H.R. 3959Heading to a voteJobs & the economy
Bill would permanently exempt bonds from SEC's disclosure-checking rule
Data as of July 11, 2026
The bill would permanently stop SEC Rule 15c2-11's disclosure-checking requirement from applying to bonds and other fixed-income securities.40-second read · 4 questions answered below
Decoded
What does this do?
This bill would permanently stop SEC Rule 15c2-11 from applying to fixed-income securities like bonds, notes, and certificates of deposit. That rule requires brokers to confirm a company's basic financial information is public before quoting prices. The SEC had signaled it would extend the rule to bonds, and this bill blocks that through Congress instead of leaving it to SEC discretion.
Who does it affect?
It affects companies that raise money by issuing bonds or debt instruments, the brokers and dealers who trade those securities, and investors who buy them.
Why does it matter?
Businesses relying on bond markets could face fewer regulatory checks, while investor advocates may question whether this reduces the financial information available to bond buyers.
Where does it stand?
- Introduced
- House committee
- House vote — You are here
- Senate
- President's desk
Right now: it's headed for a House floor vote. If the Senate changes it, it goes back to the House before reaching the President.
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Official title
Protecting Private Job Creators Act
- Introduced:
- June 12, 2025
- Latest action:
- February 25, 2026
Placed on the Union Calendar, Calendar No. 448.
Read the official bill on Congress.govMake the call
Three steps: where you stand, your script, the call.