Sen. Phil Gramm, R-Texas, chairman of the Senate Banking Committee, is crafting a catch-all securities bill based on wish lists from organizations representing securities firms, investment advisers and regulators. Mr. Gramm is hoping to work with Democrats on the committee to introduce bipartisan legislation, according to a Republican spokeswoman for the committee.
Wish lists have come from the SEC, the North American Securities Administrators Association, the Bond Market Association, various stock exchanges and the Investment Counsel Association of America, but the committee spokeswoman declined to discuss what they want.
A draft bill could be ready by the end of the month, she said.
