Act of Congress CSA Fixes Act

[YeetGlazer]

A
BILL
To

Amend the Commercial Standards Act
​

The people of the Commonwealth of Redmont, through their elected Representatives in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:

1 - Short Title
(1) This Act may be cited as the 'CSA Fixes Act'
(2) This Act shall be enacted immediately upon its signage.
(3) This Act has been authored by xSyncx & Representative YeetGlazer
(4) This Act has been co-sponsored by Senator Goldendude15

2 - Reasons
(1) The current way the CSA is written the exchange is the only Financial Institution able to both sell and buy stocks
(2) The way that this bill is written makes it so that Financial Institutions such as Vanguard may not run the Vanguard Market Access legally.

3 - Amendment to Section 18 of the Commercial Standards Act
From:

(4) Definition and Characteristics of a Stock Exchange:
(a) A Stock Exchange is the sole Financial Institution able to buy and sell securities, otherwise known as stocks.
(b) A Stock Exchange reserves the right to charge clients commissions for each transaction in order to make a profit.

To:

(4) Definition and Characteristics of a Stock Exchange:
(a) A Stock Exchange is the sole Financial Institution able to list Redmont-based securities for public trading.
(b) A Stock Exchange reserves the right to charge clients commissions for each transaction in order to make a profit.

 

[1950Minecrafter]

Presidential Assent

This bill has been granted assent and is hereby signed into law.

1950minecrafter
20th President of the Commonwealth of Redmont
Member of the WPR​