referred to the Committee on Banking, Housing, and Urban Affairs on June 24, 2026. The bill remains in committee with no hearings or markups currently scheduled.

HR 7127 US House Last action
March 25, 2026 BenefitLong shot

Restoring the Secondary Trading Market Act

Daniel Meuser (Republican) · Sponsor of record · Official record ↗

What it does: This proposal would prohibit states from regulating off-exchange secondary trading in securities for issuers that publicly disclose current financial information. The measure restricts state authority by requiring issuers to make specific periodic reports or documents available to qualify for this exemption. This bill preempts state regulation of off-exchange secondary trading, exempting publicly disclosing issuers from state rules and freeing broker-dealers and trading platforms from state-level compliance burdens.
Where it stands: H.R. 7127 was reported by the House Committee on Financial Services on March 25, 2026, and placed on the Union Calendar as Calendar No. 493 on the same date. This placement grants the measure eligibility for floor consideration but does not guarantee that leadership will schedule a vote.

HR 7085 US House Last action
March 19, 2026 BenefitLong shot

To amend the Securities Exchange Act of 1934 to repeal certain disclosure requirements related to conflict minerals, and for other purposes.

Bill Huizenga (Republican) · Sponsor of record · Official record ↗

What it does: This proposal would repeal the requirement for certain companies to disclose whether their products contain minerals sourced from conflict zones. It removes these specific reporting mandates from federal securities law. This bill repeals securities disclosure rules requiring publicly traded issuers, including brokers, advisers, and investment companies, to report whether products contain conflict minerals, cutting their compliance and reporting costs.
Where it stands: The House Committee on Financial Services reported the bill on March 19, 2026, and it was placed on the Union Calendar, Calendar No. 481, on the same date. This placement indicates the measure is eligible for floor consideration in the Committee of the Whole, though it does not guarantee a scheduled vote.

HR 3682 US House Last action
February 11, 2026 BenefitLong shot

Financial Stability Oversight Council Improvement Act of 2025

Sector-wide

Bill Foster (Democrat) · Sponsor of record · Official record ↗

What it does: The bill prohibits the Financial Stability Oversight Council from voting to place a nonbank financial company under Federal Reserve supervision unless it first determines that less intrusive regulatory actions are insufficient to address financial stability risks. This change requires the Council to consult with the company and its primary regulator and consider alternative measures, such as new standards or company-submitted plans, before proceeding to a final determination.
Where it stands: The bill passed the House on February 9, 2026, and was received in the Senate on February 11, 2026, where it is currently referred to the Committee on Banking, Housing, and Urban Affairs. This status requires the Senate to pass identical text before the measure can proceed to the President.

S 3880 US Senate Last action
February 12, 2026 BenefitLong shot

Small Business Investor Capital Access Act

Mike Rounds (Republican) · Sponsor of record · Official record ↗

What it does: The bill raises the asset threshold for private fund advisers to be exempt from registration with the Securities and Exchange Commission from $150 million to $175 million. It also requires the commission to adjust this exemption limit every five years to account for inflation. This bill raises the asset threshold for private fund advisers exempt from SEC registration from $150 million to $175 million and adjusts it for inflation every five years, sparing smaller advisers registration costs while leaving their investors with less SEC oversight.
Where it stands: S. 3880 was read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs on February 12, 2026. No hearings or markups are scheduled, and the measure remains stalled in committee.

HR 6967 US House Last action
March 19, 2026 BenefitLong shot

Public Company Advisory Committee Act of 2026

Frank D. Lucas (Republican) · Sponsor of record · Official record ↗

What it does: This bill establishes a Public Company Advisory Committee within the Securities and Exchange Commission to provide advice on regulations regarding public companies, corporate governance, and capital formation. The committee consists of 10 to 20 members drawn from public company officers, industry association executives, and professional service providers, with the SEC required to issue public statements assessing any recommendations the committee submits. This bill gives investment bankers and financial advisers in the securities industry direct eligibility to serve on the new SEC Public Company Advisory Committee, letting them advise the agency on public company regulations and capital formation rules.
Where it stands: The House Committee on Financial Services reported the bill by filing a written report on March 19, 2026, following the markup vote on January 22, 2026. The measure was subsequently placed on the Union Calendar, Calendar No. 479, on the same date.

