Government Guaranteed Securities Acts Amendments of 1980

Government-Guaranteed Securities Acts Amendments of 1980 - Amends the Securities and Exchange Act of 1934 to establish a means for regulating trading in securities which are guaranteed by the Government National Mortgage Association, issued or guaranteed by the Federal Home Loan Mortgage Corporation, or guaranteed as to principal or interest by any other instrumentality of the United States. Authorizes the Secretary of the Treasury, in consultation with the Securities and Exchange Commission (SEC), to include other securities in which the United States has an interest within the coverage of this Act as governmental-guaranteed securities.

Requires any dealer in such securities (including an identifiable division of a bank) to register with the SEC in order to lawfully engage in interstate trading. Sets forth standards for granting, suspending, or revoking such registered status. Empowers the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Board of Directors of the Federal Deposit Insurance Corporation to impose sanctions on national banks, State member banks, and insured banks for unauthorized activities in the trading of public securities.

Directs the SEC to promulgate rules to: (1) control fraudulent, manipulative, and deceptive practices with respect to transactions in government securities; and (2) provide for the maintenance of orderly markets and prompt settlement of transactions in such securities. Stipulates that such authority of the SEC does not affect the authority of the Board of Governors of the Federal Reserve System with respect to margin requirements.

Directs the SEC to establish a seven-member Government Securities Rulemaking Board to promulgate rules governing transactions in government-guaranteed securities. Requires such rules to include regulations with respect to: (1) the qualifications of dealers; (2) procedures of the Board; (3) fraud and manipulative practices and principles of trade; (4) underwriting and selling practices including minimum profits, discounts and other fees; (5) procedures for arbitration of claims within the industry; (6) examination of dealers by the banking regulatory agencies and the National Association of Securities Dealers; (7) the form and content of quotations relating to government-guaranteed securities; (8) recordkeeping by brokers and dealers; and (9) the fees which must be paid by brokers and dealers to defray the expenses of the Board.

Requires brokers, dealers, and clearing agencies to report to the Department of the Treasury, in accordance with its rules, on their activities concerning government-guaranteed securities.

Sets forth provisions for examination, reporting, and enforcement of the Board's regulations by the SEC, the banking regulatory agencies, and the exchanges and other self-regulatory organizations.

Requires the SEC to facilitate the establishment of a national system for the clearance and settlement of transactions involving government-guaranteed securities. Directs the Secretary of the Treasury, the Federal agencies regulating financial institutions, and other Federal instrumentalities which issue or guarantee securities to coordinate their efforts with the SEC in establishing such a system.

Sets forth procedures for review by the SEC of regulations of the Board and other self-regulatory organizations with respect to government-guaranteed securities.

Enumerates the powers of the SEC with respect to the enforcement of this Act and regulations promulgated thereunder.

Requires specified reports to the Congress by the SEC and the other agencies regulating public securities dealers.

Voids contracts entered into in violation of this Act or specified implementing regulations.