US Congress House Bill 4624 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Republican 3-1)
Status: Introduced on April 25 2012 - 25% progression, died in chamber
Action: 2012-06-06 - Committee Hearings Held.
Text: Latest bill text (Introduced) [PDF]

Investment Adviser Oversight Act of 2012 - Amends the Investment Advisers Act of 1940 to require investment advisers to register with a registered national investment adviser association, unless exempted according to specified criteria. Prescribes registration requirements and procedures. Requires each national investment adviser association to conduct an annual conference to which representatives from the state securities administrators association and the Securities and Exchange Commission (SEC) shall be invited to participate in order to foster cooperation between such entities. Sets forth procedures for: (1) approval of registration; and (2) discipline of members by a national investment adviser association, including membership denial and summary suspension. Grants the SEC enforcement authority including suspension and expulsion of members and removal or censure of officers and directors.

Investment Adviser Oversight Act of 2012

Rep. Spencer Bachus [R-AL]

Rep. Carolyn McCarthy [D-NY]

Rep. David Schweikert [R-AZ]

Rep. Steve Stivers [R-OH]

Date	Chamber	Action
2012-06-06	House	Committee Hearings Held.
2012-04-25	House	Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/4624/all-info
Text	https://www.congress.gov/112/bills/hr4624/BILLS-112hr4624ih.pdf