SECURITIES see also Investments
Amendments
CFTC: reauthorize to protect futures customers, make reforms to ensure transparency and accountability, and provide end users with market certainty and risk management to keep costs low (H.R. 4413), H5624, H5629, H5631, H5632, H5634, H5635, H5636 [23JN]
Financial institutions: clarify application of certain leverage and risk-based capital requirements (S. 2270), S3382, S3383 [3JN]
Articles and editorials
Barney Frank Criticizes Planned Rollback of Namesake Financial Law, H9068 [11DE]
GOP ‘Cost-Benefit’ Bill Benefits Wall Street and Costs Americans, H5633 [23JN]
Whatever Happened to ‘‘Every Man a King?’’, S5300 [31JY]
Bills and resolutions
American Infrastructure Fund: establish to provide loans or guarantees to State or local governments for qualified infrastructure projects (see S. 1957), S439 [16JA]
Budget: clarify that the standard setting body designated pursuant to the Securities Act, Securities Investor Protection Corp., and Public Accounting Oversight Board funding is not subject to the sequester (see H.R. 4270), H2484 [14MR]
Business and industry: affirm private equity plays an important role in growing and strengthening U.S. businesses and that it has fostered significant investment in the U.S. economy (see H. Res. 702), H7184 [31JY]
——— ensure that the treatment of illiquid swaps does not disadvantage certain non-financial end users who use them to manage business risk (see H.R. 4330), H2743 [27MR]
CFTC: align exemptions for general solicitation of investment in commodity pools similar to the exemption provided for general solicitation of securities under the Jumpstart Our Business Startups Act (see H.R. 4392), H2913 [3AP]
——— impose fees and assessments to recover the cost of appropriations to the Commission (see H.R. 5490), H7617 [16SE]
——— improve futures and swaps trading (see S. 2330), S2953 [13MY]
——— prevent manipulation of physical commodities prices (see S. 3013), S6788 [12DE]
——— reauthorize to protect futures customers, make reforms to ensure transparency and accountability, and provide end users with market certainty and risk management to keep costs low (see H.R. 4413), H2990 [7AP]
——— reauthorize to protect futures customers, make reforms to ensure transparency and accountability, and provide end users with market certainty and risk management to keep costs low (H.R. 4413), consideration (see H. Res. 629), H5493 [18JN]
——— require the de minimis quantity of swap dealing needed to qualify for exemption from designation as a swap dealer to be changed by a vote of the CFTC (see H.R. 3814), H20 [7JA]
——— specify how clearing requirements apply to certain affiliate transactions (see S. 2976), S6350 [4DE] (see H.R. 5471), H7528 [15SE]
——— take certain actions to reduce excessive speculation in energy markets (see S. 2548), S4153 [26JN] (see H.R. 4996), H5817 [26JN]
Commodity Exchange Act: ensure futures commission merchant compliance (see S. 2601), S4502 [15JY]
Dept. of the Treasury: establish U.S. Employee Ownership Bank (see S. 2411), S3341 [2JN]
——— issue Transportation Bonds to fund transportation projects in each State (see H.R. 4945), H5723 [24JN]
Dept. of Transportation: provide States with greater flexibility in innovative highway financing (see S. 2051), S1233 [27FE]
Economy: create jobs by revising Federal labor laws, decreasing regulatory burdens, providing comprehensive energy reform, and streamlining access to investment capital (see H.R. 4304), H2695 [26MR]
Federal aid programs: encourage and support partnerships between the public and private sectors to improve our nation’s social programs (see S. 2691), S5134 [30JY] (see H.R. 4885), H5493 [18JN]
Financial institutions: allow mutual capital certificates to satisfy capital requirements for mutual depositories and establish mutual national banks (see H.R. 4252), H2483 [14MR]
——— clarify application of certain leverage and risk-based capital requirements (see S. 2102), S1416 [10MR] (see S. 2270), S2470 [29AP] (see H.R. 4510), H3291 [29AP]
——— clarify application of certain leverage and risk-based requirements and improve definitions of points and fees for mortgage transactions (see H.R. 5461), H7528 [15SE]
