H.R. 7127 Reported by committee Finance and Financial Sector

Restoring the Secondary Trading Market Act

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.

  1. Introduced
  2. Committee
  3. Passed House
  4. Passed Senate
  5. To President
  6. Became law
Sponsor Rep. Meuser, Daniel [R-PA-9] Introduced January 16, 2026 Cosponsors 0 Latest action March 25, 2026

Summary

Restoring the Secondary Trading Market Act
This bill prohibits states from banning, limiting, or imposing conditions upon off-exchange secondary trading of securities.  This prohibition applies if the issuer of those securities provides public information on the issuer's financial status in accordance with federal regulations.

Summary by the Congressional Research Service, Library of Congress.

Congress.gov

Actions

  1. Mar 25, 2026 Placed on the Union Calendar, Calendar No. 493.
  2. Mar 25, 2026 Reported (Amended) by the Committee on Financial Services. H. Rept. 119-573.
  3. Mar 4, 2026 Ordered to be Reported by the Yeas and Nays: 26 - 17.
  4. Mar 4, 2026 Committee Consideration and Mark-up Session Held
  5. Jan 16, 2026 Referred to the House Committee on Financial Services.
  6. Jan 16, 2026 Introduced in House

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