To prohibit the Securities and Exchange Commission from compelling a person to produce or furnish algorithmic trading source code or similar intellectual property to the Commission unless the Commission first issues a subpoena, and for other purposes.
Protection of Source Code Act
This bill amends the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Investment Advisers Act of 1940 to specify that the Securities and Exchange Commission may not compel a person to produce a source code or similar intellectual property that forms the basis for design of the source code without first issuing a subpoena.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-108.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 46 - 14.
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-549.
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-549.
Placed on the Union Calendar, Calendar No. 412.
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