# 119-hr-2689: To amend the Securities Exchange Act of 1934 to transfer authorities and duties of registered national securities associations to the Securities and Exchange Commission.

119-hr-2689, To amend the Securities Exchange Act of 1934 to transfer authorities and duties of registered national securities associations to the Securities and Exchange Commission., is a 119th Congress bill sponsored by Rep. McClain, Lisa C. [R-MI-9] (R-MI); status introduced; PRIA reads it as touching household money (as of 2025-12-21).

- Canonical: https://policyrisk.com/legislation/119-hr-2689
- As of: 2025-12-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-2689
- Congress: 119
- Title: To amend the Securities Exchange Act of 1934 to transfer authorities and duties of registered national securities associations to the Securities and Exchange Commission.
- Status: introduced
- Introduced: 2025-04-07
- Sponsor: Rep. McClain, Lisa C. [R-MI-9] (R-MI)
- Cosponsors: 0
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2025-12-21

## Summary

**Transfers all authorities and duties of national securities associations to the Securities and Exchange Commission.** The bill would centralize oversight by moving the statutory powers now held by national securities associations to the SEC and require the SEC to write rules to implement the change before it takes effect. - National securities associations would lose the authorities and duties given to them under securities laws on the date that is two years after the bill's enactment. - The Securities and Exchange Commission would assume those authorities and duties and must issue rules to carry out the transfer before the effective date. - Any reference in federal law, regulation, or other official records to a national securities association would be treated as a reference to the SEC, changing how citations work.

## Provisions PRIA read

- SEC would absorb securities association powers: mixed, high. This bill would move all powers and duties of national securities associations to the Securities and Exchange Commission. The change would take effect 2 years after the bill is enacted. Before that date, the SEC would issue rules to carry out the transfer. After the change, any law or rule that nam…

## Related bills

- 119-hr-6337: ROAD to Housing Act of 2025
- 119-hr-4312: SCORE Act
- 119-hr-6955: Main Street Capital Access Act
- 119-hr-3847: Student-athlete Protections and Opportunities through Rights, Transparency, and Safety Act
- 119-hr-1357: Susan Muffley Act of 2025
- 119-hr-21: Born-Alive Abortion Survivors Protection Act

## Sources
- [119-hr-2689 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/2689)

## Related
- [119-hr-6337: ROAD to Housing Act of 2025](https://policyrisk.com/legislation/119-hr-6337)
- [119-hr-4312: SCORE Act](https://policyrisk.com/legislation/119-hr-4312)
- [119-hr-6955: Main Street Capital Access Act](https://policyrisk.com/legislation/119-hr-6955)
- [119-hr-3847: Student-athlete Protections and Opportunities through Rights, Transparency, and…](https://policyrisk.com/legislation/119-hr-3847)
- [119-hr-1357: Susan Muffley Act of 2025](https://policyrisk.com/legislation/119-hr-1357)
- [119-hr-21: Born-Alive Abortion Survivors Protection Act](https://policyrisk.com/legislation/119-hr-21)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-2689 (as of 2025-12-21).