HR 9283 US House Last action
June 11, 2026 BurdenLong shot

Critical Defense Ownership Review Act

Ro Khanna (Democrat) · Sponsor of record · Official record ↗

What it does: The bill would bar investment companies from buying a 25 percent or larger stake in, or control of, a major defense supplier without prior Department of Defense review, and would require the parties to file a premerger notification describing the deal before it can proceed. It would also have the Defense Department review each such deal for national security, competition, and financial stability risks, send its findings to the Federal Trade Commission or the Justice Department's antitrust division within 30 days, and submit a report on defense supplier mergers to the congressional defense committees every three years with the first report due by the end of 2027. This bill requires investment companies such as private equity and hedge funds to file a premerger notification with the Defense Department and obtain its review before taking a 25 percent or larger stake in or control of a major defense supplier, blocking deals that fail review.
Where it stands: H.R. 9283 was referred to the House Committee on Armed Services on June 11, 2026 and has seen no further action; no committee meetings are scheduled in our calendar data.

S 4734 US Senate Last action
June 10, 2026 BurdenLong shot

Critical Defense Ownership Review Act

Elizabeth Warren (Democrat) · Sponsor of record · Official record ↗

What it does: The bill would bar investment companies from buying a 25 percent or larger stake in, or control of, a major defense supplier without first getting a Defense Department review, and would require the parties to file a premerger notification for the department to assess against national security, competition, and financial stability factors. It would also require the Defense Department to report its review findings to the Federal Trade Commission or Justice Department antitrust officials within 30 days, and to review and report to Congress on defense supplier merger and acquisition activity every three years, with the first report due by the end of 2027. This bill requires investment companies like private equity funds to get Defense Department review and file premerger notification before acquiring a 25 percent stake in or control of a major defense supplier, subjecting such deals to delay or blockage.
Where it stands: S4734 was read twice and referred to the Senate Committee on the Judiciary on June 10, 2026, and a markup was held by the Senate Committee on Foreign Relations on June 17, 2026. No action appears in the record after that markup, and no further meetings are scheduled.

S 4743 US Senate Last action
June 10, 2026 BurdenLong shot

AI Bubble Transparency Act

Sector-wide

Elizabeth Warren (Democrat) · Sponsor of record · Official record ↗

What it does: The bill would require the Office of Financial Research to order all financial companies to report detailed data on their loans and equity investments tied to artificial intelligence companies, including chip makers, data centers, hyperscalers, neocloud providers, model developers, and data infrastructure, with the Director able to exempt small banks with less than $10 billion in assets or firms with less than $500 million in such exposure, and with authority to compel data from any firm that fails to comply. Within a year, the Financial Stability Oversight Council would have to publish a report on the risks this AI financing poses to the financial system and issue policy recommendations to regulators and Congress, while the collected data goes unredacted to the relevant congressional committees.
Where it stands: On June 10, 2026, S. 4743 was read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs. It is now in committee, where the chair decides whether anything happens and committees need not act on referred bills.

