Congress·In Progress·H.R. 7127

Stock Trading: Removing State Rules for Private Company Shares

Restoring the Secondary Trading Market Act

Legislative Progress

House

Senate

President

Law

This bill, introduced by Meuser, would stop state governments from creating their own rules for certain types of stock trading. It focuses on "off-exchange" trading, which happens when people buy and sell shares of companies that are not listed on big markets like the New York Stock Exchange.
Right now, each state can have different laws about how these smaller or private stocks are traded. This bill would remove those state-level hurdles as long as the company involved shares basic financial details and business reports with the public.
The plan aims to make it easier for people to invest in smaller businesses by creating one set of federal rules instead of 50 different state rules. This could help smaller companies grow by making their stocks easier to trade among investors.
To keep investors safe, companies would still have to provide regular updates on their finances. This ensures that even without state oversight, people buying the stocks can still see how the company is performing before they spend their money.

3 milestones4 actions

Mar 4, 2026House

Ordered to be Reported by the Yeas and Nays: 26 - 17.

Mar 4, 2026House

Committee Consideration and Mark-up Session Held

Jan 16, 2026House

Referred to the House Committee on Financial Services.

Jan 16, 2026

Introduced in House

Document Type

Congressional Bill

Official Title

Restoring the Secondary Trading Market Act

Bill NumberHR 7127

Congress119th Congress

ChamberHouse of Representatives

Latest ActionOrdered to be Reported by the Yeas and Nays: 26 - 17.

Congress.gov

Official legislative information

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