Plain English
GovGreed Synthesis · 2026-02-25
Protecting Private Job Creators Act This bill provides statutory authority for an exemption from specified disclosure requirements applicable to fixed-income securities (e.g., corporate bonds or a certificate of deposit). Under current securities regulations, brokers and dealers are generally prohibited from publishing securities quotations (i.e., the sale price) in over-the-counter (i.e., not on a national exchange) markets unless they have certain information about the securities issuer in their records. The Securities and Exchange Commission issued a series of orders (with the latest order issued in November 2024) granting an exemption to this rule to fixed-income securities that comply with specified safe-harbor rules. The bill provides statutory authority for this exemption.
Market Impact Map
Action Timeline
2026-02-25
Placed on the Union Calendar, Calendar No. 448.
2026-02-25
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-523.
2026-02-25
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-523.
2025-12-17
Ordered to be Reported (Amended) by the Yeas and Nays: 41 - 11.
2025-12-17
Committee Consideration and Mark-up Session Held
2025-12-16
Committee Consideration and Mark-up Session Held
2025-06-12
Referred to the House Committee on Financial Services.
2025-06-12
Introduced in House
2025-06-12
Introduced in House
Full Bill Text
119 HR 3959 RH: Protecting Private Job Creators Act U.S. House of Representatives 2026-02-25 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. IB Union Calendar No. 448 119th CONGRESS 2d Session H. R. 3959 [Report No. 119–523] IN THE HOUSE OF REPRESENTATIVES June 12, 2025 Mr. Downing (for himself and Mr. Fields ) introduced the following bill; which was referred to the Committee on Financial Services February 25, 2026 Additional sponsors: Mr. Gottheimer , Mr. David Scott of Georgia , Mrs. Wagner , Mr. Sessions , Mr. Moore of North Carolina , and Mr. Lawler February 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 June 12, 2025 A BILL To except quotations of fixed-income securities from certain regulatory requirements, and for other purposes. 1. Short title This Act may be cited as the Protecting Private Job Creators Act . 2. Exception relating to quotations of fixed-income securities (a) In general Section 240.15c2–11 of title 17, Code of Federal Regulations, shall not apply with respect to quotations of fixed-income securities. (b) Fixed-Income security defined In this section, the term fixed-income security means— (1) any note, bond, debenture, certificate of deposit for a security, certificate of deposit, asset-backed security, or any other evidence of indebtedness; and (2) any security described under paragraph (1) that is convertible, with or without consideration, into any equity security or carrying any warrant or right to subscribe to or purchase any equity security. February 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
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