3.0.0 3818 2023-01-11T13:17:52Z 2023-01-11T13:17:52Z House H HR 2009-10-15 111 hsag00 Agriculture Committee House Standing Discharged from 2010-12-17T19:23:29Z Referred to 2010-12-17T04:12:00Z hsba00 Financial Services Committee House Standing Reported by 2010-12-17T04:12:00Z Markup by 2009-10-27T18:04:48Z Referred to 2009-10-15T14:00:42Z H. Rept. 111-686 Dodd-Frank Wall Street Reform and Consumer Protection Act 111 4173 HR 2010-07-21 Became Public Law No: 111-203. Related bill CRS 2010-12-17 Placed on the Union Calendar, Calendar No. 407. Calendars H12410 2 House floor actions U00407 2010-12-17 Committee on Agriculture discharged. Discharge H12300 2 House floor actions hsag00 Agriculture Committee 2010-12-17 Committee on Agriculture discharged. Committee 5500 9 Library of Congress hsag00 Agriculture Committee 2010-12-16 Reported (Amended) by the Committee on 111-686, Part I. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2010-12-16 Referred sequentially to the House Committee on Agriculture for a period ending not later than Dec. 17, 2010 for consideration of such provisions of the bill and amendment as fall within the jurisdiction of that committee pursuant to clause 1(a) of rule X. IntroReferral H11200 2 House floor actions hsag00 Agriculture Committee 2010-12-16 Reported (Amended) by the Committee on 111-686, Part I. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2009-10-27 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by the Yeas and Nays: 67 - 1. Committee 2009-10-27 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2009-10-15 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2009-10-15 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-10-15 Introduced in House IntroReferral 1000 9 Library of Congress K000008 Rep. Kanjorski, Paul E. [D-PA-11] PAUL KANJORSKI D PA E. 11 N 2009-11-13T06:00:00Z H.R. 3818, Private Fund Investment Advisers Registration Act of 2009 http://www.cbo.gov/publication/41419 <p>Cost estimate for the bill as ordered reported by the House Committee on Financial Services on October 27, 2009</p> 2009-11-13T06:00:00Z H.R. 3818, Private Fund Investment Advisers Registration Act of 2009 https://www.cbo.gov/publication/41419 Cost estimate for the bill as ordered reported by the House Committee on Financial Services on October 27, 2009 H.R.4173 https://www.congress.gov/bill/111th-congress/house-bill/4173 Finance and Financial Sector Administrative law and regulatory procedures Banking and financial institutions regulation Business records Commodity Futures Trading Commission Financial services and investments Government information and archives Licensing and registrations Securities and Exchange Commission (SEC) Finance and Financial Sector 00 2009-10-15 Introduced in House 2010-01-13T16:35:48Z Private Fund Investment Advisers Registration Act of 2009 - Amends the Investment Advisers Act of 1940 to apply registration requirements to a private fund investment adviser.

Subjects to SEC recordkeeping requirements any registered investment adviser who advises private funds. Authorizes the SEC to make such records, especially those relating to systemic risk, available to the Board of Governors of the Federal Reserve System and any other entity that has systemic risk responsibility.

Exempts venture capital fund advisers from the registration requirements of this Act. Directs the SEC to require such advisers, however, to maintain records and make annual reports to the SEC.

Modifies SEC rulemaking authority. Instructs the SEC and the Commodity Futures Trading Commission (CFTC) to promulgate rules jointly for the mandatory reports filed by certain registered investment advisers.

]]> 18 2010-12-16 Reported to House amended, Part I 2011-02-24T22:35:12Z Private Fund Investment Advisers Registration Act of 2009 - (Sec. 3) Amends the Investment Advisers Act of 1940 to repeal the exemption for, and apply registration requirements to, a private fund investment adviser.

Exempts from such registration requirements, however, any investment adviser who solely advises: (1) small business investment companies licensed under the Small Business Investment Act of 1958; (2) entities that the Small Business Administration (SBA) has notified to proceed to qualify for a license, if the notice or license has not been revoked; or (3) applicants, related to one or more licensed small business investment companies, that have a pending application for another license.

(Sec. 4) Subjects to Securities Exchange Commission (SEC) recordkeeping requirements any registered investment adviser who advises private funds. Authorizes the SEC to make such records, especially those relating to systemic risk, available to the Board of Governors of the Federal Reserve System and any other entity that has systemic risk responsibility.

(Sec. 5) Repeals the declaration that no provision of such Act shall be construed to require, or to authorize the SEC to require, any investment adviser engaged in rendering investment supervisory services to disclose the identity, investments, or affairs of any client, except insofar as such disclosure may be necessary or appropriate in a particular proceeding or investigation having as its object the enforcement of a provision or provisions of the Act. (Thus, allows interpretation of the Act to require, or authorize the SEC to require, an investment adviser to disclose the identity, investments, or affairs of any client.)

(Sec. 6) Directs the SEC to exempt from the registration requirements of this Act: (1) venture capital fund advisers; and (2) investment advisers of private funds, each of which has assets under management in the United States of less than $150 million. Directs the SEC to require such advisers, however, to maintain records and make annual reports to the SEC.

(Sec. 7) Requires the SEC, in prescribing regulations for registration of advisers to mid-sized private funds, to: (1) take into account the size, governance, and investment strategy of such funds to determine whether they pose systemic risk; and (2) provide for registration and examination procedures for such advisers which reflect the level of systemic risk posed by the funds.

(Sec. 8) Modifies SEC rulemaking authority. Authorizes the SEC to ascribe different meanings to terms, but prohibits including in the term "client" an investor in a private fund managed by an investment adviser with whom the private fund has entered into an advisory contract.

Directs the SEC and the Commodity Futures Trading Commission (CFTC) to promulgate rules jointly for the mandatory reports filed by certain registered investment advisers.

(Sec. 9) Directs the Comptroller General to assess the annual costs on industry members and their investors because of the registration requirements and ongoing reporting requirements of this Act.

(Sec. 11) Amends the Investment Advisers Act of 1940 with respect to SEC authority to exempt any person or transaction (or any class or classes of them) from certain investment advisory contract requirements to the extent that the exemption relates to an investment advisory contract with any person that the Commission determines does not need the protections of such requirements. Requires the SEC, with respect to any factor involving a dollar amount test (e.g. a net asset threshold) it uses to make such a determination, to adjust that test for inflation every five years.

]]> Private Fund Investment Advisers Registration Act of 2009 Display Title Private Fund Investment Advisers Registration Act of 2009 Official Title as Introduced To amend the Investment Advisers Act of 1940 to require advisers of certain unregistered investment companies to register with and provide information to the Securities and Exchange Commission, and for other purposes. Introduced in House IH Short Titles as Introduced Private Fund Investment Advisers Registration Act of 2009 Short Titles as Reported to House Private Fund Investment Advisers Registration Act of 2009 H House Reported in House 2010-12-17T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr3818rh/xml/BILLS-111hr3818rh.xml Introduced in House 2009-10-15T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr3818ih/xml/BILLS-111hr3818ih.xml 2010-12-17 Placed on the Union Calendar, Calendar No. 407. 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.