H.R. 1077 · 109th Congress
Realtime Investor Protection Act
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Passed the House without a recorded vote, then expired. It passed by voice vote or unanimous consent, which don't record how each member voted, but didn't become law before the 109th Congress ended.
R
ShadeggSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- House Introduced Mar 3, 2005
- House Passed Apr 6, 2005
Realtime Investor Protection Act - Amends the Securities Exchange Act of 1934 to require a registered securities association to: (1) establish and maintain a registration information system on its members and their associated persons; and (2) establish and maintain a toll-free telephone listing, and a readily accessible electronic or other process, to…
What it does: CRS summary · Passed House amended · Apr 6, 2005
Realtime Investor Protection Act - Amends the Securities Exchange Act of 1934 to require a registered securities association to: (1) establish and maintain a registration information system on its members and their associated persons; and (2) establish and maintain a toll-free telephone listing, and a readily accessible electronic or other process, to receive and promptly respond to inquiries regarding that information. (Currently such an association is required to maintain a toll-free telephone listing to receive inquiries regarding disciplinary actions involving its members and their associated persons.)
Amends the Investment Advisers Act of 1940 to authorize the Securities and Exchange Commission (SEC) to require an investment adviser to: (1) file with the SEC any fee, application, report, or notice required to be filed through any entity designated by the SEC for that purpose; and (2) pay the reasonable costs associated with such filing and the establishment and maintenance of the telephone and electronic systems required by this Act.
Directs the SEC to require the designated entity to establish and maintain a toll-free telephone listing, and a readily accessible electronic or other process, to receive and promptly respond to inquiries regarding registration information (including disciplinary actions, regulatory, judicial, and arbitration proceedings, involving investment advisers and persons associated with investment advisers).
Requires that such information to include information on an investment adviser (and the persons associated with that adviser) whether the investment adviser is registered with the Commission or regulated solely by a State.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Realtime Investor Protection Act
Latest action (Apr 7, 2005): Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Mar 3, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
- House Introduced Mar 3, 2005
- House Passed Apr 6, 2005
No recorded floor vote found.