Government Securities Reform Act of 1993

Government Securities Reform Act of 1993 - Title I: Amendments to the Securities Exchange Act of 1934 - Amends the Securities Exchange Act of 1934 to repeal the termination date for the rulemaking authority of the Secretary of the Treasury (the Secretary) with respect to government securities (thus making such authority permanent).

Mandates that every government securities broker and dealer furnish, upon request of the Securities and Exchange Commission (SEC), all records of government securities transactions required to reconstruct trading in the course of a particular inquiry or investigation. Prohibits the SEC from using this Act to develop regular reporting requirements.

Authorizes the Secretary to prescribe reporting and recordkeeping requirements for persons who hold or control large positions in to-be-issued or recently-issued Treasury securities.

Extends to all government securities brokers and dealers and to all government securities transactions the SEC's current authority to prescribe rules to prevent fraudulent and manipulative acts and practices.

Requires every government securities dealer and broker to implement and enforce written policies and procedures to prevent fraud and manipulation. Authorizes the appropriate regulatory agency to promulgate rules designed to prevent fraud or manipulation in government securities transactions. Removes all current limitations on the ability of a registered securities association (such as the National Association of Securities Dealers, Inc., or NASD) to regulate member transactions in exempted securities other than municipal securities.

Includes within the SEC's annual status report to the Congress the progress made in promoting the timely public dissemination and availability of specified information on government securities transactions and quotations.

Mandates certain studies and reports to the Congress on specified aspects of government securities regulation, to be submitted by: (1) the Secretary, the SEC, and the Board of Governors of the Federal Reserve System acting jointly; and (2) the Comptroller General.

Prohibits false or misleading statements or omissions of fact by persons engaging in government securities transactions.

Title II: Reports on Public Debt - Amends Federal law to direct the Secretary to submit to certain congressional committees an annual public debt report on: (1) the Treasury's public debt activities; and (2) the operation of the Federal Financing Bank.

Prescribes guidelines under which, by the end of 1995, a bidder may submit a computer-generated tender to a Federal automated auction system if the bidder meets minimum Federal creditworthiness standards and agrees to comply with the system's rules and procedures.

Proscribes, with specified exceptions, the granting of any benefit upon a government securities dealer or broker in connection with the purchase upon issuance of Treasury securities if that benefit is not generally available to other such brokers or dealers.

Mandates that meetings and minutes of the Treasury Borrowing Advisory Committee of the Public Securities Association (advisory committee) be open to the public.

Prohibits: (1) the acceptance of any item of value from an advisory committee member by an officer or staffer of the Department of the Treasury, the Board of Governors of the Federal Reserve System, or any Federal reserve bank; and (2) any discussions with outsiders by advisory committee members regarding the contents of meetings closed to the public.

Mandates the permanent bar and/or removal of violators of such proscriptions from advisory committee membership. Precludes from advisory committee membership for a ten-year period any staffer of a firm of which such violator is a member.

Directs the Secretary to report annually to the Congress specified information about material violations of regulations relating to Federal securities auctions and offerings.