——— clarify that prohibitions on investments in certain funds shall not be construed to require divestiture of certain collateralized debt obligations backed by trust-preferred securities (see S. 1907, 1912), S223 [9JA] (see H.R. 3819), H72 [8JA]
——— exclude certain debt securities of collateralized loan obligations from the prohibition against acquiring or retaining an ownership interest in a hedge fund or private equity fund (see H.R. 4167), H2255 [6MR]
Government regulations: amend securities laws to improve private market offerings (see H.R. 4554), H3407 [1MY]
Green Bank: establish to assist in financing of qualified clean energy and energy efficiency projects (see S. 2271), S2566 [30AP] (see H.R. 4522), H3363 [30AP]
Jumpstart Our Business Startups Act: improve crowdfunding provisions (see H.R. 4564), H3445 [6MY]
Lobbyists: require disclosure of political intelligence activities and restrict former employees and officials of executive and legislative branches relative to political intelligence contacts (see H.R. 5525), H7881 [18SE]
Pensions: require plans to establish policies on firm-specific risks in asset management services, greater diversification in investment strategies, and inclusion of diverse asset managers and minority brokerage firms (see H.R. 5877), H9303 [11DE]
Power resources: promote domestic development and deployment of clean energy technologies (see H.R. 4426), H3057 [8AP]
Public works: require public construction and infrastructure projects to use U.S. iron, steel, wood, cement, and manufactured goods, establish American Star Program, and extend Build America Bonds program (see S. 2682), S5051 [29JY]
SEC: clarify definition of general solicitation under Federal securities law as not applying to events like demo days (see S. 2498), S3863 [19JN] (see H.R. 4915), H5557 [19JN]
——— extend statute of limitations for certain securities law violations (see S. 2868), S5782 [18SE]
——— improve form 10-K and regulation S-K (see H.R. 4569), H3446 [6MY]
——— improve small company capital formation laws (see H.R. 4565), H3445 [6MY]
——— modify disclosures to investors in municipal and corporate debt securities (see S. 2114), S1584 [12MR]
——— provide for a notice-filing registration procedure for brokers participating in the transfer of ownership of smaller companies and provide appropriate regulation of such transfers (see S. 1923), S325 [14JA]
——— provide smaller public companies with access to capital-raising advantages by eliminating excessive filing requirements and expediting stock registration (see H.R. 4568), H3446 [6MY]
——— revise definition of a well-known seasoned issuer to reduce worldwide market value threshold under the definition (see H.R. 4697), H4783 [21MY]
——— revise regulation D relative to exemptions from registration requirements for certain sales of securities (see H.R. 4570), H3446 [6MY]
——— revise rules to increase threshold amount for requiring issuers to provide certain disclosures relative to compensatory benefit plans (see H.R. 4571), H3446 [6MY]
Taxation: exclude from gross income compensation received by employees consisting of qualified distributions of employer stock (see H.R. 4089), H1937 [25FE]
——— exempt certain stock of real estate investment trusts from the tax on foreign investment in U.S. real property interests (see H.R. 5487), H7617 [16SE]
——— expand and make permanent rules relative to investment by nonresident aliens in domestic mutual funds (see H.R. 4555), H3407 [1MY]
——— expand availability of employee stock ownership plans in S corporations (see H.R. 4837), H5318 [11JN]
——— expand certain exceptions to private activity bond rules for first-time farmers (see H.R. 4757), H5022 [29MY]
——— extend qualified zone academy bonds and reduce the private business contribution requirement with respect to such bonds (see H.R. 5347), H7182 [31JY]
——— increase the national limitation amount for qualified highway or surface freight transfer facility bonds (see S. 2050), S1233 [27FE]
——— make permanent certain rules regarding basis adjustments to stock of S corporations making charitable contributions of property (see H.R. 4454), H3195 [10AP]
