H.R. 7127 · Where this bill is now
Waiting for a House vote
Approved by committee Mar 25, 2026; no House vote yet
What this bill does
In plain words · AI-written from the official summaryPrevents states from blocking stock resale
Ever wondered why some people can't easily sell certain stocks they own? This bill stops states from banning or restricting off-exchange secondary trading—that's when people resell securities (like stocks) directly to each other rather than through a traditional exchange. The only condition is that the company issuing the securities has to publicly share its financial information according to federal rules.
How it affects you
If you own securities in a company that meets federal disclosure requirements, this bill would give you more freedom to resell them directly, even if your state previously restricted that kind of trading. The direct impact depends on whether you own these types of securities and whether your state has had such restrictions in place.
Read the official summary (Reported to House, Mar 25, 2026)
Restoring the Secondary Trading Market Act
This bill prohibits states from banning, limiting, or imposing conditions upon off-exchange secondary trading of securities. This prohibition applies if the issuer of those securities provides public information on the issuer's financial status in accordance with federal regulations.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
2nd SessionH. R. 7127
A BILL
Restoring the Secondary Trading Market Act
Sponsor: Rep. Daniel Meuser (R-PA-9) · Introduced Jan 16, 2026 · Finance and Financial Sector · 2 versions of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Mar 25, 2026: “Placed on the Union Calendar, Calendar No. 493.”