A bill to amend the Securities Exchange Act of 1934 to provide for the collection and public dissemination of information concerning the holdings of and transactions in securities by institutional investors, including banks, bank holding companies, insurance companies, trust companies, investment advisers, investment companies, separate accounts, dealers, pension-benefit or profit-sharing trusts and plans, charitable endownment funds, and other funds maintained or utilized for the purpose of collective investment.
Institutional Investment Full Disclosure Act - Provides that every institutional investment manager who uses the mails, or any means or instrumentality of interstate commerce, or any facilities of a national securities exchange, directly or indirectly, to effect transactions in securities and who exercises investment discretion over any accounts having an aggregate fair market value at any time during the preceding twelve months of at least $10,000,000, and every registered dealer and exchange member with any trading or investment accounts having an aggregate fair market value at any time during the preceding twelve months of at least $5,000,000 shall file with the Securities and Exchange Commission such reports as the Commission shall prescribe as necessary or appropriate in the public interest, to assure the maintenance of fair and orderly markets, or for the protection of investors. (Amends 15 U.S.C. 78m)
Introduced in Senate
Referred to Senate Committee on Banking, Housing and Urban Affairs.
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