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S 3717 - 111

A bill to amend the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Investment Advisers Act of 1940 to provide for certain disclosures under section 552 of title 5, United States Code, (commonly referred to as the Freedom of Information Act), and for other purposes.

Became Public Law No: 111-257.

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Affected Sectors

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Finance and banking
3 evidence matches
Impact 100% Confidence 90%

Finance and Financial Sector

A bill to amend the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Investment Advisers Act of 1940 to provide for certain disclosures under section 552 of title 5, United States Code, (commonly referred to as t

s Act of 1940 to provide for certain disclosures under section 552 of title 5, United States Code, (commonly referred to as the Freedom of Information Act), and for other purposes. Became Public Law No: 111-257. Finance and Financial Sector

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Summary

80 Reported to Senate without amendment Feb 24, 2020

(This measure has not been amended since it was introduced. The summary of that version is repeated here.) Amends the Securities Exchange Act of 1934 to repeal the prohibition of the Dodd-Frank Wall Street Reform and Consumer Protection Act against compelling the Securities and Exchange Commission (SEC) to disclose records or information obtained from registered persons pursuant to its regulatory or oversight activities. Declares that for purposes of the Freedom of Information Act (FOIA): (1) the SEC is an agency responsible for the regulation or supervision of financial institutions; and (2) any entity for which the SEC is the responsible regulator, supervisor, or examiner under such Act is a financial institution. (Thus retains the general exemption from FOIA of matters contained in or related to examination, operating, or condition reports prepared by, on behalf of, or for the use of the SEC and any other agency responsible for the regulation or supervision of financial institutions.) Amends the Investment Company Act and the Investment Advisers Act to repeal similar prohibitions against compelling the SEC to disclose records or information provided to it by a registered investment company or investment adviser, or an underwriter, broker, dealer, or investment adviser that is a majority-owned subsidiary of such a company, for SEC use in furtherance of certain purposes, including surveillance, risk assessments, or other regulatory and oversight activities.

49 Public Law Dec 14, 2010

(This measure has not been amended since it was introduced. The summary of that version is repeated here.) Amends the Securities Exchange Act of 1934 to repeal the prohibition of the Dodd-Frank Wall Street Reform and Consumer Protection Act against compelling the Securities and Exchange Commission (SEC) to disclose records or information obtained from registered persons pursuant to its regulatory or oversight activities. Declares that for purposes of the Freedom of Information Act (FOIA): (1) the SEC is an agency responsible for the regulation or supervision of financial institutions; and (2) any entity for which the SEC is the responsible regulator, supervisor, or examiner under such Act is a financial institution. (Thus retains the general exemption from FOIA of matters contained in or related to examination, operating, or condition reports prepared by, on behalf of, or for the use of the SEC and any other agency responsible for the regulation or supervision of financial institutions.) Amends the Investment Company Act and the Investment Advisers Act to repeal similar prohibitions against compelling the SEC to disclose records or information provided to it by a registered investment company or investment adviser, or an underwriter, broker, dealer, or investment adviser that is a majority-owned subsidiary of such a company, for SEC use in furtherance of certain purposes, including surveillance, risk assessments, or other regulatory and oversight activities.

82 Passed Senate without amendment Oct 1, 2010

(This measure has not been amended since it was introduced. The summary of that version is repeated here.) Amends the Securities Exchange Act of 1934 to repeal the prohibition of the Dodd-Frank Wall Street Reform and Consumer Protection Act against compelling the Securities and Exchange Commission (SEC) to disclose records or information obtained from registered persons pursuant to its regulatory or oversight activities. Declares that for purposes of the Freedom of Information Act (FOIA): (1) the SEC is an agency responsible for the regulation or supervision of financial institutions; and (2) any entity for which the SEC is the responsible regulator, supervisor, or examiner under such Act is a financial institution. (Thus retains the general exemption from FOIA of matters contained in or related to examination, operating, or condition reports prepared by, on behalf of, or for the use of the SEC and any other agency responsible for the regulation or supervision of financial institutions.) Amends the Investment Company Act and the Investment Advisers Act to repeal similar prohibitions against compelling the SEC to disclose records or information provided to it by a registered investment company or investment adviser, or an underwriter, broker, dealer, or investment adviser that is a majority-owned subsidiary of such a company, for SEC use in furtherance of certain purposes, including surveillance, risk assessments, or other regulatory and oversight activities.