——— modify certain rules applicable to qualified small issue manufacturing bonds (see H.R. 5319), H7181 [31JY]
——— permanently extend the tax treatment for certain Build America Bonds (see S. 2203), S2161 [3AP]
——— permanently extend the tax treatment for certain Build America Bonds and provide recovery zone economic development bonds for certain cities (see H.R. 5330), H7182 [31JY]
——— permanently modify limitations on deduction of interest by financial institutions which hold tax-exempt bonds (see H.R. 5199), H6814 [24JY]
——— provide an exception for certain public-private research arrangements from the business use test for purposes of determining private activity bonds (see H.R. 5829), H9044 [10DE]
——— provide that the volume cap for private activity bonds shall not apply to bonds for facilities for the furnishing of water and sewage facilities (see S. 2345), S3074 [15MY] (see H.R. 4237), H2432 [13MR]
——— reform estate and gift taxes (see H.R. 4061), H1776 [14FE]
U.S. Cotton Futures Act: modify definition of cotton futures contracts (see S. 2984), S6350 [4DE] (see H.R. 5810), H8868 [8DE]
Wall Street Reform and Consumer Protection Act: establish application process for interested parties to apply for a county to be designated as a rural area (see S. 1916), S325 [14JA]
Letters
Capital Access for Small Community Financial Institutions Act, Credit Union Share Insurance Fund Parity Act, and CFPB Rural Designation Petition and Correction Act: Bill Cheney, Credit Union National Association, H3427 [6MY]
Clarify application of certain leverage and risk-based requirements and improve definitions of points and fees for mortgage transactions: several trade associations, H7513 [15SE]
Customer Protection and End User Relief Act: Alexander M. Cutler, Business Roundtable (organization), E1101 [3JY]
——— Americans for Financial Reform (organization), H5620 [23JN]
——— Amit Narang and Bartlett Naylor, Public Citizen (organization), H5615 [23JN]
——— Andy Blocker, Securities Industry and Financial Markets Association (SIFMA), E1103 [3JY]
——— Coalition for Derivatives End-Users, E1100 [3JY]
——— Dan Gilligan, Petroleum Marketers Association of America and Michael C. Trunzo, New England Fuel Institute, H5617 [23JN]
——— Dorothy Coleman, National Association of Manufacturers, E1102 [3JY]
——— Jo Ann Emerson, National Rural Electric Cooperative Association, E1102 [3JY]
——— Micah Hauptman and Barbara Roper, Consumer Federation of America, H5615 [23JN]
——— R. Bruce Josten, U.S. Chamber of Commerce, E1100 [3JY]
——— Representative Goodlatte, Committee on the Judiciary (House), H5613 [23JN]
——— Representative Lucas, Committee on Agriculture (House), H5613 [23JN]
——— several production agriculture and agribusiness organizations, E1103 [3JY]
——— Steve Suppan, Institute for Agriculture and Trade Policy, H5618–H5620 [23JN]
——— Susan N. Kelly, American Public Power Association, E1101 [3JY]
——— Thomas R. Kuhn, Edison Electric Institute, E1103 [3JY]
——— William Funk, Richard Murphy, and Thomas O. McGarity, Center for Progressive Reform (organization), H5621 [23JN]
Insurance Capital Standards Clarification Act: Senator Collins, S2473 [29AP]
No-action relief from clearing requirement for swaps entered into by eligible Treasury affiliates: Phyllis Dietz, CFTC, H8241–H8244 [2DE]
Regulation D Study Act: Jim Nussle, Credit Union National Association, H8245 [2DE]
Restoring Proven Financing for American Employers Act: Camden R. Fine, Independent Community Bankers of America (organization), H3258 [29AP]
Lists
Americans for Financial Reform (organization) members, H5622 [23JN]
Organizations supporting Jackson Lee amendment to H.R. 4413, Customer Protection and End User Relief Act, on preserving existing law requiring legal challenge to CFTC regulation be first reviewed by the district court, H5635 [23JN]
Motions
CFTC: reauthorize to protect futures customers, make reforms to ensure transparency and accountability, and provide end users with market certainty and risk management to keep costs low (H.R. 4413), H5663 [24JN]
Press releases
Customer Protection and End User Relief Act: Dennis Kelleher, Better Markets (organization), H5616 [23JN]
House Passes Faleomavaega Bill To Provide ASG Authority To Issue Bonds Exempt From State and Local Taxation: Delegate Faleomavaega (2003), E1695 [2DE]