HR 9178 US House Last action
June 8, 2026 MixedLong shot

Less Tax Paperwork for Digital Asset Owners Act

Rudy Yakym III (Republican) · Sponsor of record · Official record ↗

What it does: The bill would cut tax paperwork for digital asset owners by making network fees of $10 or less paid in digital assets tax-free, letting holders of widely traded digital assets elect simplified annual gain-and-loss accounting instead of tracking every trade, and treating certain U.S. dollar stablecoin transactions as occurring at their redemption value so little or no gain or loss is recognized. It would also reduce broker reporting by excluding qualified U.S. dollar stablecoins a customer acquired for at least 99.5 percent of their redemption value and by allowing aggregate reporting for taxpayers using the simplified method or paying small network fees, with the stablecoin rules starting in tax years after December 31, 2026 and the rest after December 31, 2027. This bill lets digital asset brokers and exchanges drop transaction-level reporting for qualified U.S. dollar stablecoins and report in aggregate for electing taxpayers, while traders and dealers in digital assets remain excluded from the small-fee and stablecoin tax relief.
Where it stands: HR 9178 was referred to the House Committee on Ways and Means on June 8, 2026, and the committee held a hearing on the bill on June 9, 2026. Since that hearing the bill has gone no further; under House practice a hearing does not commit the chair to anything, and no markup or other meeting is scheduled.

HR 9060 US House Last action
May 29, 2026 BenefitLong shot

Precious Metals Parity Act

Kevin Hern (Republican) · Sponsor of record · Official record ↗

What it does: The bill would amend the tax code so that income a regulated investment company earns from precious metals, meaning gold, silver, platinum, or palladium bullion, counts as qualifying income, letting such funds keep their special tax status while holding those metals. The change would apply to taxable years beginning after the bill is enacted. This bill lets regulated investment companies treat income from gold, silver, platinum, and palladium bullion as qualifying income, so funds can hold precious metals while keeping their favorable tax status.
Where it stands: HR9060, the Precious Metals Parity Act, was referred to the House Committee on Ways and Means on May 29, 2026 and has had no further action. It now sits at the committee stage, the point at which House bills most commonly stall and die without any announcement.

HR 8398 US House Last action
April 21, 2026 MixedLong shot

Guidelines for Use, Access, and Responsible Disclosure of Financial Data Act

Sector-wide

Bill Huizenga (Republican) · Sponsor of record · Official record ↗

What it does: The bill amends the Gramm-Leach-Bliley Act to require data minimization, opt-in consent for sensitive information, and consumer rights to access and delete data, while preempting conflicting state privacy laws. It also mandates regulatory consideration for small financial institutions and establishes new compliance standards for financial data aggregators.
Where it stands: HR8398 was referred to the House Committee on Financial Services on April 21, 2026, and remains at the referred stage with no upcoming meetings scheduled. The committee chair controls whether a hearing or markup is scheduled, while leadership retains the ability to bypass committee action through suspension, a special rule, or discharge.

HR 8383 US House Last action
April 20, 2026 BurdenLong shot

Protecting Americans’ Savings Act

Sector-wide

Zachary Nunn (Republican) · Sponsor of record · Official record ↗

What it does: This bill would require the Securities and Exchange Commission to create rules banning automated proxy voting that follows proxy advisory firm recommendations without independent review. It would also restrict institutional investors from outsourcing their voting decisions to anyone who is not a registered investment adviser, broker, or dealer with a fiduciary duty to the investor.
Where it stands: HR 8383 was referred to the House Committee on Financial Services on April 20, 2026, and remains in the referred stage. The committee chair controls whether a hearing or markup occurs, though leadership retains alternative procedural paths.

HR 8338 US House Last action
April 16, 2026 BenefitLong shot

SAFER Act of 2026

Sector-wide

Sam T. Liccardo (Democrat) · Sponsor of record · Official record ↗

What it does: This proposal prohibits financial institutions from transferring custody of securities, digital assets, or investment accounts to state governments under unclaimed property laws unless specific inactivity and death confirmation criteria are met. It also requires institutions to check retirement-age account holders against government death databases every five years to prevent the premature seizure of assets.
Where it stands: HR8338 was referred to the House Committee on Financial Services on April 16, 2026, where the committee chair controls the decision to schedule a hearing or markup. No meetings are currently scheduled for this measure in the available calendar data.

S 4157 US Senate Last action
March 19, 2026 BurdenLong shot

No Bailout for Crypto Act

Sector-wide

Richard J. Durbin (Democrat) · Sponsor of record · Official record ↗

What it does: This proposal would prohibit federal agencies from providing financial assistance or emergency liquidity to entities involved in digital asset activities to prevent their failure or bankruptcy. It also forbids the use of the Exchange Stabilization Fund for the benefit of digital asset intermediaries, service providers, or related financial service providers.
Where it stands: S4157 was read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs on March 19, 2026. No upcoming meetings are scheduled for the committee.

