3.0.0 6513 2022-02-03T05:17:29Z 2022-02-03T05:17:29Z House H HR 2008-07-16 110 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2008-09-12T15:40:17Z hsba00 Financial Services Committee House Standing Referred to 2008-07-16T14:01:50Z 2008-09-12 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2008-09-11 13:34:22 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2008-09-11 13:34:20 On motion to suspend the rules and pass the bill, as amended Agreed to without objection. (text: CR 09/09/2008 H7888-7892) Floor H37300 2 House floor actions 2008-09-11 13:34:20 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to without objection.(text: CR 09/09/2008 H7888-7892) Floor 8000 9 Library of Congress 2008-09-11 13:34:19 ORDER OF PROCEDURE - Mr. Hoyer asked unanimous consent that the motion to suspend the rules be considered as adopted in the form considered by the House on Tuesday, September 9, 2008. (consideration: CR H8025) Floor H8D000 2 House floor actions 2008-09-09 14:38:34 At the conclusion of debate, the chair put the question on the motion to suspend the rules. Mr. Ehlers objected to the vote on the grounds that a quorum was not present. Further proceedings on the motion were postponed. The point of no quorum was withdrawn. Floor H37210 2 House floor actions 2008-09-09 14:26:20 DEBATE - The House proceeded with forty minutes of debate on H.R. 6513. Floor H8D000 2 House floor actions 2008-09-09 14:26:18 Considered under suspension of the rules. (consideration: CR H7888-7893) Floor H30000 2 House floor actions 2008-09-09 14:26:00 Mr. Kanjorski moved to suspend the rules and pass the bill, as amended. Floor H30300 2 House floor actions 2008-07-16 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2008-07-16 Introduced in House IntroReferral Intro-H 9 Library of Congress 2008-07-16 Introduced in House IntroReferral 1000 9 Library of Congress K000008 Rep. Kanjorski, Paul E. [D-PA-11] PAUL KANJORSKI D PA E. 11 N B000013 Rep. Bachus, Spencer [R-AL-6] SPENCER BACHUS R AL 6 2008-07-16 True F000339 Rep. Frank, Barney [D-MA-4] BARNEY FRANK D MA 4 2008-07-16 True P000555 Rep. Pryce, Deborah [R-OH-15] DEBORAH PRYCE R OH 15 2008-07-16 True M001137 Rep. Meeks, Gregory W. [D-NY-6] GREGORY MEEKS D NY W. 6 2008-07-16 True C001064 Rep. Campbell, John [R-CA-48] John Campbell R CA 48 2008-07-16 True B001253 Rep. Bean, Melissa L. [D-IL-8] Melissa Bean D IL L. 8 2008-07-16 True D000603 Rep. Davis, Geoff [R-KY-4] Geoff Davis R KY 4 2008-07-16 True H000636 Rep. Hinojosa, Ruben [D-TX-15] RUBEN HINOJOSA D TX 15 2008-07-16 True R000580 Rep. Roskam, Peter J. [R-IL-6] Peter Roskam R IL J. 6 2008-07-16 True M001140 Rep. Moore, Dennis [D-KS-3] DENNIS MOORE D KS 3 2008-07-16 True C000243 Rep. Castle, Michael N. [R-DE-At Large] MICHAEL CASTLE R DE N. 0 2008-07-16 True S001157 Rep. Scott, David [D-GA-13] David Scott D GA 13 2008-07-16 True S001144 Rep. Shays, Christopher [R-CT-4] CHRISTOPHER SHAYS R CT 4 2008-07-16 True H001043 Rep. Hodes, Paul W. [D-NH-2] Paul Hodes D NH W. 2 2008-07-16 True C001047 Rep. Capito, Shelley Moore [R-WV-2] Shelley Capito R WV Moore 2 2008-07-16 True Finance and Financial Sector Brokers Collection of accounts Confidential communications Congress Congressional reporting requirements Congressional witnesses Crime and Law Enforcement Debtor and creditor Federal preemption Fines (Penalties) Fingerprints Futures trading Government Operations and Politics Government securities Information disclosure (Securities law) Investment advisers Investors Law Margins (Security trading) Options (Contract) Securities fraud Securities industry Securities regulation State laws Stock exchanges Subpoena Finance and Financial Sector 00 2008-07-16 Introduced in House 2008-07-29T17:05:40Z Securities Act of 2008 - Amends the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, and the Investment Company Act of 1940 to authorize the Securities and Exchange Commission (SEC) to assess and impose civil penalties in a cease and desist proceeding.

Creates a three tiers of increasing civil penalties for acts or omissions of increasing gravity.

Authorizes the SEC to censure, place limitations on the activities or functions of, or investigate any person who at the time of specified alleged misconduct was: (1) a member or employee of the the Municipal Securities Rulemaking Board; (2) a person associated or seeking to become associated with a government securities broker or dealer; (3) a person associated with a member of a national securities exchange or registered securities association; (4) a participant of a registered clearing agency; (5) an officer or director of a self-regulatory organization; and (6) an officer or director of an investment company.

