HR 4617 · 117th Congress · Finance and Financial Sector

To be added Act of 2021

Introduced 2021-07-22· Sponsored by Rep. Sherman, Brad [D-CA-30]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 22.(2021-07-29)

Plain Language Summary

[AI summary unavailable — showing source text] This bill directs the Securities and Exchange Commission (SEC) to study and report on payment for order flow (payment received by a stock brokerage firm for directing orders to another firm that buys and sells stock). The SEC must study, among other topics, conflicts arising from these payment arrangements, the impact on trade execution quality and pricing, and how firms disclose this arrangement to customers. The SEC must revise its rules, subject to notice and comment, consistent with the results of the study.…

Summarized by Claude AI · Non-partisan · For informational purposes only

CBO Cost Estimate

Congressional Budget Office

H.R. 4617, Order Flow Improvement Act

Nov 17, 2022

As ordered reported on July 29, 2021

Full CBO report ↗

Official non-partisan budget analysis by the Congressional Budget Office