Protecting Private Job Creators Act
Sponsored By: Representative Downing
In Committee
Summary
Would exempt quotations of fixed-income securities from SEC rule 17 CFR 240.15c2-11, removing that rule's quotation requirements for bonds and similar debt instruments. It defines “fixed-income security” to include notes, bonds, debentures, certificates of deposit, asset-backed securities, and any of those that are convertible or that carry a warrant or right to buy equity.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Fewer SEC rules for bond quotes
This bill would make SEC Rule 240.15c2-11 not apply to quotations of fixed-income securities. It would define fixed-income securities to include notes, bonds, debentures, certificates of deposit, asset-backed securities, and other evidence of indebtedness. It would also cover those securities if they are convertible into equity or carry warrants or rights to buy equity. Broker-dealers and market firms would no longer have the rule's quote-verification obligations for these instruments. Investors would have fewer of the verification and disclosure protections that the rule currently supports.
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Sponsors & CoSponsors
Sponsor
Downing
MT • R
Cosponsors
Fields
LA • D
Sponsored 6/12/2025
Gottheimer
NJ • D
Sponsored 9/30/2025
Scott, David
GA • D
Sponsored 10/8/2025
Wagner
MO • R
Sponsored 10/10/2025
Sessions
TX • R
Sponsored 12/16/2025
Moore (NC)
NC • R
Sponsored 12/18/2025
Lawler
NY • R
Sponsored 1/9/2026
Roll Call Votes
No roll call votes available for this bill.
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