A bill to amend the Securities Exchange Act of 1934 to authorize the Securities and Exchange Commission to subject banks, associations, and other entities that exercise fiduciary powers, to the same regulations as broker-dealers, pursuant to section 14(b) of the Securities Exchange Act of 1934.
Shareholder Communications Act of 1985 - Amends the Securities Exchange Act of 1934 to subject banks, associations, and other entities that exercise fiduciary powers to Securities and Exchange Commission regulations with respect to giving or refraining from giving a proxy, consent, or authorization in respect of any registered security carried for the account of a customer. Prohibits such regulations from requiring banks to disclose the names of beneficial owners of securities held in bank accounts without such owner's consent, provided the banks make a good faith effort to obtain such consent.
Returned to the Calendar. Calendar No. 486.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended).
Reported to House (Amended) by House Committee on Energy and Commerce. Report No: 99-181.
Reported to House (Amended) by House Committee on Energy and Commerce. Report No: 99-181.
Placed on Union Calendar No: 124.
Called up by House Under Suspension of Rules.
Passed/agreed to in House: Passed House (Amended) by Voice Vote.
Passed House (Amended) by Voice Vote.
Received in the Senate and read twice and referred to the Committee on Banking.
Senate Committee on Banking discharged by Unanimous Consent.
Senate Committee on Banking discharged by Unanimous Consent.
Passed/agreed to in Senate: Passed Senate without amendment by Voice Vote.
Enacted as Public Law 99-222
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Passed Senate without amendment by Voice Vote.
Measure Signed in Senate.
Presented to President.
Presented to President.
Signed by President.
Signed by President.
Became Public Law No: 99-222.
Became Public Law No: 99-222.