Amends the Securities Act of 1933 to exempt from state regulation any warrants or rights to subscribe or purchase securities offerings.

Amends the Securities Act of 1934 and the Investment Advisers Act of 1940 to empower the SEC to bar certain persons from being associated with a broker, dealer, investment adviser, municipal securities dealer, or transfer agent who has engaged in alleged misconduct.

Amends the Securities Investor Protection Act of 1970 to extend its coverage to customers' claims against a debtor for futures contracts or options on commodities futures contracts received, acquired, or held in a portfolio margining account carried as a securities account pursuant to an approved portfolio margining program.

Requires the SEC, the Financial Accounting Standards Board, and the Public Company Accounting Oversight Board to give oral testimony annually to certain congressional committees on efforts to reduce the complexity in financial reporting to provide more accurate and clear financial information to investors.

Amends the Securities Act of 1934 to require a registered securities information processor, national securities exchange, and national securities association to submit fingerprints of their staff to the Attorney General.

Amends the Securities Act of 1934, the Investment Advisers Act of 1940, and the Investment Company Act of 1940 to revise or prescribe requirements protecting confidentiality of materials submitted to the SEC.

Amends the Securities Act of 1934 to set forth requirements governing privileged information provided by the SEC to certain governmental and foreign authorities.

Amends the Securities Act of 1933, the Securities Act of 1934, the Investment Advisers Act of 1940, and the Investment Company Act of 1940 to allow nationwide service of subpoenas, without application to the court or a showing of cause, in any action instituted by the SEC.

]]> 36 2008-09-11 Passed House amended 2008-11-25T20:37:00Z Securities Act of 2008 - (Sec. 2) Amends the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, and the Investment Company Act of 1940 to authorize the Securities and Exchange Commission (SEC) to assess and impose civil penalties in a cease and desist proceeding.

Creates three tiers of increasing civil penalties for acts or omissions of increasing gravity.

(Sec. 3) Authorizes the SEC to censure, place limitations on the activities or functions of, or investigate any person who at the time of specified alleged misconduct was: (1) a member or employee of the Municipal Securities Rulemaking Board; (2) a person associated or seeking to become associated with a government securities broker or dealer; (3) a person associated with a member of a national securities exchange or registered securities association; (4) a participant of a registered clearing agency; (5) an officer or director of a self-regulatory organization; and (6) an officer or director of an investment company.

(Sec. 5) Amends the Securities Act of 1933 to exempt from state regulation any warrants or rights to subscribe or purchase securities offerings.

(Sec. 6) Amends the Securities Act of 1934 and the Investment Advisers Act of 1940 to empower the SEC to bar certain persons from being associated with a broker, dealer, investment adviser, municipal securities dealer, or transfer agent who has engaged in alleged misconduct.

(Sec. 7) Amends the Securities Act of 1934 to modify proscriptions against the extension of credit to customers.

(Sec. 8) Amends the Securities Investor Protection Act of 1970 to extend its coverage to customers' claims against a debtor for futures contracts or options on commodities futures contracts received, acquired, or held in a portfolio margining account carried as a securities account pursuant to an approved portfolio margining program.

(Sec. 9) Requires the SEC, the Financial Accounting Standards Board, and the Public Company Accounting Oversight Board to give oral testimony annually to certain congressional committees on efforts to reduce the complexity in financial reporting and to provide more accurate and clear financial information to investors.

(Sec. 12) Amends the Securities Act of 1934 to require a registered securities information processor, national securities exchange, and national securities association to submit fingerprints of their staff to the Attorney General.

(Sec. 15) Amends the Securities Act of 1934, the Investment Advisers Act of 1940, and the Investment Company Act of 1940 to revise or prescribe requirements protecting confidentiality of materials submitted to the SEC.

(Sec. 16) Amends the Securities Act of 1934 to set forth requirements governing privileged information provided by the SEC to certain governmental and foreign authorities.

(Sec. 18) Sets forth conforming amendments for repeal of the Public Utility Holding Company Act of 1935.

(Sec. 19) Amends the Securities Act of 1933, the Securities Act of 1934, the Investment Advisers Act of 1940, and the Investment Company Act of 1940 to allow nationwide service of subpoenas in any action instituted by the SEC, without application to the court or a showing of cause.

]]> Securities Act of 2008 Short Titles as Introduced Securities Act of 2008 Short Titles as Passed House Securities Act of 2008 H House Official Title as Introduced To amend the Federal securities laws to enhance the effectiveness of the Securities and Exchange Commission's enforcement, corporation finance, trading and markets, investment management, and examination programs, and for other purposes. Display Title Securities Act of 2008 Referred in Senate 2008-09-12T04:00:00Z Engrossed in House 2008-09-11T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr6513eh/xml/BILLS-110hr6513eh.xml Introduced in House 2008-07-16T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr6513ih/xml/BILLS-110hr6513ih.xml 2008-09-12 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.