Bill Text
111th Congress (2009-2010)
H.R.2623.RFS
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HR 2623 RFS
July 30, 2009
Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs
- Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. FORMERLY ASSOCIATED PERSONS.
- (a) Member or Employee of the Municipal Securities Rulemaking Board- Section 15B(c)(8) of the Securities Exchange Act of 1934 (15 U.S.C. 78o-4(c)(8)) is amended by striking `any member or employee' and inserting `any person who is, or at the time of the alleged misconduct was, a member or employee'.
- (b) Person Associated With a Government Securities Broker or Dealer- Section 15C of the Securities Exchange Act of 1934 (15 U.S.C. 78o-5) is amended--
- (1) in subsection (c)(1)(C), by striking `or seeking to become associated,' and inserting `seeking to become associated, or, at the time of the alleged misconduct, associated or seeking to become associated';
- (2) in subsection (c)(2)(A), by inserting `, seeking to become associated, or, at the time of the alleged misconduct, associated or seeking to become associated' after `any person associated'; and
- (3) in subsection (c)(2)(B), by inserting `, seeking to become associated, or, at the time of the alleged misconduct, associated or seeking to become associated' after `any person associated'.
- (c) Person Associated With a Member of a National Securities Exchange or Registered Securities Association- Section 21(a)(1) of the Securities Exchange Act of 1934 (15 U.S.C. 78u(a)(1)) is amended by inserting `, or, as to any act or practice, or omission to act, while associated with a member, formerly associated' after `member or a person associated'.
- (d) Participant of a Registered Clearing Agency- Section 21(a)(1) of the Securities Exchange Act of 1934 (15 U.S.C. 78u(a)(1)) is amended by inserting `or, as to any act or practice, or omission to act, while a participant, was a participant,' after `in which such person is a participant,'.
- (e) Officer or Director of a Self-regulatory Organization- Section 19(h)(4) of the Securities Exchange Act of 1934 (15 U.S.C. 78s(h)(4)) is amended--
- (1) by striking `any officer or director' and inserting `any person who is, or at the time of the alleged misconduct was, an officer or director'; and
- (2) by striking `such officer or director' and inserting `such person'.
- (f) Officer or Director of an Investment Company- Section 36(a) of the Investment Company Act of 1940 (15 U.S.C. 80a-35(a)) is amended--
- (1) by striking `a person serving or acting' and inserting `a person who is, or at the time of the alleged misconduct was, serving or acting'; and
- (2) by striking `such person so serves or acts' and inserting `such person so serves or acts, or at the time of the alleged misconduct, so served or acted'.
Passed the House of Representatives July 29, 2009.
Attest:
LORRAINE C. MILLER,
Clerk.
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