Summary: Private Company Flexibility and Growth Act - Amends the Securities Exchange Act of 1934 to change the thresholds for total assets and for class of equity security holders of record which trigger the requirement for a securities issuer to register with the Securities and Exchange Commission (SEC). Increases the total assets threshold from $1 million to $10 million, and the class of equity security holders of record threshold from 500-750 to 2,000 persons. Declares that, with respect to such registration requirement, the definition of "held of record" does not include securities held by persons who received them pursuant to an employee compensation plan in transactions exempted from specified registration requirements of the Securities Act of 1933 (exempt transactions). (Thus exempts securities held such persons from registration requirements.) Directs the SEC to: (1) revise the definition of "held of record" in accordance with this Act, and (2) adopt safe harbor provisions issuers can follow to determine whether holders of securities have received securities pursuant to an employee compensation plan in an exempt transaction. Requires termination of the registration of a class of security of a bank or bank holding company, and subjects to automatic suspension the related duty to file supplementary and periodic information with the SEC, if the number of holders of record of such class of security is reduced to less than 1,200 persons. Excludes from the identity of municipal advisor (subject to registration requirements) any person appointed to or volunteering on a board, commission, committee, or similar function of a municipal entity. Exempts also from registration requirements any banks, including agencies or branches of a foreign bank.

private company flexibility growth act_-_amends securities_exchange_act change thresholds total assets class equity security holders record trigger requirement securities issuer register securities_and_exchange_commission sec increases total assets threshold million million class equity security holders record threshold persons declares respect registration requirement definition held record include securities held persons received pursuant employee compensation plan transactions exempted specified registration requirements securities act exempt transactions exempts securities held persons registration requirements directs sec revise definition held record accordance act adopt safe harbor provisions issuers follow determine holders securities received securities pursuant employee compensation plan exempt transaction requires termination registration class security bank bank holding company subjects automatic suspension related duty file supplementary periodic information sec number holders record class security reduced persons excludes identity municipal advisor subject registration requirements person appointed volunteering board commission committee similar function municipal entity exempts registration requirements banks including agencies branches foreign bank


Summary: Access to Capital for Job Creators Act -Amends the Securities Act of 1933 to exempt from proscriptions governing interstate commerce and the mails those transactions by an issuer that do not involve a public offering, whether or not such transactions involve general solicitation or general advertising. Directs the Securities and Exchange Commission (SEC) to revise rules governing an exemption from public offering requirements for limited offers and sales without regard to the dollar amount of the offering (Regulation D), so as to provide that a specified prohibition against general solicitation or general advertising does not apply to offers and sales of securities made pursuant to Regulation D if all purchasers of the securities are accredited investors. Amends such revised rules to require that the issuer take reasonable steps to verify that purchasers of the securities are accredited investors, using such methods as are determined by the SEC.

access capital job act securities act exempt governing interstate commerce mails transactions issuer involve public offering transactions involve general solicitation general advertising directs securities_and_exchange_commission sec revise rules governing exemption public offering requirements limited offers sales regard dollar offering regulation provide specified prohibition general solicitation general advertising apply offers sales securities pursuant regulation purchasers securities accredited investors amends revised rules require issuer reasonable steps verify purchasers securities accredited investors methods determined sec


Summary: United States Covered Bond Act - Directs the Secretary of the Treasury to establish a regulatory oversight program for specified recourse debt obligations of an eligible issuer (covered bonds) that provides for such bonds to be maintained in a manner consistent with safe and sound asset-liability management and other financial practices. Requires each covered bond regulator (a federal banking agency or the Secretary, as appropriate) to evaluate a covered bond program that has been submitted by an eligible issuer for approval by applying the oversight standards established by the Secretary. Prescribes procedures for approval and implementation of each covered bond program and multiple covered bond programs. Grants a covered bond regulator cease and desist authority if the issuer does not remedy identified deficiencies. Requires a covered bond regulator to set, as a percentage of the eligible issuer's total assets, the maximum amount of outstanding covered bonds that the eligible issuer may issue. Requires the Secretary to maintain a publicly accessible Web site registry for each covered bond program approved by a covered bond regulator. Authorizes a covered bond regulator to levy fees upon issuers of covered bonds in order to defray the costs of implementing this Act. Directs the Secretary to establish minimum over-collateralization requirements for covered bonds designed to ensure that sufficient eligible assets and substitute assets are maintained in the cover pool to satisfy all principal and interest payments on the bonds when due through maturity, based upon the credit, collection, and interest rate risks (excluding the liquidity risks) associated with the eligible asset class. Requires the eligible and substitute assets in any cover pool to meet in the aggregate and at all times, the applicable minimum over-collateralization requirements. Requires a covered bonds issuer to appoint the indenture trustee for the covered bonds, or another unaffiliated entity, as an independent asset monitor to verify and report to the Secretary and specified persons whether the cover pool meets applicable minimum over-collateralization requirements. Authorizes removal and replacement of an independent asset monitor. Treats the failure of a covered pool to meet minimum over-collateralization requirements as an uncured default if such failure is not cured within the time specified in related transaction documents. Sets forth requirements for: (1) covered bond eligibility; (2) procedures governing default and insolvency of a covered bond both before and subsequent to conservatorship, receivership, liquidation, or bankruptcy of the issuer; (3) FDIC appointment as conservator or receiver for an issuer of covered bonds; and (4) obligations of issuer and its conservator, receiver, liquidating agent, and trusteeship of the estate in bankruptcy by the covered bond regulator. Directs the Comptroller General to study whether federal reserve banks should be authorized to extend credit to an estate of a covered bond in bankruptcy. Prescribes requirements for: (1) payments and distributions to be made by such estate in bankruptcy, and (2) closing of such estate in bankruptcy. States that taxpayers shall bear no losses from the resolution of an estate in bankruptcy under this Act. Declares any covered bond issued or guaranteed by a bank is a security issued or guaranteed under specified securities laws. Prohibits treatment of specified covered bonds as an asset-backed security or a structured finance product. Requires each covered bond regulator for a bank to adopt separate schemes of registration, disclosure, reporting obligations and exemptions for offers or sales of covered bonds.

united_states covered bond act_-_directs secretary treasury establish regulatory oversight program specified recourse debt obligations eligible issuer covered bonds provides bonds maintained manner consistent safe sound asset liability management financial practices requires covered bond regulator federal banking agency secretary appropriate evaluate covered bond program submitted eligible issuer approval applying oversight standards established secretary prescribes procedures approval implementation covered bond program multiple covered bond programs grants covered bond regulator cease desist authority issuer remedy identified deficiencies requires covered bond regulator set percentage eligible issuer total assets maximum outstanding covered bonds eligible issuer issue requires secretary maintain publicly accessible web site registry covered bond program approved covered bond regulator authorizes covered bond regulator levy fees issuers covered bonds order defray costs implementing act directs secretary establish minimum requirements covered bonds designed ensure sufficient eligible assets substitute assets maintained cover pool satisfy principal interest payments bonds maturity based credit collection interest rate risks excluding liquidity risks associated eligible asset class requires eligible substitute assets cover pool meet aggregate times applicable minimum requirements requires covered bonds issuer appoint trustee covered bonds unaffiliated entity independent asset monitor verify report secretary specified persons cover pool meets applicable minimum requirements authorizes removal replacement independent asset monitor treats failure covered pool meet minimum requirements default failure time specified related transaction documents sets forth requirements covered bond eligibility procedures governing default insolvency covered bond subsequent conservatorship receivership liquidation bankruptcy issuer fdic appointment conservator receiver issuer covered bonds obligations issuer conservator receiver liquidating agent estate bankruptcy covered bond regulator directs comptroller_general study federal_reserve_banks authorized extend credit estate covered bond bankruptcy prescribes requirements payments distributions estate bankruptcy closing estate bankruptcy states taxpayers shall bear losses resolution estate bankruptcy act declares covered bond issued guaranteed bank security issued guaranteed specified securities laws prohibits treatment specified covered bonds asset backed security structured finance product requires covered bond regulator bank adopt separate schemes registration disclosure reporting obligations exemptions offers sales covered bonds


Summary: Stop Trading on Congressional Knowledge Act - Amends the Securities Exchange Act of 1934 and the Commodity Exchange Act to direct both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to prohibit purchase or sale of either securities, security-based swaps, or commodities for future delivery or swap by a person in possession of material nonpublic information regarding pending or prospective legislative action if the information was obtained: (1) knowingly from a Member or employee of Congress, (2) by reason of being a Member or employee of Congress, or (3) from other federal employees and derived from their federal employment. Makes it an element of the prohibited activity, also, that the Member or employee of Congress or the federal employee acted with the intent to assist another person, directly or indirectly, to use the information to buy or sell the securities of such publicly traded company based on such information. Amends the Standing Rules of the Senate to prohibit a Member, officer, or employee of the Senate from disclosing material nonpublic information relating to any pending or prospective legislative action relating to any publicly-traded company or to any commodity if such person acts with intent to assist another person, directly or indirectly, to use the information to buy or sell the securities of that publicly traded company based on such information. Amends the Ethics in Government Act of 1978 to require formal disclosure of certain securities and commodities futures transactions to either the Clerk of the House of Representatives or the Secretary of the Senate. Amends the Lobbying Disclosure Act of 1995 to subject to its registration, reporting, and disclosure requirements, as well as requirements for identification of clients and covered legislative and executive officials, all political intelligence activities, contacts, firms, and consultants. Requires the Comptroller General to include political intelligence activities, contacts, firms, and consultants in its annual compliance audits and reports.

