S. 855: TICKER Act

This bill requires the identification of consolidated variable interest entities on securities exchanges. Specifically, the symbol used on the exchange must identify these entities as consolidated variable interest entities. (A consolidated variable interest entity is a business structure where an investor holds a controlling interest in an entity through contractual agreements rather than having a majority of voting rights.)

In addition, the Securities and Exchange Commission must require brokers and dealers to warn investors in these entities that those investors may lack legal recourse with respect to these investments.

Written by the Congressional Research Service, Library of Congress.