# 119-hr-7127: Restoring the Secondary Trading Market Act

119-hr-7127, Restoring the Secondary Trading Market Act, is a 119th Congress bill sponsored by Rep. Meuser, Daniel [R-PA-9] (R-PA); status in_committee; PRIA reads it as touching household money (as of 2026-07-18).

- Canonical: https://policyrisk.com/legislation/119-hr-7127
- As of: 2026-07-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-7127
- Congress: 119
- Title: Restoring the Secondary Trading Market Act
- Status: in_committee
- Introduced: 2026-01-16
- Sponsor: Rep. Meuser, Daniel [R-PA-9] (R-PA)
- Cosponsors: 0
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-07-18

## Summary

**Preempts state regulation of off-exchange secondary trading when an issuer publicly provides required current information.** This bill would add a new paragraph to Section 18(a) of the Securities Act of 1933 that stops States from prohibiting, limiting, or conditioning off-exchange secondary trades in securities of issuers that supply the specific current disclosures cited in 17 CFR 230.257(b) and 15c2-11(b). The precise scope of "off-exchange secondary trading" would be defined by the Commission. - Issuers: Companies that provide the listed current information would face fewer state-level limits on off-exchange secondary trading in their securities. This change links those protections to the specific disclosures named in the CFR citations. - Investors: Buyers and sellers could gain broader access to off-exchange trading in covered securities because States could not block or condition those trades. - State regulators: States would lose the authority to prohibit, limit, or impose conditions on off-exchange secondary trades for issuers that meet the disclosure triggers. - The Commission: The bill delegates to the Commission the task of defining which transactions count as off-exchange secondary trading.

## Provisions PRIA read

- More off-exchange trading for investors: benefit, medium. This bill would stop States from banning, limiting, or conditioning off-exchange secondary trading in a company's securities when the company makes current information public. Investors would be able to buy and sell those shares off-exchange across state lines without state limits. 'Off-exchange se…

## Related bills

- 119-hr-9237: Take Care of America’s Veterans Act
- 119-hr-6644: 21st Century ROAD to Housing Act
- 119-hr-137: TCJA Permanency Act
- 119-hr-3633: Digital Asset Market Clarity Act
- 119-hr-2570: Maximum Pressure Act
- 119-hr-6955: Main Street Capital Access Act

## Sources
- [119-hr-7127 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/7127)

## Related
- [119-hr-9237: Take Care of America’s Veterans Act](https://policyrisk.com/legislation/119-hr-9237)
- [119-hr-6644: 21st Century ROAD to Housing Act](https://policyrisk.com/legislation/119-hr-6644)
- [119-hr-137: TCJA Permanency Act](https://policyrisk.com/legislation/119-hr-137)
- [119-hr-3633: Digital Asset Market Clarity Act](https://policyrisk.com/legislation/119-hr-3633)
- [119-hr-2570: Maximum Pressure Act](https://policyrisk.com/legislation/119-hr-2570)
- [119-hr-6955: Main Street Capital Access Act](https://policyrisk.com/legislation/119-hr-6955)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-7127 (as of 2026-07-18).