May also reach

Measures that reach Securities & Investment indirectly

Through a product these businesses make, a customer they serve, a competitor, or a study about them. Read these as possibilities, not duties.

S 5643 US Senate Last action
September 30, 2026 May reachLong shot

Protecting U.S. Investors From Chinese Military Companies Act

Rick Scott (Republican) · Sponsor of record · Official record ↗

What it does: The bill would require the Securities and Exchange Commission, within 10 days after the Defense Secretary updates an existing list of Chinese military companies, to indefinitely suspend trading in the securities of any company that has stayed on the list through 2 annual revisions, with an exception process under which the SEC instead notifies Congress when a company is placed on a separate Treasury sanctions list without a trading ban. The SEC would write rules needed to carry out the suspensions, but those rules could cover only identifying the affected securities, timing and enforcing the bans, applying the exception, and required notices to Congress, and the agency could not set criteria for adding or removing companies from the lists. This bill requires the SEC to indefinitely suspend trading of securities of companies on the Defense Department's Chinese military list, which bars exchanges and brokers from handling that trading and leaves investors holding the stocks unable to sell.
Where it stands: S5643 was read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs on September 30, 2026, so it is at the committee stage, the first and most common choke point in the Senate. No hearing or markup is scheduled in our calendar data, and referral leaves the committee under no obligation to act.

S 5642 US Senate Last action
September 30, 2026 May reachLong shot

Know Your Sanctioned Securities Act

Rick Scott (Republican) · Sponsor of record · Official record ↗

What it does: The bill would require the Securities and Exchange Commission, within 180 days of enactment, to write rules adding a CMC tag to the ticker symbols of securities issued by companies on the Defense Department's list of Chinese military companies, and removing that tag from any company later taken off the list. The purpose is to make it easy for investors to identify securities tied to Chinese military companies when trading. This bill directs the SEC to write rules requiring a CMC tag on tickers of securities from Chinese military companies, so exchanges and brokers must add the tag in their trading systems and advisers can more easily screen those securities.
Where it stands: S5642, the Know Your Sanctioned Securities Act, was read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs on September 30, 2026. It is now at the committee stage, where in this chamber most bills never get a markup.

S 4170 US Senate Last action
March 24, 2026 May reachLong shot

Regulation A+ Improvement Act of 2026

Ted Budd (Republican) · Sponsor of record · Official record ↗

What it does: This bill raises the maximum amount small companies can raise under the Regulation A+ exemption from $50 million to $150 million. It also requires the Securities and Exchange Commission to adjust this limit for inflation every two years. This bill raises the Regulation A+ offering cap from $50 million to $150 million with inflation adjustments, letting brokers, exchanges, and advisers handle larger streamlined securities offerings and giving funds and issuers a bigger capital-raising channel.
Where it stands: S4170 was read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs on March 24, 2026. The bill is currently stalled in committee with no scheduled hearings or markups.

HR 9434 US House Last action
June 24, 2026 May reachLong shot

REG Act of 2026

Young Kim (Republican) · Sponsor of record · Official record ↗

What it does: The bill would change four federal securities laws so that when the Securities and Exchange Commission writes new rules it must consider the rule's effects both on its own and cumulatively, together with other related final rules and recent proposed rules. It would apply this combined-impact consideration to rulemaking under the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Investment Advisers Act of 1940. This bill requires securities regulators to weigh the combined burden of new rules with existing and proposed ones before adopting them, giving brokers, investment advisers, and funds a way to challenge rules whose stacked compliance costs are excessive.
Where it stands: HR9434 was referred to the House Committee on Financial Services on June 24, 2026, and no hearing or markup is scheduled in our calendar data. The committee's chair controls whether a hearing or markup is ever noticed, though suspension, a special rule, or discharge could provide another path.

