(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.
Referred to House Oversight and Government Reform
Committee on the Judiciary. Reported by Senator Leahy without amendment. Without written report.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 567.
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(consideration: CR S7298-7299; text as passed Senate: CR S7299)
Passed Senate without amendment by Unanimous Consent. (consideration: CR S7298-7299; text as passed Senate: CR S7299)
Message on Senate action sent to the House.
Received in the House.
Held at the desk.
Mr. Frank (MA) moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H6952-6955)
DEBATE - The House proceeded with forty minutes of debate on S. 3717.
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H6952)
Enacted as Public Law 111-257
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On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H6952)
Motion to reconsider laid on the table Agreed to without objection.
Cleared for White House.
Presented to President.
Presented to President.
Signed by President.
Signed by President.
Became Public Law No: 111-257.
Became Public Law No: 111-257.