US SB1276 | 2009-2010 | 111th Congress
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on June 16 2009 - 25% progression, died in chamber
Action: 2009-06-16 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S6654)
Status: Introduced on June 16 2009 - 25% progression, died in chamber
Action: 2009-06-16 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S6654)
Summary
Private Fund Transparency Act of 2009 - Amends the Investment Advisers Act of 1940 to: (1) repeal the exemption from its registration requirements for private investment advisers; and (2) continue to exempt from such requirements only foreign private advisers. Authorizes the Securities and Exchange Commission (SEC) to require any registered investment adviser to maintain and submit records for federal supervision of systemic risk. Shields the SEC from any compulsion to disclose any supervisory report or information that is required to be filed with the SEC. Repeals the general disclaimer that no provision of the 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 of its clients. Empowers the SEC to ascribe different meanings to terms (including the term "client") used in different sections of the Act.
Title
Private Fund Transparency Act of 2009
Sponsors
Sen. Jack Reed [D-RI] |
History
Date | Chamber | Action |
---|---|---|
2009-06-16 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S6654) | |
2009-06-16 | Sponsor introductory remarks on measure. (CR S6653-6654) |
Subjects
Administrative law and regulatory procedures
Business records
Financial services and investments
Securities and Exchange Commission (SEC)
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/111th-congress/senate-bill/1276/all-info |