81 Passed House without amendment Oct 1, 2010

(This measure has not been amended since it was introduced. The summary of that version is repeated here.) Amends the Securities Exchange Act of 1934 to repeal the prohibition of the Dodd-Frank Wall Street Reform and Consumer Protection Act against compelling the Securities and Exchange Commission (SEC) to disclose records or information obtained from registered persons pursuant to its regulatory or oversight activities. Declares that for purposes of the Freedom of Information Act (FOIA): (1) the SEC is an agency responsible for the regulation or supervision of financial institutions; and (2) any entity for which the SEC is the responsible regulator, supervisor, or examiner under such Act is a financial institution. (Thus retains the general exemption from FOIA of matters contained in or related to examination, operating, or condition reports prepared by, on behalf of, or for the use of the SEC and any other agency responsible for the regulation or supervision of financial institutions.) Amends the Investment Company Act and the Investment Advisers Act to repeal similar prohibitions against compelling the SEC to disclose records or information provided to it by a registered investment company or investment adviser, or an underwriter, broker, dealer, or investment adviser that is a majority-owned subsidiary of such a company, for SEC use in furtherance of certain purposes, including surveillance, risk assessments, or other regulatory and oversight activities.

00 Introduced in Senate Sep 23, 2010

Amends the Securities Exchange Act of 1934 to repeal the prohibition of the Dodd-Frank Wall Street Reform and Consumer Protection Act against compelling the Securities and Exchange Commission (SEC) to disclose records or information obtained from registered persons pursuant to its regulatory or oversight activities. Declares that for purposes of the Freedom of Information Act (FOIA): (1) the SEC is an agency responsible for the regulation or supervision of financial institutions; and (2) any entity for which the SEC is the responsible regulator, supervisor, or examiner under such Act is a financial institution. (Thus retains the general exemption from FOIA of matters contained in or related to examination, operating, or condition reports prepared by, on behalf of, or for the use of the SEC and any other agency responsible for the regulation or supervision of financial institutions.) Amends the Investment Company Act and the Investment Advisers Act to repeal similar prohibitions against compelling the SEC to disclose records or information provided to it by a registered investment company or investment adviser, or an underwriter, broker, dealer, or investment adviser that is a majority-owned subsidiary of such a company, for SEC use in furtherance of certain purposes, including surveillance, risk assessments, or other regulatory and oversight activities.

Sponsors

Timeline

Oct 5, 2010

Signed by President.

Oct 5, 2010

Signed by President.

Oct 5, 2010

Became Public Law No: 111-257.

Oct 5, 2010

Became Public Law No: 111-257.

Sep 24, 2010

Presented to President.

Sep 24, 2010

Presented to President.

Sep 23, 2010

Mr. Frank (MA) moved to suspend the rules and pass the bill.

Sep 23, 2010

Considered under suspension of the rules. (consideration: CR H6952-6955)

Sep 23, 2010

DEBATE - The House proceeded with forty minutes of debate on S. 3717.

Sep 23, 2010

Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H6952)

Sep 23, 2010

On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H6952)

Sep 23, 2010

Motion to reconsider laid on the table Agreed to without objection.

Sep 23, 2010

Cleared for White House.

Sep 22, 2010

Message on Senate action sent to the House.

Sep 22, 2010

Received in the House.

Sep 22, 2010

Held at the desk.

Sep 21, 2010

Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(consideration: CR S7298-7299; text as passed Senate: CR S7299)

Sep 21, 2010

Passed Senate without amendment by Unanimous Consent. (consideration: CR S7298-7299; text as passed Senate: CR S7299)

Sep 16, 2010

Committee on the Judiciary. Ordered to be reported without amendment favorably.

Sep 16, 2010

Committee on the Judiciary. Reported by Senator Leahy without amendment. Without written report.

Sep 16, 2010

Committee on the Judiciary. Reported by Senator Leahy without amendment. Without written report.

Sep 16, 2010

Placed on Senate Legislative Calendar under General Orders. Calendar No. 567.

Aug 5, 2010

Introduced in Senate

Aug 5, 2010

Sponsor introductory remarks on measure. (CR S6889, S6889-6890)

Aug 5, 2010

Read twice and referred to the Committee on the Judiciary. (text of measure as introduced: CR S6889)

House Votes

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Amendments

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