stop trading congressional knowledge act_-_amends securities_exchange_act commodity_exchange_act direct securities_and_exchange_commission sec commodity_futures_trading_commission cftc prohibit purchase sale securities security based swaps commodities future delivery swap person possession material nonpublic information pending prospective legislative action information obtained knowingly member employee congress reason member employee congress federal employees derived federal employment makes element prohibited activity member employee congress federal employee acted intent assist person directly indirectly use information buy sell securities publicly traded company based information amends standing rules senate prohibit member officer employee senate disclosing material nonpublic information relating pending prospective legislative action relating publicly traded company commodity person acts intent assist person directly indirectly use information buy sell securities publicly traded company based information amends ethics_in_government_act require formal disclosure certain securities commodities futures transactions clerk house_of_representatives secretary senate amends lobbying disclosure act subject registration reporting disclosure requirements requirements identification clients covered legislative executive officials political intelligence activities contacts firms consultants requires comptroller_general include political intelligence activities contacts firms consultants annual compliance audits reports


Summary: Amends the Securities Exchange Act of 1934 regarding registration of securities to modify the registration threshold for an issuer that is either a bank or a bank holding company as well as for an issuer that is neither a bank nor a bank holding company. Raises from $1 million to $10 million the threshold for total assets of an issuer that requires registration of a certain class of equity security. Divides the holding threshold that requires registration of such a class of equity security, however, into: (1) 2,000 holders of record if the issuer is a bank or a bank holding company, and (2) 500 holders of record if the issuer is neither. Requires termination of a security registration in the case of a bank or a bank holding company if the number of holders of record of the class of security is reduced to less than 1,200. Directs the Securities and Exchange Commission (SEC) to promulgate implementing regulations.

amends securities_exchange_act registration securities modify registration threshold issuer bank bank holding company issuer bank bank holding company raises million million threshold total assets issuer requires registration certain class equity security divides holding threshold requires registration class equity security holders record issuer bank bank holding company holders record issuer requires termination security registration case bank bank holding company number holders record class security reduced directs securities_and_exchange_commission sec promulgate implementing regulations


Summary: Capital Raising Online While Deterring Fraud and Unethical Non-Disclosure Act of 2011 or CROWDFUND Act - Amends the Securities Act of 1933 (SA) to prescribe conditions under which transactions of $1 million or less involving the offer or sale of securities by an issuer through a broker or funding portal are exempt from certain registration requirements and prohibitions relating to interstate commerce and the mails (crowdfunding exemption). (Crowdfunding is a method of capital formation by which groups of people pool money, typically composed of very small individual contributions, and often via Internet platforms, to invest in a company or otherwise support an effort by others to accomplish a specific goal.) Amends the Securities Exchange Act of 1934 (SEA) to define "funding portal" as any person engaged in the business of effecting securities transactions for the account of others, solely pursuant to the crowdfunding exemption under this Act, that does not: (1) offer investment advice or recommendations; (2) solicit purchases, sales, or offers to buy the securities offered or displayed on its website or portal; (3) compensate employees, agents, or other third parties for such solicitation or based on the sale of securities displayed or references on its website or portal; (4) hold, manage, possess, or otherwise handle investor funds or securities; or (5) engage in other activities determined by the Securities and Exchange Commission (SEC). Amends the SA to set forth qualification requirements for such crowdfunding exemption, including those for intermediaries and issuers. Sets forth restrictions on sales of such exempt securities. Amends the SEA to authorize the SEC to exempt crowdfunding investors from certain shareholder caps under the Securities Act of 1933. Requires the SEC to exempt funding portals from certain registration requirements, provided that they remain subject to examination by the SEC and a national securities association. Directs the SEC to review periodically the effects of this Act upon investor protection.

capital raising online deterring fraud unethical non disclosure act act_-_amends securities act prescribe conditions transactions million involving offer sale securities issuer broker funding portal exempt certain registration requirements prohibitions relating interstate commerce mails exemption method capital formation groups people pool money typically composed small individual contributions internet platforms invest company support effort accomplish specific goal amends securities_exchange_act sea define funding portal person engaged business securities transactions account solely pursuant exemption act offer investment advice recommendations solicit purchases sales offers buy securities offered displayed website portal compensate employees agents parties solicitation based sale securities displayed references website portal hold manage possess handle investor funds securities engage activities determined securities_and_exchange_commission sec amends set forth qualification requirements exemption including intermediaries issuers sets forth restrictions sales exempt securities amends sea authorize sec exempt investors certain shareholder caps securities act requires sec exempt funding portals certain registration requirements provided remain subject examination sec national securities association directs sec review periodically effects act investor protection


Summary: Capital Raising Online While Deterring Fraud and Unethical Non-Disclosure Act of 2011 or CROWDFUND Act - Amends the Securities Act of 1933 (SA) to prescribe conditions under which transactions of $1 million or less involving the offer or sale of securities by an issuer through a broker or funding portal are exempt from certain registration requirements and prohibitions relating to interstate commerce and the mails (crowdfunding exemption). (Crowdfunding is a method of capital formation by which groups of people pool money, typically composed of very small individual contributions, and often via Internet platforms, to invest in a company or otherwise support an effort by others to accomplish a specific goal.) Amends the Securities Exchange Act of 1934 (SEA) to define "funding portal" as any person engaged in the business of effecting securities transactions for the account of others, solely pursuant to the crowdfunding exemption under this Act, that does not: (1) offer investment advice or recommendations; (2) solicit purchases, sales, or offers to buy the securities offered or displayed on its website or portal; (3) compensate employees, agents, or other persons for such solicitation or based on the sale of securities displayed or references on its website or portal; (4) hold, manage, possess, or otherwise handle investor funds or securities; or (5) engage in other activities determined by the Securities and Exchange Commission (SEC). Amends the SA to set forth qualification requirements for such crowdfunding exemption, including those for intermediaries and issuers. Sets forth restrictions on sales of such exempt securities. Amends the SEA to authorize the SEC to exempt crowdfunding investors from certain shareholder caps under the Securities Act of 1933. Requires the SEC to exempt funding portals from certain registration requirements, provided that they remain subject to examination by the SEC and a national securities association. Prohibits a state or its political subdivision from enforcing any law or administrative action against a registered funding portal with respect to its business as such. Exempts from such prohibition the examination and enforcement of any law or administrative action of a state in which the principal place of business of a registered funding portal is located, if the law or administrative action is not in addition to or different from SEC requirements for registered funding portals.

capital raising online deterring fraud unethical non disclosure act act_-_amends securities act prescribe conditions transactions million involving offer sale securities issuer broker funding portal exempt certain registration requirements prohibitions relating interstate commerce mails exemption method capital formation groups people pool money typically composed small individual contributions internet platforms invest company support effort accomplish specific goal amends securities_exchange_act sea define funding portal person engaged business securities transactions account solely pursuant exemption act offer investment advice recommendations solicit purchases sales offers buy securities offered displayed website portal compensate employees agents persons solicitation based sale securities displayed references website portal hold manage possess handle investor funds securities engage activities determined securities_and_exchange_commission sec amends set forth qualification requirements exemption including intermediaries issuers sets forth restrictions sales exempt securities amends sea authorize sec exempt investors certain shareholder caps securities act requires sec exempt funding portals certain registration requirements provided remain subject examination sec national securities association prohibits state political subdivision enforcing law administrative action registered funding portal respect business exempts prohibition examination enforcement law administrative action state principal place business registered funding portal located law administrative action addition different sec requirements registered funding portals


Summary: Rural America Preservation Act of 2012 - Amends the Food Security Act of 1985 to cap maximum annual crop year direct and indirect payments to an individual or a legal entity for: (1) covered commodities, at $125,000 (maximum of $75,000 in marketing loan gains and loan deficiency payments and $50,000 for other payments); and (2) peanuts, at $125,000 (maximum of $75,000 in marketing loan gains and loan deficiency payments and $50,000 for other payments). Provides that an eligible person and spouse in a single farming operation may jointly receive up to twice such amount. Revises provisions respecting limitation of benefits to active farmers. Makes foreign individuals and foreign entities ineligible for agricultural program benefits.

