Support legislation requiring the Federal Reserve Board to amend Regulation T so certain equity securities with a ready market are included in the definition of an OTC margin stock.

Andrew R. Garbarino · New York · Republican

policy impact 0.35 specificity 0.83 extraction confidence 73%

Commitment kind: action. Promised action: Support and advance legislation requiring the Board of Governors of the Federal Reserve System to amend Regulation T to include certain equity securities with a ready market in the definition of an OTC margin stock.. Promised outcome: Regulation T would be amended so qualifying equity securities with a ready market are included as OTC margin stock.. Deadline: unknown; not assumed expired. Introduced in the U.S. House during the 119th Congress as H.R. 10553, the Margin Eligibility Modernization Act.

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Occurrences

Full Title To require the Board of Governors of the Federal Reserve System to amend Regulation T to include in the definition of an "OTC margin stock" certain equity securities for which there is a ready market, and for other purposes.

Garbarino introduced the Margin Eligibility Modernization Act, a bill that would require the Federal Reserve Board to amend Regulation T regarding OTC margin stock eligibility.

H.R. 10553 (IH) - Margin Eligibility Modernization Act - BILLS-119hr10553ih | Content Details | GovInfo
primary · other · model gpt-5.5

Evidence

verified · Source version 81081 · locator 1268

Mr. Garbarino introduced the following bill; which was referred to the Committee on Financial Services

Fetched verbatim passage. AI summary (separate from source): Within the 2026-09-06 to 2026-10-05 lookback window, Garbarino sponsored H.R. 10553, but the official action shows only introduction and committee referral, not enactment.

unresolved same_term A for effort

H.R. 10553 (IH) - Margin Eligibility Modernization Act - BILLS-119hr10553ih | Content Details | GovInfo
primary · model gpt-5.5 · confidence 96%

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verified · Source version 81085 · locator 212

certain equity securities for which there is a ready market

Fetched verbatim passage. AI summary (separate from source): The introduced bill text matches the commitment's substance: amending Regulation T's OTC margin stock treatment for ready-market OTC equity securities. Because it is only introduced, it is concrete effort but not final delivery.

unresolved same_term A for effort

H. R. 10553 (Introduced-in-House)
secondary · model gpt-5.5 · confidence 94%

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unverified · Source version 81087 · locator unknown

An OTC stock is not considered to be an OTC margin stock unless it appears on the Board's periodically published list of OTC margin stocks.

Unverified model/legacy excerpt; not proof. AI summary (separate from source): The current Regulation T definition still relies on the Federal Reserve Board's OTC margin stock list, supporting that the promised ready-market expansion has not yet taken effect as a rule.

unresolved same_term

eCFR :: 12 CFR 220.2 -- Definitions.
secondary · model gpt-5.5 · confidence 82%

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Assessments

Public state: pending As of 2026-10-05 · verified · . Original AI recommendation (not independently established): unresolved. same_term A for effort

Verified evidence shows Garbarino introduced H.R. 10553 and that the bill concerns certain equity securities with a ready market, matching the commitment's subject. However, the verified passages show only introduction and referral to committee, not enactment or an actual amendment to Regulation T. With no documented deadline expired as of 2026-10-05, the promise remains an attributable effort but not delivered or partially delivered.

provider codex_cli · model gpt-5.5 · confidence 94%