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HR 7127 · 119th Congress · Finance and Financial Sector

Restoring the Secondary Trading Market Act

Introduced January 16, 2026 Latest action March 25, 2026 0 cosponsors

Sponsor

Latest action

Placed on the Union Calendar, Calendar No. 493.

Action timeline

Every recorded action on this bill, newest first. Stage badges color-code the legislative path.

Mar 25, 2026
committee Reported (Amended) by the Committee on Financial Services. H. Rept. 119-573.
Financial Services Committee
Mar 25, 2026
other Placed on the Union Calendar, Calendar No. 493.
Mar 04, 2026
committee Committee Consideration and Mark-up Session Held
Financial Services Committee
Mar 04, 2026
committee Ordered to be Reported by the Yeas and Nays: 26 - 17.
Financial Services Committee
Jan 16, 2026
introduced Introduced in House

Text versions

Each stage of the bill — official text published by GPO. Click any format to read on congress.gov / govinfo.

Mar 25, 2026 Reported in House
XML
Jan 16, 2026 Introduced in House
XML

CRS summaries

Plain-English summaries written by the Congressional Research Service — neutral, nonpartisan staff who summarize bills as they advance through stages. The authoritative description of what each version of the bill does.

via Congressional Research Service · published through congress.gov

Changelog
ⓘ

How a bill moves through Congress. Each stage produces a new official text. The diff between them shows what changed at that step.

  1. ih / is — Introduced in House / Senate. First filed version.
  2. rfh / rfs — Referred to a committee for review.
  3. rh / rs — Reported back by the committee to the floor (often with amendments — this is where most language changes happen).
  4. pcs / pch — Placed on Calendar for floor consideration.
  5. eh / es — Engrossed. Passed by the originating chamber. Text is now what was actually voted on.
  6. rdh / rds — Received by the other chamber.
  7. eah / eas — Engrossed Amendment. The other chamber passed an amended version.
  8. ath / ats — Agreed to. Both chambers settled on the same text.
  9. enr — Enrolled. Final reconciled text, sent to the President.
  10. pl — Public Law. Signed by the President. It's now law.
  11. pp — Public Print. Official printing post-enactment.

Most bills die before eh/es. Going from pcs → enr is the full path through both chambers.

Line-level diff between text versions of this bill — what actually changed at each legislative stage.

→
+40 −4 25 unchanged
--- Introduced (House)
+++ Reported (House)
@@ -1,11 +1,14 @@
[From the U.S. Government Publishing Office]
-[H.R. 7127 Introduced in House (IH)]
+[H.R. 7127 Reported in House (RH)]
<DOC>
+Union Calendar No. 493
119th CONGRESS
2d Session
H. R. 7127
+
+[Report No. 119-573]
To amend the Securities Act of 1933 to exempt off-exchange secondary
trading from State regulation where such trading is with respect to
@@ -20,6 +23,15 @@
Mr. Meuser introduced the following bill; which was referred to the
Committee on Financial Services
+
+March 25, 2026
+
+Reported with an amendment, committed to the Committee of the Whole
+House on the State of the Union, and ordered to be printed
+[Strike out all after the enacting clause and insert the part printed
+in italic]
+[For text of introduced bill, see copy of bill as introduced on January
+16, 2026]
_______________________________________________________________________
@@ -40,8 +52,8 @@
SEC. 2. EXEMPTION FROM STATE REGULATION.
-Section 18(a) of the Securities Act of 1933 (15 U.S.C. 77r(b)(4))
-is amended--
+Section 18(a) of the Securities Act of 1933 (15 U.S.C. 77r(a)) is
+amended--
(1) in paragraph (2), by striking ``or'' at the end;
(2) in paragraph (3), by striking the period at the end and
inserting ``; or''; and
@@ -58,4 +70,28 @@
``(B) the documents and information specified in
paragraph (b) of section 15c2-11 of title 17, Code of
Federal Regulations.''.
-<all>
+Union Calendar No. 493
+
+119th CONGRESS
+
+2d Session
+
+H. R. 7127
+
+[Report No. 119-573]
+
+_______________________________________________________________________
+
+A BILL
+
+To amend the Securities Act of 1933 to exempt off-exchange secondary
+trading from State regulation where such trading is with respect to
+securities of an issuer that makes publicly available certain current
+information, and for other purposes.
+
+_______________________________________________________________________
+
+March 25, 2026
+
+Reported with an amendment, committed to the Committee of the Whole
+House on the State of the Union, and ordered to be printed

Lobbying activity

Organizations whose LDA filings reference this bill, ranked by filing count. Position not disclosed — LDA does not require lobbyists to report support / oppose / monitor. Bill-number references can be stale (lobbyists sometimes copy text year-over-year), so verify against the filing description.

CHAMBER OF COMMERCE OF THE U.S.A.
FIN
1
filings · 2026 Q1
AMERICAN ASSOCIATION FOR JUSTICE
FIN
1
filings · 2026 Q1
AMERICANS FOR FINANCIAL REFORM
FIN
1
filings · 2026 Q1

via Senate LDA · self-reported quarterly. Filing count = filings mentioning this bill (no position required), not money spent on it. Click a client to see all bills they've filed on.