Senate Passes Faleomavaega’s Bill To Develop American Samoa’s Economy by Providing ASG With Authority To Issue Bonds Exempt From Taxation: Delegate Faleomavaega (2004), E1695 [2DE]
Remarks in House
American Infrastructure Fund: establish to provide loans or guarantees to State or local governments for qualified infrastructure projects, H6236 [15JY]
——— establish to provide loans or guarantees to State or local governments for qualified infrastructure projects (H.R. 2084), H2737 [27MR]
Business and industry: provide for an optional pilot program allowing certain emerging growth companies to increase the tick sizes of their stocks (H.R. 3448), H1746–H1748 [11FE]
CFTC: align exemptions for general solicitation of investment in commodity pools similar to the exemption provided for general solicitation of securities under the Jumpstart Our Business Startups Act (H.R. 4392), E512 [3AP]
——— conduct study to determine whether high-frequency trading increases market volatility, H5629 [23JN]
——— ensure that the assessment of costs and benefits regarding rules and orders will be affirmed by a court unless that assessment is found to be an abuse of discretion, H5631 [23JN]
——— exempt registered investment companies (RICs) from duplicative registration and regulatory requirements when such companies are currently registered with and regulated by the SEC, H5636, H5637 [23JN]
——— improve consideration of costs and benefits of regulations and orders (H.R. 1003), H5509 [19JN]
——— preserve existing law requiring legal challenge to regulation be first reviewed by the district court, H5634, H5635 [23JN]
——— prohibit judicial review of any consideration of the costs and benefits of its rules and orders, H5631, H5632 [23JN]
——— provide equal treatment for utility special entities using utility operations-related swaps, H5622 [23JN]
——— reauthorize to protect futures customers, make reforms to ensure transparency and accountability, and provide end users with market certainty and risk management to keep costs low (H.R. 4413), H5592 [20JN], H5612–H5638 [23JN], H5659–H5665 [24JN], H8990 [10DE], E1061 [24JN]
——— reauthorize to protect futures customers, make reforms to ensure transparency and accountability, and provide end users with market certainty and risk management to keep costs low (H.R. 4413), consideration (H. Res. 629), H5508–H5513 [19JN]
——— reauthorize to protect futures customers, make reforms to ensure transparency and accountability, and provide end users with market certainty and risk management to keep costs low (H.R. 4413), corrections in engrossment, H5612 [23JN]
——— reauthorize to protect futures customers, make reforms to ensure transparency and accountability, and provide end users with market certainty and risk management to keep costs low (H.R. 4413), motion to recommit, H5663, H5664 [24JN]
——— require a report on number of entities regulated, their size, practice models, and managed assets, H5629–H5631 [23JN]
——— require the costs and benefits be considered when promulgating rules and issuing orders, H5633, H5634 [23JN]
——— specify how clearing requirements apply to certain affiliate transactions (H.R. 5471), H8240–H8244 [2DE]
——— take certain actions to reduce excessive speculation in energy markets, H5663, H5664 [24JN]
Dept. of the Interior: direct certain revenue from increasing energy exploration and production and streamlining energy permitting to CFTC to limit excessive speculation in energy markets, H5797, H5798 [26JN]
Financial institutions: clarify application of certain leverage and risk-based capital requirements, H7510–H7515 [15SE]
——— clarify application of certain leverage and risk-based capital requirements (H.R. 4510), E1796 [12DE]
——— clarify application of certain leverage and risk-based capital requirements (S. 2270), H9019 [10DE], E975 [12JN]
——— clarify application of certain leverage and risk-based requirements and improve definitions of points and fees for mortgage transactions (H.R. 5461), H7508–H7515 [15SE], E1423 [16SE], E1469 [19SE]
——— exclude certain debt securities of collateralized loan obligations from the prohibition against acquiring or retaining an ownership interest in a hedge fund or private equity fund, H7511 [15SE]
