HR 3959

Summary

Protecting Private Job Creators Act This bill provides statutory authority for an exemption from specified disclosure requirements applicable to fixed-income securities (e.g., corporate bonds or a certificate of deposit). Under current securities regulations, brokers and dealers are generally prohibited from publishing securities quotations (i.e., the sale price) in over-the-counter (i.e., not on a national exchange) markets unless they have certain information about the securities issuer in their records. The Securities and Exchange Commission issued a series of orders (with the latest order issued in November 2024) granting an exemption to this rule to fixed-income securities that comply with specified safe-harbor rules. The bill provides statutory authority for this exemption.

Bill status

Status

Reported

Sponsor

Rep. Troy Downing [R-MT-2]

Cosponsors

7

Policy area

Finance and Financial Sector

Introduced

2025-06-12

Latest action

2026-02-25: Placed on the Union Calendar, Calendar No. 448.

Committee referrals

• Financial Services Committee: House · Reported By · 2026-02-25
• Financial Services Committee: House · Markup By · 2025-12-17
• Financial Services Committee: House · Markup By · 2025-12-16
• Financial Services Committee: House · Referred To · 2025-06-12

Recent actions

• 2026-02-25: Placed on the Union Calendar, Calendar No. 448.
• 2026-02-25: Reported (Amended) by the Committee on Financial Services. H. Rept. 119-523.
• 2026-02-25: Reported (Amended) by the Committee on Financial Services. H. Rept. 119-523.
• 2025-12-17: Ordered to be Reported (Amended) by the Yeas and Nays: 41 - 11.
• 2025-12-17: Committee Consideration and Mark-up Session Held