HR 3339 US House Last action
July 22, 2025 May reachLong shot

Equal Opportunity for All Investors Act of 2025

Mike Flood (Republican) · Sponsor of record · Official record ↗

What it does: This act requires the Securities and Exchange Commission to create a free certification exam that allows individuals to qualify as accredited investors without meeting traditional wealth or income thresholds. The exam must test financial competency on topics such as securities types, risk factors in private investments, and corporate governance. This bill expands the pool of accredited investors by letting people qualify through an SEC financial competency exam instead of wealth or income tests, giving brokers, private fund managers, and issuers access to more eligible buyers of private offerings.
Where it stands: The bill passed the House on July 21, 2025, and was received in the Senate on July 22, 2025, where it was read twice and referred to the Committee on Banking, Housing, and Urban Affairs. The House no longer controls the measure, and no upcoming Senate meetings are scheduled in the current data.

HR 3348 US House Last action
June 4, 2025 May reachLong shot

Accredited Investor Definition Review Act

Bill Huizenga (Republican) · Sponsor of record · Official record ↗

What it does: This bill would codify the definition of an accredited investor to include individuals holding specific professional certifications or credentials designated by the Securities and Exchange Commission. It would also require the Commission to review and update this list of qualifying credentials at least once every five years. This bill expands the accredited investor definition to include individuals holding SEC-designated professional credentials like Series 7, 65, or 82 licenses, enlarging the pool of buyers eligible for private placements offered by brokers, advisers, and investment funds.
Where it stands: The House Committee on Financial Services reported H.R. 3348 on June 4, 2025, and placed it on the Union Calendar, Calendar No. 103. This placement establishes eligibility for floor consideration in the Committee of the Whole but does not guarantee a scheduled vote.

HR 4616 US House Last action
July 22, 2025 May reachLong shot

Trusted Foreign Auditing Act of 2025

Elise M. Stefanik (Republican) · Sponsor of record · Official record ↗

What it does: This bill would prohibit trading in securities of companies headquartered in national security threat countries if they hire auditors controlled by or influenced by those governments. It also mandates public hearings when a compromised auditor is involved in a dispute with a company listed on a U.S. exchange. This bill restricts brokers and exchanges by prohibiting trading in securities of companies from national security threat countries that use auditors controlled or influenced by those governments, removing such stocks from tradable offerings.
Where it stands: The bill was referred to the House Committee on Financial Services on July 22, 2025 and is currently stalled with no scheduled meetings. The committee chair controls whether to notice a markup, as hearings are not required before markup and do not guarantee further action.

HR 10690 US House Last action
October 1, 2026 May reachLong shot

Capital Loss Inflation Fairness Act

Ralph Norman (Republican) · Sponsor of record · Official record ↗

What it does: The bill would raise the annual limit on capital losses that individual taxpayers can deduct against ordinary income from the current $3,000 to the lower of $14,250 or the excess of losses over gains, with a $7,125 limit for married people filing separately. It would also index those dollar amounts to inflation for tax years after 2026, and the new limit would apply to losses in tax years beginning after December 31, 2025. This bill raises the annual capital loss deduction individuals can claim from $3,000 to $14,250 with inflation indexing after 2026, making losses cheaper after tax for the retail investors that securities and commodity brokerages serve.
Where it stands: The bill was referred to the House Committee on Ways and Means on October 1, 2026 and has had no further action since. The referral places it at the first choke point, where the Ways and Means chair decides whether the bill ever gets a hearing or a markup, though committee action is not the only possible route.

HR 10112 US House Last action
August 17, 2026 May reachLong shot

Empowering States to Protect Seniors from Bad Actors Act

Josh Gottheimer (Democrat) · Sponsor of record · Official record ↗

What it does: The bill authorizes $10 million annually from fiscal years 2025 through 2030 for the Securities and Exchange Commission to award competitive grants to state securities and insurance regulators. These funds allow states to hire staff, purchase technology, and create educational programs to investigate and prosecute fraud targeting seniors aged 62 and older. This bill gives the SEC $10 million a year through 2030 to fund state regulators' efforts against senior financial fraud, increasing investigation and prosecution risk for brokers, advisers, and other securities firms dealing with clients aged 62 and older.
Where it stands: HR 10112 was referred to the House Committee on Financial Services on August 17, 2026 and remains pending there with no scheduled meetings.

