Restoring the Secondary Trading Market Act

HR 2506, the Restoring the Secondary Trading Market Act, prevents states from restricting off-exchange trading of securities (like buying and selling shares after the initial offering) when companies publicly disclose specific financial information. It directly affects securities issuers (companies that sell stocks) and secondary market participants (investors trading existing shares). The bill amends federal securities law to add a new exemption, blocking states from imposing conditions on such trading if issuers provide the required reports under two specific federal regulations (17 CFR 230.257 and 17 CFR 15c2-11). This creates a uniform federal standard, ensuring consistent secondary market access for publicly disclosed securities.