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H.R.1952: Spread Pricing Liquidity Act of 2013

About this Bill

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Sponsor David Schweikert, R-Ariz.
Total Cosponsors 2 (1 Democrat, 1 Republican)
Introduced May 13, 2013
Latest Major Action May 13, 2013
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Bill Progress

  • Bill introduced in the House   
  • Bill passed in the House   
  • Bill passed in the Senate   
  • Bill signed into law

Bill Summary

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)

Bill Actions

Date Description
May 13, 2013 Referred to the House Committee on Financial Services.