S 5221 US Senate Last action
August 4, 2026 May reachLong shot

Stop Corrupt Trading Act

Alex Padilla (Democrat) · Sponsor of record · Official record ↗

What it does: The Stop Corrupt Trading Act prohibits the President, Vice President, and entities they control from buying or selling nonpublic information for financial gain. The bill also bans any other person from trading such information and authorizes the Attorney General to seek civil penalties and asset forfeiture from violators. This bill makes brokers and other securities firms, as persons subject to the trading ban, liable for entering any transaction involving nonpublic information for financial benefit, with fines and asset forfeiture possible.
Where it stands: The bill has been read a second time and placed on the Senate Legislative Calendar under General Orders, indicating the committee stage is complete or bypassed. No upcoming meetings are scheduled, and the companion measure in the House remains in committee.

HR 9560 US House Last action
June 30, 2026 May reachLong shot

No Profiting from Public Service Act

Kristen McDonald Rivet (Democrat) · Sponsor of record · Official record ↗

What it does: This proposal would prohibit federal officials, their spouses, and dependents from owning or trading most individual stocks, commodities, and derivatives, and would ban prediction market contracts tied to political events. Violators would face fines equal to ten percent of the investment value, mandatory disgorgement of profits, and a prohibition on deducting related losses from income taxes. This bill bars federal officials and their families from owning or trading individual stocks, commodities, derivatives, and political prediction markets, cutting brokerage commissions, asset management fees, and exchange volume as officials liquidate holdings and shift to diversified funds.
Where it stands: HR 9560 was referred on June 30, 2026 to the Committee on Oversight and Government Reform, the Committee on House Administration, the Committee on the Judiciary, and the Committee on Ways and Means for a period to be determined by the Speaker. This multiple referral subjects the bill to four committees, each acting as a gatekeeper for provisions within its jurisdiction.

HR 8864 US House Last action
May 15, 2026 May reachLong shot

LIFT Act

Terri A. Sewell (Democrat) · Sponsor of record · Official record ↗

What it does: The bill would create a new federal credit paid to state and local issuers of qualified American infrastructure bonds, covering 42 percent of each interest payment for bonds issued from 2026 through 2030 and phasing down to 30 percent thereafter, with the bond interest itself becoming taxable to holders and projects subject to prevailing wage rules. It would also loosen federal tax rules so more tax-exempt bonds can be advance refunded, and permanently raise from $10 million to $30 million, with future inflation adjustments, the amount of tax-exempt bond interest banks may hold without losing related interest deductions. This bill raises to $30 million the small issuer threshold freeing banks and financial institutions from interest expense allocation rules, and reinstates advance refunding bonds, giving underwriters and dealers new bond transactions to facilitate.
Where it stands: The LIFT Act (HR8864) was referred to the House Committee on Ways and Means on May 15, 2026, where it now sits awaiting any decision by that committee's chair to schedule a hearing or a markup. Referral is the stage where most House bills stall, since a hearing does not commit the chair to further action and a markup is never guaranteed.

One of these bills names your business.

Subscribe under Securities & Investment and Tocsin carries your position on the measures you choose from this docket, files what the law requires, and reports monthly. Introductory for $249 a month. Standard for $499. No portal, no password; this docket is yours, and the reports arrive by email.

IntroductoryCorrespondence on 1 bill a month, monthly reports$249/mo StandardCorrespondence on 3 a month, in-person on 1 a quarter, quarterly letter and legislator list$499/mo PremiumCorrespondence on 5 a month, in-person on 3 a quarter, quarterly briefing call$999/mo Subscribe under Securities & Investment → Compare plans in detail →

Previous← Scientific R&D NextSocial Assistance & Child Care →