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H.R.1952: Spread Pricing Liquidity Act of 2013
About this Bill
|You can||read the bill|
|Sponsor||David Schweikert, R-Ariz.|
|Total Cosponsors||2 (1 Democrat, 1 Republican)|
|Introduced||May 13, 2013|
|Latest Major Action||May 13, 2013|
|See it on||GovTrack|
|See it on||C-SPAN|
- Bill introduced in the House
- Bill passed in the House
- Bill passed in the Senate
- Bill signed into law
Spread Pricing Liquidity Act of 2013 - Amends the Securities Exchange Act of 1934 concerning the national market system for securities to authorize the board of directors of an issuer with a public float of $500 million or less to select to have the issuer's securities quoted and traded using an increment (tick) of either $0.05 or $0.10.
Prohibits selection of the $0.05 tick unless the average trading price in the most recent 1-month period for the securities of an issuer is between $1 and $2. Limits the tick selection to $0.05 for the issuer of any such security.
Prescribes trading requirements. Permits a issuer that has made the selection under this Act to choose to opt out at any time after the six-month period beginning on the date the selection was made.
States that, if the public float of an issuer that has made such a tick selection rises above $500 million (based on a rolling average over the course of a 3-month period), or its average daily trading...
(Source: Congressional Research Service)
|May 13, 2013||Referred to the House Committee on Financial Services.|