H.R. 2689 — To amend the Securities Exchange Act of 1934 to transfer authorities and duties of registered national securities associations to the Securities and Exchange Commission.

This section transfers all authorities and duties provided to national securities associations (including registered national securities associations, i.e., self-regulatory organizations such as FINRA that oversee broker-dealers) under the securities laws to the SEC, effective two years after enactment. It further deems any reference in U.S. laws, regulations, documents, or records to such associations as a reference to the SEC and directs the SEC to issue implementing rules before the effective date.