——— exclude certain debt securities of collateralized loan obligations from the prohibition against acquiring or retaining an ownership interest in a hedge fund or private equity fund (H.R. 4167), H3257–H3261 [29AP]
——— make shareholder registration threshold for savings and loan holding companies the same as for bank holding companies (H.R. 801), H196–H200 [14JA]
——— provide a process to allow financial institutions to go bankrupt (S. 1861), H8179 [1DE]
——— revise certain regulations governing financial assistance for swaps entities, H9067–H9074, H9277, H9279, H9284, H9285 [11DE]
GAO: conduct a study on the impact of the requirement that depository institutions maintain certain reserves and Regulation D relative to exemptions from SEC registration requirements (H.R. 3240), H188 [14JA], H8244–H8246 [2DE]
Government regulations: provide end user exemptions for certain derivative sales, H7512 [15SE], H8963–H8966, H8986, H8988, H8990 [10DE]
Investments: provide a registration exemption for private equity fund advisers, H7814 [18SE]
——— provide a registration exemption for private equity fund advisers (H.R. 1105), H7110 [30JY]
Permanent Court of Arbitration: ruling that Russia violated the Energy Charter Treaty when it expropriated Yukos Oil Co., assets, E1469 [19SE]
Power resources: limit release of toxic air pollutants from petroleum coke, prohibit oil and natural gas exports to countries that support terrorist organizations, and allow CFTC actions to limit excessive speculation in energy markets, H7853 [18SE]
SEC: funding, H6203, H6204 [14JY]
——— improve form 10-K and regulation S-K (H.R. 4569), H8258–H8260 [2DE]
——— modify Municipalities Continuing Disclosure Cooperation Initiative self-reporting requirements, H6316 [16JY]
——— prohibit funding to study, promulgate, draft, review, implement, and enforce new standards of conduct for brokers, dealers, and investment advisers, H6322, H6323 [16JY]
——— protect retail customers from differing standards of conduct for brokers and investment advisers and confusion from rule changes (H.R. 2374), H7110 [30JY]
——— provide for a notice-filing registration procedure for brokers participating in the transfer of ownership of smaller companies and provide appropriate regulation of such transfers (H.R. 2274), H192–H196 [14JA]
——— require certain investment advisers to pay fees to help cover the costs of inspecting and examining investment advisers, H6207 [14JY]
——— revise proposed rule to impose floating net asset value on certain money market funds, H6267, H6268 [15JY]
——— revise regulation D relative to exemptions from registration requirements for certain sales of securities (H.R. 4570), E1827 [12DE]
——— revise rules to increase threshold amount for requiring issuers to provide certain disclosures relative to compensatory benefit plans, H7501 [15SE]
——— update and improve cybersecurity disclosure guidance, H6179, H6180 [14JY]
Taxation: make permanent certain rules regarding basis adjustments to stock of S corporations making charitable contributions of property (H.R. 4454), H5260 [11JN]
——— provide for comprehensive tax reform (H.R. 1), E1800 [12DE]
——— rates, H2012 [27FE]
——— reform estate and gift taxes, E203 [11FE]
U.S. Cotton Futures Act: modify definition of cotton futures contracts (H.R. 5810), H9015, H9016 [10DE]
Wall Street Reform and Consumer Protection Act: adopt rules setting forth the application to cross-border swaps transactions of certain provisions relating to swaps, H5614, H5617 [23JN]
——— adopt rules setting forth the application to cross-border swaps transactions of certain provisions relating to swaps (H.R. 1256), H5509 [19JN]
——— establish application process for interested parties to apply for a county to be designated as a rural area (H.R. 2672), H3420–H3422 [6MY], H3950 [8MY]
Remarks in Senate
American Infrastructure Fund: establish to provide loans or guarantees to State or local governments for qualified infrastructure projects (S. 1957), S3447 [5JN]
CFTC: improve futures and swaps trading (S. 2330), S2955 [13MY]
——— prevent manipulation of physical commodities prices (S. 3013), S6896 [16DE]
