Section 1 Short title
This Act may be cited as the “National Securities Exchange Regulatory Parity Act”.
National Securities Exchange Regulatory Parity Act
A BILL
To amend the Securities Act of 1933 to specify when a nationally traded security is exempt from State regulation of security offerings.
Sec. 2 Nationally traded securities exemption
Section 18(b)(1) of the Securities Act of 1933 (15 U.S.C. 77r(b)(1)) is amended—
by striking subparagraph (A);
in subparagraph (B)—
by inserting “a security designated as qualified for trading in the national market system pursuant to section 11A(a)(2) of the Securities Exchange Act of 1934 that is” before “listed”; and
by striking “that has listing standards that the Commission determines by rule (on its own initiative or on the basis of a petition) are substantially similar to the listing standards applicable to securities described in subparagraph (A)”;
in subparagraph (C), by striking “or (B)”; and
by redesignating subparagraphs (B) and (C) as subparagraphs (A) and (B), respectively.