rural america preservation act amends food security act cap maximum annual crop year direct indirect payments individual legal entity covered commodities maximum marketing loan gains loan deficiency payments payments peanuts maximum marketing loan gains loan deficiency payments payments provides eligible person spouse single farming operation jointly receive twice revises provisions respecting limitation benefits active farmers makes foreign individuals foreign entities ineligible agricultural program benefits


Summary: Instructs the Commodity Futures Trading Commission (CFTC) to use its authority (including emergency powers) to: (1) to curb immediately the role of excessive speculation in any contract market within its jurisdiction and control that is serving as a platform for the trading of energy futures or swaps; and (2) eliminate excessive speculation, price distortion, sudden or unreasonable fluctuations, unwarranted changes in prices, or other unlawful activity that is causing major market disturbances that prevent the market from accurately reflecting the forces of supply and demand for energy commodities.

instructs commodity_futures_trading_commission cftc use authority including emergency powers curb immediately role excessive speculation contract market jurisdiction control serving platform trading energy futures swaps eliminate excessive speculation price sudden unreasonable fluctuations unwarranted changes prices unlawful activity causing major market disturbances prevent market accurately reflecting forces supply demand energy commodities


Summary: Amends the Commodity Exchange Act with respect to excessive speculation in a commodity under contracts of sale to direct the Commodity Futures Trading Commission (CFTC) to establish limits on the aggregate number or amount of positions in contracts for petroleum or related products that may be held by any person, or any group or class of traders, for each month across specified contracts so that: (1) the short position for traditional bona fide hedgers in the aggregate is not less than 50% percent; and (2) the long position for such hedgers in the aggregate is not less than 50% percent.

amends commodity_exchange_act respect excessive speculation commodity contracts sale direct commodity_futures_trading_commission cftc establish limits aggregate number positions contracts petroleum related products held person group class traders month specified contracts short position traditional bona fide aggregate percent long position aggregate percent


Summary: SEC Regulatory Accountability Act - Amends the Securities Exchange Act of 1934 to require the Securities and Exchange Commission (SEC), before promulgating a regulation or issuing any order, to: (1) identify the nature and significance of the problem that the proposed regulation is designed to address in order to assess whether any new regulation is warranted; (2) use the Office of the Chief Economist to assess the costs and benefits of the intended regulation and adopt it only on a determination that its benefits justify the costs; (3) ensure that any regulation is accessible, consistent, written in plain language, and easy to understand; and (4) measure and seek to improve the actual results of regulatory requirements. Directs the SEC to review its regulations and orders periodically to determine their efficacy and whether to modify or repeal them.

sec regulatory accountability act_-_amends securities_exchange_act require securities_and_exchange_commission sec promulgating regulation issuing order identify nature significance problem proposed regulation designed address order assess new regulation warranted use office chief economist assess costs benefits intended regulation adopt determination benefits justify costs ensure regulation accessible consistent written plain language easy understand measure seek improve actual results regulatory requirements directs sec review regulations orders periodically determine efficacy modify repeal


Summary: Outsourcing Accountability Act of 2012 - Amends the Securities Exchange Act of 1934 to require registered securities issuers to disclose annually to the Securities and Exchange Commission (SEC) and to shareholders: (1) the total number of employees domiciled in the United States and employed by the issuer or any consolidated subsidiary of it; (2) the total number of such employees domiciled in any country other than the United States and employed by the issuer or any consolidated subsidiary, listed by number in each country; and (3) the percentage increase or decrease in such numbers required to be disclosed from the previous reporting year. Exempts from such requirements an issuer that is an emerging growth company.

outsourcing accountability_act amends securities_exchange_act require registered securities issuers disclose annually securities_and_exchange_commission sec shareholders total number employees domiciled united_states employed issuer consolidated subsidiary total number employees domiciled country united_states employed issuer consolidated subsidiary listed number country percentage increase decrease numbers required disclosed previous reporting year exempts requirements issuer emerging growth company


Summary: Amends the Commodity Exchange Act (CEA) to exempt, from the rules of prudential regulators for swap dealers and major swap participants with respect to initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization, those swaps in which one of the counterparties: (1) is eligible for an exception from clearing requirements for certain significant price discovery agreements, contracts, or transactions in a commodity exempt from regulation by the Commodity Futures Trading Commission (CFTC); or (2) satisfies specified criteria governing treatment of affiliates in connection with clearing requirements. Amends the Securities Exchange Act of 1934, regarding registration and regulation of security-based swap dealers and major security-based swap participants, to exempt from initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization a security-based swap in which one of the counterparties: (1) qualifies for a specified exception from clearing requirements, or (2) satisfies certain criteria governing the treatment of affiliates. Requires that the amendments to CEA made by this Act be implemented: (1) without regard to federal information policy requirements or the notice and comment requirements of federal administrative procedure; and (2) through promulgation of an interim final rule, pursuant to which public comment will be sought before a final rule is issued. Limits the disregard of such federal information policy and notice and comment requirements solely to changes to rules and regulations, or proposed rule and regulations, that are limited to, and directly a consequence of, the amendments to CEA made by this Act.

amends commodity_exchange_act cea exempt rules prudential regulators swap dealers major swap participants respect initial variation margin requirements swaps cleared registered derivatives clearing organization swaps counterparties eligible exception clearing requirements certain significant price discovery agreements contracts transactions commodity exempt regulation commodity_futures_trading_commission cftc satisfies specified criteria governing treatment affiliates connection clearing requirements amends securities_exchange_act registration regulation security based swap dealers major security based swap participants exempt initial variation margin requirements swaps cleared registered derivatives clearing organization security based swap counterparties qualifies specified exception clearing requirements satisfies certain criteria governing treatment affiliates requires amendments cea act implemented regard federal information policy requirements notice comment requirements federal administrative procedure promulgation interim final rule pursuant public comment sought final rule issued limits disregard federal information policy notice comment requirements solely changes rules regulations proposed rule regulations limited directly consequence amendments cea act


Summary: Amends the Securities Exchange Act of 1934 to permit a non-registered municipal securities advisor, on behalf of a municipal entity or an obligated person, to: (1) provide advice regarding either municipal financial products or the issuance of such products, and (2) undertake the solicitation of a municipal entity. Prohibits the rules of the Municipal Securities Rulemaking Board (MSRB) from regulating as municipal advisors the activities of certain persons specifically excluded from the definition of municipal advisor, namely: (1) a broker, dealer, or municipal securities dealer serving as an underwriter; (2) an investment adviser registered under the Investment Advisers Act of 1940 (or persons associated with such investment advisers who are providing investment advice); (3) a commodity trading advisor registered under the Commodity Exchange Act (or associated persons who are providing advice related to swaps); (4) attorneys providing legal advice or services that are of a traditional legal nature; and (5) engineers providing engineering advice. Limits the fiduciary duty a municipal advisor and any associated person owe to a municipal entity (or associated person) the advisor advises to those times when the advisor acts pursuant to an engagement, for compensation, by the municipal entity or obligated person to advise on either municipal financial products or the issuance of municipal securities. Directs the MSRB to require that a municipal advisor act in accordance with its fiduciary duty to municipal entity clients, but only in connection with specified activities involving those clients. Prohibits the MSRB from barring: (1) principal transactions by municipal advisors, or (2) the receipt of compensation based on standard compensation involving the purchase or sale of a security or other instrument (including deposit or foreign exchange). Authorizes the MSRB to: (1) issue rules requiring a municipal advisor to engage only in transactions or receive compensation consistent with the advisor's fiduciary duty, and (2) prohibit a municipal advisor who has been engaged to provide advice with respect to an underwritten offering of securities from acting concurrently as underwriter of such offering. Redefines "investment strategies" as plans or programs for: (1) investment of the direct proceeds of municipal securities (but not other public funds) which are neither municipal derivatives nor guaranteed investment contracts, and (2) the recommendation and brokerage of municipal escrow investments, where such proceeds and investments are either known to the municipal advisor to comprise funds or investments maintained exclusively in a segregated account, or have been identified in writing as funds or investments constituting the proceeds of municipal securities or municipal escrow investments. Excludes specified practices from "investment strategies" (and, therefore, from regulation under this Act), including: (1) merely acting as a broker or principal for the purchase or sale of a security or other instrument (including deposit or foreign exchange); (2) furnishing a list of, or price quotations for, investment options or securities or other instruments which may be available for purchase or investment or which satisfy investment criteria specified by a municipal entity; (3) acting as a custodian; (4) providing generalized information concerning investments not tailored to the specific investment objectives of the municipal entity; or (5) providing advice with respect to matters other than the investment of funds or financial products. Limits the definition of "municipal advisor" to a person (who is not a municipal entity or obligated person, or an employee of a municipal entity or obligated person) but who is engaged for compensation by a municipal entity to advise on either municipal financial products or the issuance of municipal securities. Excludes from the definition of municipal advisors solely as a result of their performing the following activities: (1) a financial institution engaging in specified excluded activities pursuant to an exemption from registration, when acting as a dealer or principal with respect to deposits, foreign exchange, or identified banking products, providing other traditional banking or trust services otherwise subject to a fiduciary duty under state or federal law, providing administrative or operational services or support, or providing advice that is related to or in connection with any such activities and not for separate compensation; (2) a person providing state-regulated insurance products, services, or advice and not for separate compensation; (3) an accountant providing customary and usual accounting services or advising in connection with such activities and not for separate compensation; and (4) an attorney offering traditional legal advice or services. Redefines "solicitation of a municipal entity" to: (1) eliminate solicitation for the purpose of obtaining or retaining an engagement by an investment adviser providing investment advisory services on behalf of a municipal entity, but (2) state that communications on behalf of a collective investment vehicle (investment fund) shall not be deemed to be on behalf of any investment adviser that advises or manages such collective investment vehicle. Defines "municipal derivative" as a swap or security-based swap in which a municipal entity is a counterparty. Defines providing advice "on behalf of a municipal entity or obligated person" as providing advice to a person known to be engaged by a municipal entity to provide services to the municipal entity in connection with the issuance of municipal securities.

