To amend the Securities Exchange Act of 1934 to revise the definition of a facility.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Securities Exchange Act of 1934 to revise the definition of a facility., changes federal law or congressional policy affecting technology companies and users of digital services. The main policy domain is Technology, Finance, Transportation.
Who Benefits and How
technology companies and users of digital services may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, technology companies and users of digital services may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H2DD45A665E3945A694659B9BE4BA1595: 1. Short title This Act may be cited as the Exchange Regulatory Improvement Act of 2023.
- Section H3A28A02CF0534D20AA6B40EAEFE8E921: 2. Definition of a facility Paragraph (2) of section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)) is amended to read as follows: (2)Facility...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Securities Exchange Act of 1934 to revise the definition of a facility., changes federal law or congressional policy affecting technology companies and users of digital services.
Key Policy Areas
Technology, Finance, Transportation
Primary Purpose
This bill, To amend the Securities Exchange Act of 1934 to revise the definition of a facility., changes federal law or congressional policy affecting technology companies and users of digital services.
Policy Domains
Whole bill
Identified Gains
- technology companies and users of digital services
Identified Costs
- federal implementing agencies
- technology companies and users of digital services
Sponsors
Legislative Progress
In CommitteeReferred to the Committee on Financial Services
Mr. Loudermilk (for himself and Mr. David Scott of Georgia) …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
Key Definitions
Terms defined in this bill
only— the exchange’s trading systems, which are— the hardware, software, and related network infrastructure an exchange uses to receive, acknowledge, rank, match, and execute orders in securities traded on that exchange
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology