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Bill Details

HJRES.53 - 119th Congress

Track Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Form N-PORT and Form N-CEN Reporting; Guidance on Open-End Fund Liquidity Risk Management Programs".? Stop tracking Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Form N-PORT and Form N-CEN Reporting; Guidance on Open-End Fund Liquidity Risk Management Programs".?

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Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Form N-PORT and Form N-CEN Reporting; Guidance on Open-End Fund Liquidity Risk Management Programs".

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Form N-PORT and Form N-CEN Reporting; Guidance on Open-End Fund Liquidity Risk Management Programs".
Status
  1. Introduced
  2. Passed House
  3. Passed Senate
  4. To President
  5. Law
Latest action
2025-02-12 - Referred to the House Committee on Financial Services.
Introduced Date
2025-02-12
Policy Area
Finance and Financial Sector
Committees
View committees (1)
Votes
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8
0

AI Summary This summary was generated by AI from the bill text. AI can get information wrong.

This resolution would block a recent Securities and Exchange Commission rule about mutual fund reporting and liquidity risk management. If approved, the SEC rule on Form N-PORT, Form N-CEN, and guidance for open-end fund liquidity risk programs would be canceled and would have no legal effect.

  • It uses a congressional review process to reject the SEC rule.
  • The rule was published in September 2024 and deals with reporting requirements for certain investment funds.
  • It also covers SEC guidance on how open-end funds should manage liquidity risk, or the chance that a fund may not be able to quickly sell assets to meet withdrawals.

Official Summaries

No summaries available

Current Full Text

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.J. Res. 53 Introduced in House (IH)]

<DOC>






119th CONGRESS
  1st Session
H. J. RES. 53

  Providing for congressional disapproval under chapter 8 of title 5, 
    United States Code, of the rule submitted by the Securities and 
Exchange Commission relating to ``Form N-PORT and Form N-CEN Reporting; 
    Guidance on Open-End Fund Liquidity Risk Management Programs''.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 12, 2025

Mr. Clyde submitted the following joint resolution; which was referred 
                 to the Committee on Financial Services

_______________________________________________________________________

                            JOINT RESOLUTION


 
  Providing for congressional disapproval under chapter 8 of title 5, 
    United States Code, of the rule submitted by the Securities and 
Exchange Commission relating to ``Form N-PORT and Form N-CEN Reporting; 
    Guidance on Open-End Fund Liquidity Risk Management Programs''.

    Resolved by the Senate and House of Representatives of the United 
States of America in Congress assembled, That Congress disapproves the 
rule submitted by the Securities and Exchange Commission relating to 
``Form N-PORT and Form N-CEN Reporting; Guidance on Open-End Fund 
Liquidity Risk Management Programs'' (89 Fed. Reg. 73764 (September 11, 
2024)), and such rule shall have no force or effect.
                                 <all>

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