amends securities_exchange_act permit non registered municipal securities advisor behalf municipal entity obligated person provide advice municipal financial products issuance products undertake solicitation municipal entity prohibits rules municipal_securities_rulemaking_board regulating municipal advisors activities certain persons specifically excluded definition municipal advisor broker dealer municipal securities dealer serving underwriter investment adviser registered investment advisers act persons associated investment advisers providing investment advice commodity trading advisor registered commodity_exchange_act associated persons providing advice related swaps attorneys providing legal advice services traditional legal nature engineers providing engineering advice limits fiduciary duty municipal advisor associated person owe municipal entity associated person advisor advises times advisor acts pursuant engagement compensation municipal entity obligated person advise municipal financial products issuance municipal securities directs require municipal advisor act accordance fiduciary duty municipal entity clients connection specified activities involving clients prohibits barring principal transactions municipal advisors receipt compensation based standard compensation involving purchase sale security instrument including deposit foreign exchange authorizes issue rules requiring municipal advisor engage transactions receive compensation consistent advisor fiduciary duty prohibit municipal advisor engaged provide advice respect underwritten offering securities acting concurrently underwriter offering redefines investment strategies plans programs investment direct proceeds municipal securities public funds municipal derivatives guaranteed investment contracts recommendation brokerage municipal escrow investments proceeds investments known municipal advisor comprise funds investments maintained exclusively segregated account identified writing funds investments constituting proceeds municipal securities municipal escrow investments excludes specified practices investment strategies regulation act including merely acting broker principal purchase sale security instrument including deposit foreign exchange furnishing list price investment options securities instruments available purchase investment satisfy investment criteria specified municipal entity acting custodian providing generalized information concerning investments tailored specific investment objectives municipal entity providing advice respect matters investment funds financial products limits definition municipal advisor person municipal entity obligated person employee municipal entity obligated person engaged compensation municipal entity advise municipal financial products issuance municipal securities excludes definition municipal advisors solely result performing following activities financial institution engaging specified excluded activities pursuant exemption registration acting dealer principal respect deposits foreign exchange identified banking products providing traditional banking trust services subject fiduciary duty state federal law providing administrative operational services support providing advice related connection activities separate compensation person providing state regulated insurance products services advice separate compensation accountant providing customary usual accounting services advising connection activities separate compensation attorney offering traditional legal advice services redefines solicitation municipal entity eliminate solicitation purpose obtaining retaining engagement investment adviser providing investment advisory services behalf municipal entity state communications behalf collective investment vehicle investment fund shall deemed behalf investment adviser advises manages collective investment vehicle defines municipal derivative swap security based swap municipal entity counterparty defines providing advice behalf municipal entity obligated person providing advice person known engaged municipal entity provide services municipal entity connection issuance municipal securities


Summary:
Next Steps for Credit Availability Act - Amends the Investment Company Act of 1940 to allow a business development company (BDC) to own or acquire securities or other interests in the business of a registered investment adviser or adviser to an investment company.

Reduces from 200% to 150% the asset coverage requirements applicable to BDCs. Allows a BDC to issue stock.

Directs the Securities and Exchange Commission (SEC) to revise various rules under the Securities Act of 1933 and to revise forms as necessary to allow a BDC to use security offering rules available to other issuers that are required to file security issuance reports under the Securities Exchange Act of 1934.

steps credit availability act_-_amends investment company act allow business development company acquire securities interests business registered investment adviser adviser investment company reduces asset coverage requirements applicable allows issue stock directs securities_and_exchange_commission sec revise rules securities act revise forms necessary allow use security offering rules available issuers required file security issuance reports securities_exchange_act


Summary:
Business Risk Mitigation and Price Stabilization Act of 2013 - Amends the Commodity Exchange Act (CEA) to exempt, from the rules of prudential regulators for swap dealers and major swap participants with respect to initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization, those swaps in which one of the counterparties: (1) is eligible for an exception from clearing requirements because it is not a financial entity, uses swaps to hedge or mitigate commercial risk, and notifies the Commodity Futures Trading Commission (CFTC) how it meets financial obligations associated with entering into non-cleared swaps; (2) is eligible for a public interest exemption from swap clearing requirements for certain cooperative entities; or (3) satisfies specified criteria governing treatment of affiliates in connection with clearing requirements.

Amends the Securities Exchange Act of 1934, regarding registration and regulation of security-based swap dealers and major security-based swap participants, to exempt from initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization a security-based swap in which one of the counterparties: (1) qualifies for a specified exception from clearing requirements, or (2) satisfies certain criteria governing the treatment of affiliates.

 Requires that the amendments to CEA made by this Act be implemented: (1) without regard to federal information policy requirements or the notice and comment requirements of federal administrative procedure; and (2) through promulgation of an interim final rule, pursuant to which public comment will be sought before a final rule is issued. Limits the disregard of such federal information policy and notice and comment requirements solely to changes to rules and regulations, or proposed rule and regulations, that are limited to, and directly a consequence of, the amendments to CEA made by this Act.

business risk mitigation price stabilization act amends commodity_exchange_act cea exempt rules prudential regulators swap dealers major swap participants respect initial variation margin requirements swaps cleared registered derivatives clearing organization swaps counterparties eligible exception clearing requirements financial entity uses swaps hedge mitigate commercial risk notifies commodity_futures_trading_commission cftc meets financial obligations associated entering non cleared swaps eligible public interest exemption swap clearing requirements certain cooperative entities satisfies specified criteria governing treatment affiliates connection clearing requirements amends securities_exchange_act registration regulation security based swap dealers major security based swap participants exempt initial variation margin requirements swaps cleared registered derivatives clearing organization security based swap counterparties qualifies specified exception clearing requirements satisfies certain criteria governing treatment affiliates requires amendments cea act implemented regard federal information policy requirements notice comment requirements federal administrative procedure promulgation interim final rule pursuant public comment sought final rule issued limits disregard federal information policy notice comment requirements solely changes rules regulations proposed rule regulations limited directly consequence amendments cea act


Summary: Amends the Securities Act of 1933 to set October 31, 2013, as the deadline for the Securities and Exchange Commission (SEC) to add a class of domestic securities to those already exempted from regulation under that Act in accordance with specified terms and conditions, including that: (1) the aggregate offering amount of all securities offered and sold within the prior 12-month period in reliance on the new exemption shall not exceed $50 million, (2) the securities may be offered and sold publicly, and (3) they shall not be restricted securities under federal securities laws and regulations.

amends securities act set october deadline securities_and_exchange_commission sec add class domestic securities exempted regulation act accordance specified terms conditions including aggregate offering securities offered sold prior month period reliance new exemption shall exceed million securities offered sold publicly shall restricted securities federal securities laws regulations


Summary:
(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

 Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013 - Amends the Commodity Exchange Act, with respect to derivatives clearing organizations and swap data repositories, to repeal the prerequisite that, before the Commodity Futures Trading Commission (CFTC) may share information with specified regulatory agencies, such agencies must agree to indemnify the CFTC for expenses arising from litigation relating to information so provided.

Amends the Securities Exchange Act of 1934 to repeal similarly the prerequisite that, before a security-based swap data repository may share information with specified regulatory entities, such entities must agree to indemnify both such repository and the Securities and Exchange Commission (SEC) for expenses arising from litigation relating to information so provided.

measure amended introduced summary version repeated swap data repository clearinghouse indemnification correction act amends commodity_exchange_act respect derivatives clearing organizations swap data repositories repeal prerequisite commodity_futures_trading_commission cftc share information specified regulatory agencies agencies agree indemnify cftc expenses arising litigation relating information provided amends securities_exchange_act repeal similarly prerequisite security based swap data repository share information specified regulatory entities entities agree indemnify repository securities_and_exchange_commission sec expenses arising litigation relating information provided


Summary:
Security in Bonding Act of 2014 - Amends the Small Business Investment Act of 1958 with respect to any Small Business Administration (SBA) guarantee or agreement to indemnify a surety under the Small Business Investment Program against loss from a breach of the terms of a bid bond, payment bond, performance bond, or ancillary bonds, by a principal on any total work order or contract amount at the time of bond execution that does not exceed $6.5 million, as adjusted for inflation.

