Bill Text
111th Congress (2009-2010)
H.R.2873.RFS

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H.R.2873 -- Enhanced S.E.C. Enforcement Authority Act (Referred in Senate - RFS)

HR 2873 RFS

111th CONGRESS

1st Session

H. R. 2873

IN THE SENATE OF THE UNITED STATES

December 3, 2009

Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs

AN ACT

To provide enhanced enforcement authority to the Securities and Exchange Commission.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the `Enhanced S.E.C. Enforcement Authority Act'.

SEC. 2. NATIONWIDE SERVICE OF PROCESS.

    (a) Securities Act of 1933- Section 22(a) of the Securities Act of 1933 (15 U.S.C. 77v(a)) is amended by inserting after the second sentence the following: `In any civil action instituted by the Commission under this title in a United States district court for any judicial district, subpoenas issued to compel the attendance of witnesses or the production of documents or tangible things (or both) at any hearing or trial may be served at any place within the United States. Rule 45(c)(3)(A)(ii) of the Federal Rules of Civil Procedure does not apply to a subpoena so issued.'.

    (b) Securities Exchange Act of 1934- Section 27 of the Securities Exchange Act of 1934 (15 U.S.C. 78aa) is amended by inserting after the third sentence the following: `In any civil action instituted by the Commission under this title in a United States district court for any judicial district, subpoenas issued to compel the attendance of witnesses or the production of documents or tangible things (or both) at any hearing or trial may be served at any place within the United States. Rule 45(c)(3)(A)(ii) of the Federal Rules of Civil Procedure does not apply to a subpoena so issued.'.

    (c) Investment Company Act of 1940- Section 44 of the Investment Company Act of 1940 (15 U.S.C. 80a-43) is amended by inserting after the fourth sentence the following: `In any civil action instituted by the Commission under this title in a United States district court for any judicial district, subpoenas issued to compel the attendance of witnesses or the production of documents or tangible things (or both) at any hearing or trial may be served at any place within the United States. Rule 45(c)(3)(A)(ii) of the Federal Rules of Civil Procedure does not apply to a subpoena so issued.'.

    (d) Investment Advisers Act of 1940- Section 214 of the Investment Advisers Act of 1940 (15 U.S.C. 80b-14) is amended by inserting after the third sentence the following: `In any civil action instituted by the Commission under this title in a United States district court for any judicial district, subpoenas issued to compel the attendance of witnesses or the production of documents or tangible things (or both) at any hearing or trial may be served at any place within the United States. Rule

    45(c)(3)(A)(ii) of the Federal Rules of Civil Procedure does not apply to a subpoena so issued.'.

Passed the House of Representatives December 2, 2009.

Attest:

LORRAINE C. MILLER,

Clerk. 

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