——— provide for greater regulation of high frequency trading of commodities futures and greater protection for derivatives traders and trading facilities, S1915 [1AP]
——— specify how clearing requirements apply to certain affiliate transactions (H.R. 5471), S6581 [10DE]
——— specify how clearing requirements apply to certain affiliate transactions (S. 2976), S6351 [4DE]
——— take certain actions to reduce excessive speculation in energy markets (S. 2548), S4158–S4160 [26JN]
Economy: jump-start economic recovery through formation and growth of new businesses, S313 [14JA], S1907 [1AP], S2063 [2AP]
Financial institutions: clarify application of certain leverage and risk-based capital requirements (S. 2270), S2471 [29AP], S3383 [3JN], S6530, S6531 [10DE]
——— revise certain regulations governing financial assistance for swaps entities, S6488, S6510, S6532 [10DE], S6601, S6660 [11DE], S6721, S6722, S6749 [12DE], S6810 [13DE]
FRS: reform monetary policy to promote economic growth and minimize risk, S12 [6JA], S59, S66 [7JA]
Infrastructure Financing Authority: establish (S. 1716), S3447 [5JN], S4726 [23JY]
National objectives: economic recovery, S6255–S6257 [2DE]
SEC: extend statute of limitations for certain securities law violations (S. 2868), S5788 [18SE]
Taxation: expand availability of employee stock ownership plans in corporations, S5300 [31JY]
Wall Street Reform and Consumer Protection Act: establish application process for interested parties to apply for a county to be designated as a rural area (S. 1916), S326 [14JA]
Reports filed
Consideration of H.R. 4413, Customer Protection and End User Relief Act: Committee on Rules (House) (H. Res. 629) (H. Rept. 113–476), H5493 [18JN]
Customer Protection and End User Relief Act: Committee on Agriculture (House) (H.R. 4413) (H. Rept. 113–469), H5072 [5JN]
Disclosure Modernization and Simplification Act: Committee on Financial Services (House) (H.R. 4569) (H. Rept. 113–642), H8272 [2DE]
Holding Company Registration Threshold Equalization Act: Committee on Financial Services (House) (H.R. 801) (H. Rept. 113–325), H223 [14JA]
Permanent S Corporation Charitable Contributions Act: Committee on Ways and Means (House) (H.R. 4454) (H. Rept. 113–430), H3412 [2MY]
Regulation D Study Act: Committee on Financial Services (House) (H.R. 3240) (H. Rept. 113–640), H8272 [2DE]
Security in Bonding Act: Committee on Small Business (House) (H.R. 776) (H. Rept. 113–462), H4783 [21MY]
——— Committee on the Judiciary (House) (H.R. 776) (H. Rept. 113–462), H4783 [21MY]
Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act: Committee on Financial Services (House) (H.R. 2274) (H. Rept. 113–326), H223 [14JA]
Small Cap Liquidity Reform Act: Committee on Financial Services (House) (H.R. 3448) (H. Rept. 113–342), H1657 [5FE]
Statements
Customer Protection and End User Relief Act: Executive Office of the President, H5616 [23JN]
Summaries
Customer Protection and End User Relief Act (H.R. 4413): End User Exemption for Certain Derivative Sales Provisions, H8990 [10DE]
Texts of
H. Res. 629, consideration of H.R. 4413, Customer Protection and End User Relief Act, H5508 [19JN]
H.R. 801, Holding Company Registration Threshold Equalization Act, H196 [14JA]
H.R. 2274, Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act, H192 [14JA]
H.R. 2672, Helping Expand Lending Practices in Rural Communities Act, H3420 [6MY]
H.R. 3240, Regulation D Study Act, H8244 [2DE]
H.R. 3448, Small Cap Liquidity Reform Act, H1746 [11FE]
H.R. 4167, Restoring Proven Financing for American Employers Act, H3257 [29AP]
H.R. 4569, Disclosure Modernization and Simplification Act, H8258 [2DE]
H.R. 5461, clarify application of certain leverage and risk-based requirements and improve definitions of points and fees for mortgage transactions, H7508–H7510 [15SE]
H.R. 5471, specify how clearing CFTC requirements apply to certain affiliate transactions, H8240 [2DE]
H.R. 5810, U.S. Cotton Futures Act definition of cotton futures contracts modification, H9015 [10DE]
S. 1916, Helping Expand Lending Practices in Rural Communities (HELP Rural Communities) Act, S327 [14JA]
S. 2270, Insurance Capital Standards Clarification Act, S2472 [29AP], H9019 [10DE]