Increases from 70% to 90% of the loss incurred and paid by a surety authorized to issue bonds (subject to SBA guarantee) the SBA's maximum obligation to pay the surety under the guarantee or agreement to indemnify.

security bonding act amends small_business_investment_act respect small_business_administration sba guarantee agreement indemnify surety small business investment program loss breach terms bid bond payment bond performance bond ancillary bonds principal total work order contract time bond execution exceed million adjusted inflation increases loss incurred paid surety authorized issue bonds subject sba guarantee sba maximum obligation pay surety guarantee agreement indemnify


Summary:
Outsourcing Accountability Act of 2013 - Amends the Securities Exchange Act of 1934 to require registered securities issuers to disclose annually to the Securities and Exchange Commission (SEC) and to shareholders: (1) the total number of employees domiciled in the United States and listed by number in each state (including those of consolidated subsidiaries); (2) the total number of such employees physically working in and domiciled in any country other than the United States, listed by number in each country; and (3) the percentage increase or decrease in such numbers from the previous reporting year.

Exempts from such requirements: (1) certain new public companies, and (2) issuers with total annual gross revenues of less than $1 billion during the most recently completed fiscal year.

outsourcing accountability_act amends securities_exchange_act require registered securities issuers disclose annually securities_and_exchange_commission sec shareholders total number employees domiciled united_states listed number state including consolidated subsidiaries total number employees physically working domiciled country united_states listed number country percentage increase decrease numbers previous reporting year exempts requirements certain new public companies issuers total annual gross revenues billion recently completed fiscal year


Summary:
Municipal Advisor Oversight Improvement Act of 2013 - Amends the Securities Exchange Act of 1934 to permit a non-registered municipal securities advisor, on behalf of a municipal entity or an obligated person, to: (1) provide advice regarding either municipal financial products or the issuance of such products, and (2) undertake the solicitation of a municipal entity.

Prohibits the rules of the Municipal Securities Rulemaking Board (MSRB) from regulating as municipal advisors the activities of certain persons specifically excluded from the definition of municipal advisor, namely: (1) a broker, dealer, or municipal securities dealer serving as an underwriter; (2) an investment adviser registered under the Investment Advisers Act of 1940 (or persons associated with such investment advisers who are providing investment advice); (3) a commodity trading advisor registered under the Commodity Exchange Act (or associated persons who are providing advice related to swaps); (4) attorneys providing legal advice or services that are of a traditional legal nature; and (5) engineers providing engineering advice.

Limits the fiduciary duty a municipal advisor and any associated person owe to a municipal entity (or associated person) the advisor advises to those times when the advisor acts pursuant to an engagement, for compensation, by the municipal entity or obligated person to advise on either municipal financial products or the issuance of municipal securities.

Directs the MSRB to require that a municipal advisor act in accordance with its fiduciary duty to municipal entity clients, but only in connection with specified activities involving those clients.

Prohibits the MSRB from barring: (1) principal transactions by municipal advisors, or (2) the receipt of compensation based on standard compensation involving the purchase or sale of a security or other instrument (including deposit or foreign exchange).

Authorizes the MSRB to: (1) issue rules requiring a municipal advisor to engage only in transactions or receive compensation consistent with the advisor's fiduciary duty, and (2) prohibit a municipal advisor who has been engaged to provide advice with respect to an underwritten offering of securities from acting concurrently as underwriter of such offering.

Redefines "investment strategies" as plans or programs for: (1) investment of the direct proceeds of municipal securities (but not other public funds) which are neither municipal derivatives nor guaranteed investment contracts; and (2) the recommendation and brokerage of municipal escrow investments, where such proceeds and investments are either known to the municipal advisor to comprise funds or investments maintained exclusively in a segregated account, or have been identified in writing as funds or investments constituting the proceeds of municipal securities or municipal escrow investments.

Excludes specified practices from "investment strategies" (and, therefore, from regulation under this Act), including: (1) merely acting as a broker or principal for the purchase or sale of a security or other instrument (including deposit or foreign exchange); (2) furnishing a list of, or price quotations for, investment options or securities or other instruments which may be available for purchase or investment or which satisfy investment criteria specified by a municipal entity; (3) acting as a custodian; (4) providing generalized information concerning investments not tailored to the specific investment objectives of the municipal entity; or (5) providing advice with respect to matters other than the investment of funds or financial products.

Limits the definition of "municipal advisor" to a person (who is not a municipal entity or obligated person, or an employee of a municipal entity or obligated person) but who is engaged for compensation by a municipal entity to advise on either municipal financial products or the issuance of municipal securities.

Excludes from the definition of municipal advisors solely as a result of their performing the following activities: (1) a financial institution engaging in specified excluded activities pursuant to an exemption from registration, when acting as a dealer or principal with respect to deposits, foreign exchange, or identified banking products, providing other traditional banking or trust services otherwise subject to a fiduciary duty under state or federal law, providing administrative or operational services or support, or providing advice that is related to or in connection with any such activities and not for separate compensation; (2) a person providing state-regulated insurance products, services, or advice and not for separate compensation; (3) an accountant providing customary and usual accounting services or advising in connection with such activities and not for separate compensation; and (4) an attorney offering traditional legal advice or services.

Redefines "solicitation of a municipal entity" to: (1) eliminate solicitation for the purpose of obtaining or retaining an engagement by an investment adviser providing investment advisory services on behalf of a municipal entity, but (2) state that communications on behalf of a collective investment vehicle (investment fund) shall not be deemed to be on behalf of any investment adviser that advises or manages such collective investment vehicle.

Defines "municipal derivative" as a swap or security-based swap in which a municipal entity is a counterparty.

Defines providing advice "on behalf of a municipal entity or obligated person" as providing advice to a person known to be engaged by a municipal entity to provide services to the municipal entity in connection with the issuance of municipal securities.

municipal advisor oversight improvement act amends securities_exchange_act permit non registered municipal securities advisor behalf municipal entity obligated person provide advice municipal financial products issuance products undertake solicitation municipal entity prohibits rules municipal_securities_rulemaking_board regulating municipal advisors activities certain persons specifically excluded definition municipal advisor broker dealer municipal securities dealer serving underwriter investment adviser registered investment advisers act persons associated investment advisers providing investment advice commodity trading advisor registered commodity_exchange_act associated persons providing advice related swaps attorneys providing legal advice services traditional legal nature engineers providing engineering advice limits fiduciary duty municipal advisor associated person owe municipal entity associated person advisor advises times advisor acts pursuant engagement compensation municipal entity obligated person advise municipal financial products issuance municipal securities directs require municipal advisor act accordance fiduciary duty municipal entity clients connection specified activities involving clients prohibits barring principal transactions municipal advisors receipt compensation based standard compensation involving purchase sale security instrument including deposit foreign exchange authorizes issue rules requiring municipal advisor engage transactions receive compensation consistent advisor fiduciary duty prohibit municipal advisor engaged provide advice respect underwritten offering securities acting concurrently underwriter offering redefines investment strategies plans programs investment direct proceeds municipal securities public funds municipal derivatives guaranteed investment contracts recommendation brokerage municipal escrow investments proceeds investments known municipal advisor comprise funds investments maintained exclusively segregated account identified writing funds investments constituting proceeds municipal securities municipal escrow investments excludes specified practices investment strategies regulation act including merely acting broker principal purchase sale security instrument including deposit foreign exchange furnishing list price investment options securities instruments available purchase investment satisfy investment criteria specified municipal entity acting custodian providing generalized information concerning investments tailored specific investment objectives municipal entity providing advice respect matters investment funds financial products limits definition municipal advisor person municipal entity obligated person employee municipal entity obligated person engaged compensation municipal entity advise municipal financial products issuance municipal securities excludes definition municipal advisors solely result performing following activities financial institution engaging specified excluded activities pursuant exemption registration acting dealer principal respect deposits foreign exchange identified banking products providing traditional banking trust services subject fiduciary duty state federal law providing administrative operational services support providing advice related connection activities separate compensation person providing state regulated insurance products services advice separate compensation accountant providing customary usual accounting services advising connection activities separate compensation attorney offering traditional legal advice services redefines solicitation municipal entity eliminate solicitation purpose obtaining retaining engagement investment adviser providing investment advisory services behalf municipal entity state communications behalf collective investment vehicle investment fund shall deemed behalf investment adviser advises manages collective investment vehicle defines municipal derivative swap security based swap municipal entity counterparty defines providing advice behalf municipal entity obligated person providing advice person known engaged municipal entity provide services municipal entity connection issuance municipal securities


Summary:
Improving Security for Investors and Providing Closure Act of 2013 or Improving SIPC Act of 2013 - Amends the Securities Investor Protection Act of 1970 with respect to any action in a U.S. district court by the Securities and Exchange Commission (SEC) against the Securities Investor Protection Corporation (SIPC) in the event that SIPC refuses to commit funds or otherwise act for the protection of customers of any SIPC member (debtor broker or dealer).

