3.0.0 5553 2023-01-11T13:32:44Z 2023-01-11T13:32:44Z House HR 2016-06-21 114 [Congressional Record Volume 162, Number 99 (Tuesday, June 21, 2016)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mrs. WAGNER:H.R. 5553.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 3The Congress shall have Power * * * To regulate Commercewith foreign Nations, and among the several States, and withthe Indian Tribes.[Page H4054]]]> hsba00 Financial Services Committee House Standing Referred to 2016-06-21T16:01:15Z 2016-06-21 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2016-06-21 Introduced in House IntroReferral Intro-H 9 Library of Congress 2016-06-21 Introduced in House IntroReferral 1000 9 Library of Congress W000812 Rep. Wagner, Ann [R-MO-2] Ann Wagner R MO 2 N Finance and Financial Sector Accounting and auditing Civil actions and liability Executive agency funding and structure Higher education Securities Securities and Exchange Commission (SEC) Student aid and college costs Finance and Financial Sector 00 2016-06-21 Introduced in House 2016-10-13T19:15:46Z This bill amends the Securities Exchange Act of 1934 to declare that fines collected for violations of the rules of the Municipal Securities Rulemaking Board shall be deposited and credited as general revenue of the Treasury.

Currently such fines must be be equally divided between the board and the Securities and Exchange Commission.

The bill repeals the requirement that any such fines collected by a registered securities association be accounted for by the association separately from certain other fines collected and be allocated two-thirds to the association and one-third to the board.

The Sarbanes-Oxley Act of 2002 is amended to repeal the requirement for the Public Company Accounting Oversight Board to use funds generated from the collection of monetary penalties for a merit scholarship program for undergraduate and graduate students enrolled in accredited accounting degree programs.

]]> To amend the Securities Exchange Act of 1934 to require fines collected for violations of the rules of the Municipal Rulemaking Board to be deposited into the Treasury and to amend the Sarbanes-Oxley Act of 2002 to remove a requirement on the use of certain funds. Display Title To amend the Securities Exchange Act of 1934 to require fines collected for violations of the rules of the Municipal Rulemaking Board to be deposited into the Treasury and to amend the Sarbanes-Oxley Act of 2002 to remove a requirement on the use of certain funds. Official Title as Introduced To amend the Securities Exchange Act of 1934 to require fines collected for violations of the rules of the Municipal Rulemaking Board to be deposited into the Treasury and to amend the Sarbanes-Oxley Act of 2002 to remove a requirement on the use of certain funds. Introduced in House IH Introduced in House 2016-06-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr5553ih/xml/BILLS-114hr5553ih.xml 2016-06-21 Referred to the House Committee on Financial Services. 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.