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S.1725: Restoring Main Street Investor Protection and Confidence Act
About this Bill
|This bill was introduced in the||113th Congress|
|This bill is primarily about||finance and financial sector|
|You can||read the bill|
|Sponsor||David Vitter, R-La.|
|Total Cosponsors||8 (5 Democrats, 3 Republicans)|
|Introduced||Nov. 19, 2013|
|Latest Major Action||Nov. 19, 2013|
|See it on||GovTrack|
|See it on||C-SPAN|
- Bill introduced in the Senate
- Bill passed in the Senate
- Bill passed in the House
- Bill signed into law
Restoring Main Street Investor Protection and Confidence Act - Amends the Securities Investor Protection Act of 1970 to revise the definition of "net equity."
Bases the determination of net equity, the positions, options, and contracts of a customer reported to the customer as held by the debtor, and any indebtedness of the customer to the debtor, upon: (1) the information contained in the last statement issued by the debtor to the customer before the filing date; and (2) any additional written confirmations of the customer's positions, options, contracts, or indebtedness received after such last statement but before the filing date.
Makes an exception to this requirement when a debtor's records indicate a higher value. Requires determination of the customer's net equity using the debtor's books and records instead of the customer's last statement when the debtor's books and records indicate that the net value of a customer's positions, options, and contracts repo...
(Source: Congressional Research Service)
|Nov. 19, 2013||Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.|