Authorizes SIPC, at the time the SEC action initiates such action, to allow all customers of the debtor broker or dealer to elect to receive a one-time payment from the SIPC Fund.

Prescribes procedures for such customer election. Limits the amount paid to a customer under such election to the lesser of: (1) the customer's net equity claim against the debtor, and (2) a $500,000 cap on one-time payments.

Subrogates SIPC to all rights of the customer receiving a one-time payment against the debtor once the customer recovers an amount equal to the customer's net equity claim against the debtor.

Treats a certificate of deposit (CD) purchased by a person through an account with the debtor as cash deposited and held by the debtor in an amount equal to the amount the person paid for the CD, less any amounts paid to such person on the CD.

Permits a person prevented from making an election under this Act because SIPC does not identify such person as a customer of the debtor to challenge that determination in federal district court.

improving security investors providing closure act improving act amends securities investor protection act respect action district_court securities_and_exchange_commission sec securities investor protection corporation event refuses commit funds act protection customers member debtor broker dealer authorizes time sec action initiates action allow customers debtor broker dealer elect receive time payment fund prescribes procedures customer election limits paid customer election lesser customer net equity claim debtor cap time payments rights customer receiving time payment debtor customer equal customer net equity claim debtor treats certificate deposit purchased person account debtor cash deposited held debtor equal person paid amounts paid person permits person prevented making election act identify person customer debtor challenge determination federal district_court


Summary:
Wall Street Trading and Speculators Tax Act - Amends the Internal Revenue Code to impose a .03% excise tax on the purchase of a security if: (1) such purchase occurs or is cleared on a trading facility located in the United States, or (2) the purchaser or seller is a U.S. person.

Defines "security" to include: (1) stocks, partnership interests, notes, bonds, debentures, or other evidences of indebtedness; (2) interests in a derivative financial instrument (i.e., any option, forward contract, futures contract, or any similar financial instrument) and (3) any notional principal contract.

Exempts from such tax: (1) initial issues of securities; (2) any note, bond, debenture, or other evidence of indebtedness which is traded on a trading facility located in the United States and has a fixed maturity of not more than 100 days; and (3) securities traded pursuant to certain lending arrangements. Makes such tax applicable to transactions by controlled foreign corporations and payable by its U.S. shareholders.

Allows an offset against such tax for contributions to certain tax-favored accounts, including tax-exempt retirement plans, Archer medical savings accounts, health savings accounts, and qualified tuition plans and Coverdell education savings accounts.

wall street trading tax act amends_the_internal_revenue_code impose excise tax purchase security purchase occurs cleared trading facility located united_states purchaser seller person defines security include stocks partnership interests notes bonds debentures evidences indebtedness interests derivative financial instrument option forward contract futures contract similar financial instrument notional principal contract exempts tax initial issues securities note bond debenture evidence indebtedness traded trading facility located united_states fixed maturity days securities traded pursuant certain lending arrangements makes tax applicable transactions controlled foreign corporations payable shareholders allows offset tax contributions certain tax favored accounts including tax exempt retirement plans archer_medical_savings_accounts health savings_accounts qualified tuition plans coverdell education savings_accounts


Summary:
Amends the Commodity Exchange Act to revise the requirement that the Commodity Futures Trading Commission (CFTC), before promulgating a regulation or issuing an order, consider the costs and benefits of the action. Requires the CFTC, through the Office of the Chief Economist, to: (1) assess the costs and benefits, both qualitative and quantitative, of an intended regulation; and (2) propose or adopt a regulation only on a reasoned determination that the benefits justify the costs.

Lists additional mandatory considerations for the CFTC to evaluate in making a reasoned determination of the costs and the benefits, including the impact on market liquidity in the futures and swaps markets, as well as alternatives to direct regulation.

amends commodity_exchange_act revise requirement commodity_futures_trading_commission cftc promulgating regulation issuing order consider costs benefits action requires cftc office chief economist assess costs benefits qualitative quantitative intended regulation propose adopt regulation reasoned determination benefits justify costs lists additional mandatory considerations cftc evaluate making reasoned determination costs benefits including impact market liquidity futures swaps markets alternatives direct regulation


Summary:
SEC Regulatory Accountability Act - (Sec. 2) Amends the Securities Exchange Act of 1934 (Act) to direct the Securities and Exchange Commission (SEC), before issuing a regulation under the securities laws, to: (1) identify the nature and source of the problem that the proposed regulation is designed to address in order to assess whether any new regulation is warranted; (2) use the SEC Chief Economist to assess the costs and benefits of the intended regulation and adopt it only upon a reasoned determination that its benefits justify the costs; (3) identify and assess the available alternatives that were considered; and (4) ensure that any regulation is accessible, consistent, written in plain language, and easy to understand.

Requires the SEC to: (1) consider whether the rulemaking will promote efficiency, competition, and capital formation; (2) consider the impact of the regulation upon investor choice, market liquidity, and small business; (3) explain in its final rule the nature of comments received concerning the proposed rule or rule change; and (4) respond to those comments, explaining any changes made in response and the reasons that it did not incorporate industry group concerns regarding potential costs or benefits.

Requires the SEC to: (1) review periodically its existing regulations to determine if they are outmoded, ineffective, insufficient, or excessively burdensome; and (2) modify, streamline, expand, or repeal them.

Requires the SEC, whenever it adopts or amends a major rule, to state in its adopting release: (1) the purposes and intended consequences of the regulation, (2) the post-implementation quantitative and qualitative metrics to measure the economic impact of the regulation and the extent to which it has accomplished the stated purposes, (3) the assessment plan that will be used under the supervision of the Chief Economist to assess whether the regulation has achieved those purposes, and (4) any foreseeable unintended or negative consequences.

 Requires the assessment plan to: (1) consider the costs, benefits, and intended and unintended consequences of the regulation; (2) specify the data to be collected, the methods for its collection and analysis, and an assessment completion date; and (3) analyze jobs added or lost as a result of the regulation, differentiating between public and private sector jobs.

Waives notice and comment requirements for the data collection if the SEC has published its assessment plan for notice and comment at least 30 days before adoption of a final regulation or amendment.

 (Sec. 3) Expresses the sense of Congress that the Public Company Accounting Oversight Board should also follow the requirements set forth by this Act.

(Sec. 4) Prohibits a rule adopted by either the Municipal Securities Rulemaking Board or any registered national securities association from taking effect unless the SEC determines that, in adopting such rule, such entities have complied with the requirements of this Act.

sec regulatory accountability_act sec amends securities_exchange_act act direct securities_and_exchange_commission sec issuing regulation securities laws identify nature source problem proposed regulation designed address order assess new regulation warranted use sec chief economist assess costs benefits intended regulation adopt reasoned determination benefits justify costs identify assess available alternatives considered ensure regulation accessible consistent written plain language easy understand requires sec consider rulemaking promote efficiency competition capital formation consider impact regulation investor choice market liquidity small business explain final rule nature comments received concerning proposed rule rule change respond comments explaining changes response reasons incorporate industry group concerns potential costs benefits requires sec review periodically existing regulations determine outmoded ineffective insufficient excessively burdensome modify streamline expand repeal requires sec adopts amends major rule state adopting release purposes intended consequences regulation post implementation quantitative qualitative metrics measure economic impact regulation extent accomplished stated purposes assessment plan supervision chief economist assess regulation achieved purposes foreseeable unintended negative consequences requires assessment plan consider costs benefits intended unintended consequences regulation specify data collected methods collection analysis assessment completion date analyze jobs added lost result regulation public private sector jobs waives notice comment requirements data collection sec published assessment plan notice comment days adoption final regulation amendment sec expresses sense congress public_company_accounting_oversight_board follow requirements set forth act sec prohibits rule adopted municipal_securities_rulemaking_board registered national securities association taking effect sec determines adopting rule entities complied requirements act


Summary:
National Association of Registered Agents and Brokers Reform Act of 2013 - Amends the Gramm-Leach-Bliley Act to repeal the contingent conditions under which the National Association of Registered Agents and Brokers (NARAB) shall not be established. Establishes the NARAB without contingent conditions as an independent nonprofit corporation to prescribe, on a multi-state basis, licensing and insurance producer qualification requirements and conditions.

Requires the NARAB, without affecting state regulatory authority, to provide a mechanism for the adoption and multi-state application of requirements and conditions pertaining to: (1) licensing, continuing education, and other qualifications of non-NARAB insurance producers; (2) resident or nonresident insurance producer appointments; (3) supervision and disciplining of such producers; and (4) the setting of licensing fees for insurance producers.

Makes any state-licensed insurance producer eligible to join the NARAB, except during a period of license suspension or revocation. Requires an individual insurance producer to undergo a criminal history record check by the Federal Bureau of Investigation (FBI). Requires the NARAB to submit to the FBI identification information obtained from the insurance producer, upon producer request, as well as a request of its own for the criminal history record check.

Authorizes the NARAB to: (1) establish membership criteria; and (2) deny membership to a state-licensed insurance producer on the basis of the criminal history information obtained, or where the producer has been subject to certain disciplinary action.

Prohibits the NARAB from establishing criteria that unfairly limit the ability of a small insurance producer to become a member of NARAB.

Authorizes the NARAB to establish separate classes of membership and membership criteria, and requires it to do so for business entities.

Authorizes the NARAB to deny membership to any state-licensed insurance producer for failure to meet membership criteria.

States that NARAB membership authorizes an insurance producer to engage in the business of insurance in any state for any lines of insurance specified in the producer's home state license, including claims adjustments and settlement, risk management, and specified insurance-related consulting activities.

Makes NARAB membership equivalent to a nonresident insurance producer license for specified purposes.

Retains state regulatory jurisdiction regarding consumer protection and market conduct.

Directs the NARAB to establish, as a condition of membership, continuing education requirements comparable to those under the licensing laws of a majority of the states.

Requires NARAB to receive and refer any consumer complaints to state insurance regulators.

Requires the NARAB to maintain a toll-free number and, as practicable, other alternative means of communication with consumers, such as an Internet webpage.

Authorizes the NARAB to establish: (1) a central clearinghouse through which NARAB members may disclose their intent to operate in one or more states and pay their licensing fees; and (2) a database for the collection of regulatory information concerning the activities of insurance producers.

Establishes the NARAB board of directors, whose membership shall include state insurance commissioners. Sets forth terms and procedures for appointment of members by the President. Authorizes reappointment to successive terms. Prohibits compensation on account of Board membership.

Declares that NARAB shall not be deemed to be an insurer or insurance producer within the meaning of any state law, rule, regulation, or order regulating or taxing insurers, insurance producers, or other entities engaged in the business of insurance.

Sets forth procedures for presidential oversight of NARAB, including removal of the entire existing Board.

Requires the NARAB to coordinate with the Financial Industry Regulatory Authority (FINRA) in order to ease any administrative burdens that fall on NARAB members subject to FINRA regulation.

national_association_of_registered_agents_and_brokers reform_act amends gramm leach bliley act repeal contingent conditions national_association_of_registered_agents_and_brokers narab shall established establishes narab contingent conditions independent nonprofit corporation prescribe multi state basis licensing insurance producer qualification requirements conditions requires narab affecting state regulatory authority provide mechanism adoption multi state application requirements conditions pertaining licensing continuing education qualifications non narab insurance producers resident nonresident insurance producer appointments supervision disciplining producers setting licensing fees insurance producers makes state licensed insurance producer eligible join narab period license suspension revocation requires individual insurance producer undergo criminal history record check federal_bureau_of_investigation fbi requires narab submit fbi identification information obtained insurance producer producer request request criminal history record check authorizes narab establish membership criteria deny membership state licensed insurance producer basis criminal history information obtained producer subject certain disciplinary action prohibits narab establishing criteria unfairly limit ability small insurance producer member narab authorizes narab establish separate classes membership membership criteria requires business entities authorizes narab deny membership state licensed insurance producer failure meet membership criteria states narab membership authorizes insurance producer engage business insurance state lines insurance specified producer home state license including claims adjustments settlement risk management specified insurance related consulting activities makes narab membership equivalent nonresident insurance producer license specified purposes retains state regulatory jurisdiction consumer protection market conduct directs narab establish condition membership continuing education requirements comparable licensing laws majority states requires narab receive refer consumer complaints state insurance regulators requires narab maintain toll free number practicable alternative means communication consumers internet webpage authorizes narab establish central clearinghouse narab members disclose intent operate states pay licensing fees database collection regulatory information concerning activities insurance producers establishes narab board_of_directors membership shall include state insurance commissioners sets forth terms procedures appointment members president authorizes reappointment successive terms prohibits compensation account board membership declares narab shall deemed insurer insurance producer meaning state law rule regulation order regulating taxing insurers insurance producers entities engaged business insurance sets forth procedures presidential oversight narab including removal entire existing board requires narab coordinate financial_industry_regulatory_authority finra order ease administrative burdens fall narab members subject finra regulation


Summary:
(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Small Business Capital Access and Job Preservation Act - Amends the Investment Advisers Act of 1940 to exempt private equity fund investment advisers from its registration and reporting requirements, provided that each private equity fund has not borrowed and does not have outstanding a principal amount exceeding twice its invested capital commitments.

Directs the Securities and Exchange Commission (SEC) to promulgate final rules that: (1) require such investment advisers to maintain records the SEC determines necessary, taking into account fund size, governance, investment strategy, and risk; and (2) define the term "private equity fund" for purposes of this Act.

measure amended introduced summary version repeated small business capital access job preservation act_-_amends investment advisers act exempt private equity fund investment advisers registration reporting requirements provided private equity fund borrowed outstanding principal exceeding twice invested capital commitments directs securities_and_exchange_commission sec promulgate final rules require investment advisers maintain records sec determines necessary taking account fund size governance investment strategy risk define term private equity fund purposes act


Summary: Corporate Propaganda Sunshine Act - Directs the Securities and Exchange Commission (SEC) to revise certain regulations to require issuers to include in specified periodic reports any expenditures totaling $1,000 or more that were made for the purpose of influencing public opinion on any matter other than the promotion of the issuer's products or services. Requires such disclosures to include the date, amount, and purpose of the expenditure and to identify (by name, address, and phone number) the person to whom it was made.

corporate propaganda sunshine act_-_directs securities_and_exchange_commission sec revise certain regulations require issuers include specified periodic reports expenditures totaling purpose influencing public opinion matter promotion issuer products services requires disclosures include date purpose expenditure identify address phone number person


Summary:
National Association of Registered Agents and Brokers Reform Act of 2013 - (Sec. 2) Amends the Gramm-Leach-Bliley Act to repeal the contingent conditions under which the National Association of Registered Agents and Brokers (NARAB) shall not be established. Establishes the NARAB without contingent conditions as an independent nonprofit corporation to prescribe, on a multi-state basis, licensing and insurance producer qualification requirements and conditions.

Prohibits the NARAB from merging with or into any other private or public entity.

Requires the NARAB, without affecting state regulatory authority, to provide a mechanism for the adoption and multi-state application of requirements and conditions pertaining to: (1) licensing, continuing education, and other qualifications of non-NARAB insurance producers; (2) resident or nonresident insurance producer appointments; (3) supervision and disciplining of such producers; and (4) the setting of licensing fees for insurance producers.

Makes any state-licensed insurance producer eligible to join the NARAB, except during a period of license suspension or revocation. Requires an individual insurance producer to undergo a criminal history record check by the Federal Bureau of Investigation (FBI). Requires the NARAB to submit to the FBI identification information obtained from the insurance producer, upon producer request, as well as a request of its own for the criminal history record check.

Authorizes the NARAB to: (1) establish membership criteria; and (2) deny membership to an individual state-licensed insurance producer on the basis of the criminal history information obtained, or where the producer has been subject to certain disciplinary action.

Prescribes procedures governing a criminal history record check, including the rights of applicants denied membership.

Authorizes the NARAB to establish membership criteria, including separate classes of membership and membership criteria for business entities; but prohibits it from establishing criteria that unfairly limit the ability of a small insurance producer to become a member of NARAB, including discriminatory membership fees.

Authorizes the NARAB to establish separate categories of membership for insurance producers and for other persons or entities within each class, based on the types of licensing categories that exist under state laws.

Prohibits the NARAB from establishing special categories of membership, including distinct membership criteria for members that are depository institutions or for their employees, agents, or affiliates.

Prohibits the NARAB from adopting any qualification less protective to the public than that contained in the National Association of Insurance Commissioners (NAIC) Producer Licensing Model Act.

Prescribes procedures for authorized information sharing pursuant to a request by a licensed insurance producer.

Authorizes the NARAB to deny membership to any state-licensed insurance producer for failure to meet membership criteria.

States that NARAB membership authorizes an insurance producer to engage in the business of insurance in any state for any lines of insurance specified in the producer's home state license, including claims adjustments and settlement, risk management, and specified insurance-related consulting activities.

Makes NARAB membership equivalent to a nonresident insurance producer license for specified purposes.

Empowers the NARAB to act as agent for any member for the purpose of remitting licensing fees to a state.

Requires the NARAB to disclose to states, including state insurance regulators and the NAIC, on an ongoing basis, a list of the states in which each member is authorized to operate.

Retains state regulatory jurisdiction regarding: (1) consumer protection and market conduct, and (2) state disciplinary authority.

Requires the NARAB to establish, as a condition of membership, continuing education requirements comparable to the continuing education requirements under the licensing laws of a majority of the states.

Prohibits the NARAB from offering continuing education courses for insurance producers.

Grants the NARAB disciplinary enforcement powers.

Requires the NARAB to: (1) receive and investigate consumer complaints, and to maintain a toll-free telephone number; and (2) refer any such complaint to the state insurance regulator. Prescribes information- sharing procedures and limitations with the NAIC or governmental entities.

Authorizes the NARAB to establish: (1) a central clearinghouse, or utilize NAIC as a central clearinghouse through which NARAB members may disclose their intent to operate in one or more states; and (2) a national database for the collection of regulatory information concerning the activities of insurance producers.

Establishes the NARAB board of directors, whose membership shall include state insurance commissioners. Sets forth terms and procedures for appointment of members by the President. Authorizes reappointment to successive terms. Prohibits compensation on account of Board membership.

Declares that the NARAB shall not be deemed to be an insurer or insurance producer within the meaning of any state law, rule, regulation, or order regulating or taxing insurers, insurance producers, or other entities engaged in the business of insurance.

Sets forth procedures for presidential oversight of the NARAB, including removal of the entire existing Board.

Sets forth a limited preemption of state laws purporting to regulate insurance producers.

Directs the NARAB to coordinate with the Financial Industry Regulatory Authority (FINRA) in order to ease administrative burdens that fall on NARAB members subject to regulation by FINRA.

Authorizes any person aggrieved by a NARAB decision or action to commence a civil action in an appropriate federal district court.

Prohibits federal funding of the NARAB.

national_association_of_registered_agents_and_brokers reform_act sec amends gramm leach bliley act repeal contingent conditions national_association_of_registered_agents_and_brokers narab shall established establishes narab contingent conditions independent nonprofit corporation prescribe multi state basis licensing insurance producer qualification requirements conditions prohibits narab merging private public entity requires narab affecting state regulatory authority provide mechanism adoption multi state application requirements conditions pertaining licensing continuing education qualifications non narab insurance producers resident nonresident insurance producer appointments supervision disciplining producers setting licensing fees insurance producers makes state licensed insurance producer eligible join narab period license suspension revocation requires individual insurance producer undergo criminal history record check federal_bureau_of_investigation fbi requires narab submit fbi identification information obtained insurance producer producer request request criminal history record check authorizes narab establish membership criteria deny membership individual state licensed insurance producer basis criminal history information obtained producer subject certain disciplinary action prescribes procedures governing criminal history record check including rights applicants denied membership authorizes narab establish membership criteria including separate classes membership membership criteria business entities prohibits establishing criteria unfairly limit ability small insurance producer member narab including discriminatory membership fees authorizes narab establish separate categories membership insurance producers persons entities class based types licensing categories exist state laws prohibits narab establishing special categories membership including distinct membership criteria members depository institutions employees agents affiliates prohibits narab adopting qualification protective public contained national_association_of_insurance_commissioners naic producer licensing model act prescribes procedures authorized information sharing pursuant request licensed insurance producer authorizes narab deny membership state licensed insurance producer failure meet membership criteria states narab membership authorizes insurance producer engage business insurance state lines insurance specified producer home state license including claims adjustments settlement risk management specified insurance related consulting activities makes narab membership equivalent nonresident insurance producer license specified purposes empowers narab act agent member purpose remitting licensing fees state requires narab disclose states including state insurance regulators naic ongoing basis list states member authorized operate retains state regulatory jurisdiction consumer protection market conduct state disciplinary authority requires narab establish condition membership continuing education requirements comparable continuing education requirements licensing laws majority states prohibits narab offering continuing education courses insurance producers grants narab disciplinary enforcement powers requires narab receive investigate consumer complaints maintain toll free telephone number refer complaint state insurance regulator prescribes sharing procedures limitations naic governmental entities authorizes narab establish central clearinghouse utilize naic central clearinghouse narab members disclose intent operate states national database collection regulatory information concerning activities insurance producers establishes narab board_of_directors membership shall include state insurance commissioners sets forth terms procedures appointment members president authorizes reappointment successive terms prohibits compensation account board membership declares narab shall deemed insurer insurance producer meaning state law rule regulation order regulating taxing insurers insurance producers entities engaged business insurance sets forth procedures presidential oversight narab including removal entire existing board sets forth limited preemption state laws purporting regulate insurance producers directs narab coordinate financial_industry_regulatory_authority finra order ease administrative burdens fall narab members subject regulation finra authorizes person aggrieved narab decision action commence civil action appropriate federal district_court prohibits federal funding narab


Summary:
(This measure has not been amended since it was reported to the House as amended, Part I, on June 10, 2013. The summary of that version is repeated here.)

Swap Jurisdiction Certainty Act - Directs the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to issue jointly rules governing the application of swaps requirements of the Securities Exchange Act of 1934 and the Commodity Exchange Act, relating to cross-border swaps and security-based swaps transactions involving U.S. persons or non-U.S. persons.

Requires such rules to be identical (except to the extent necessary to accommodate differences in other underlying statutory requirements), and to address: (1) the nature of the connections to the United States that require a non-U.S. person to register as a swap dealer, major swap participant, security-based swap dealer, or security-based swap participant under each Commission's respective Acts and related regulations; (2) the extent to which U.S. swaps requirements shall apply to the swap and security-based swap activities of non-U.S. persons, U.S. persons, and their branches, agencies, subsidiaries, and affiliates outside the United States; and (3) the circumstances under which a non-U.S. person in compliance with the regulatory requirements of a foreign jurisdiction shall be exempt from U.S. swaps requirements.

Directs the Commissions to exempt from U.S. swaps requirements any non-U.S. person in compliance with the swaps regulatory requirements of a country or administrative region having one of the nine largest combined swap and security-based swap markets by notional amount in the calendar year preceding issuance of such rules (unless the Commissions jointly determine that such requirements are not broadly equivalent to U.S. swaps requirements).

Requires the Commissions to report to Congress if they determine jointly that the regulatory requirements of such foreign jurisdictions are not broadly equivalent to U.S. swaps requirements.

measure amended reported house amended june summary version repeated swap jurisdiction certainty act_-_directs securities_and_exchange_commission sec commodity_futures_trading_commission cftc issue jointly rules governing application swaps requirements securities_exchange_act commodity_exchange_act relating cross border swaps security based swaps transactions involving persons non persons requires rules identical extent necessary accommodate differences underlying statutory requirements address nature connections united_states require non person register swap dealer major swap participant security based swap dealer security based swap participant commission respective acts related regulations extent swaps requirements shall apply swap security based swap activities non persons persons branches agencies subsidiaries affiliates outside united_states circumstances non person compliance regulatory requirements foreign jurisdiction shall exempt swaps requirements directs commissions exempt swaps requirements non person compliance swaps regulatory requirements country administrative region having largest combined swap security based swap markets notional calendar year preceding issuance rules commissions jointly determine requirements broadly equivalent swaps requirements requires commissions report congress determine jointly regulatory requirements foreign jurisdictions broadly equivalent swaps requirements


Summary: Inclusive Prosperity Act of 2013 - Amends the Internal Revenue Code to: (1) impose an excise tax on the transfer of ownership in certain securities (covered transaction), including any share of stock in a corporation, any partnership or beneficial interest in a partnership or trust, any note, bond, debenture, or other evidence of indebtedness (excluding tax-exempt municipal bonds), or derivative financial instruments; (2) impose a penalty on taxpayers who fail to include a covered transaction on their tax return or information statement; and (3) allow an individual taxpayer whose modified adjusted gross income does not exceed $50,000 ($75,000 for married taxpayers filing joint returns) a tax credit for the amount of tax paid on covered transactions.

inclusive prosperity act amends_the_internal_revenue_code impose excise tax transfer ownership certain securities covered transaction including share stock corporation partnership beneficial interest partnership trust note bond debenture evidence indebtedness excluding tax exempt municipal bonds derivative financial instruments impose penalty taxpayers fail include covered transaction tax return information statement allow individual taxpayer modified adjusted gross income exceed married taxpayers filing joint returns tax credit tax paid covered transactions


Summary: Focusing the SEC on Its Mission Act - Amends the Securities Exchange Act of 1934 to prohibit the Securities and Exchange Commission from requiring the disclosure by an issuer of any political expenditure.

focusing sec mission act_-_amends securities_exchange_act prohibit securities_and_exchange_commission requiring disclosure issuer political expenditure