H.R. 4624 (112th): Investment Adviser Oversight Act of 2012

Introduced:
Apr 25, 2012 (112th Congress, 2011–2013)
Sponsor:
Rep. Spencer Bachus III [R-AL6]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on April 25, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Apr 25, 2012
Referred to Committee Apr 25, 2012
Cosponsors
3 cosponsors (2R, 1D) (show)
Committees

House Financial Services

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the Investment Advisers Act of 1940 to provide for the registration and oversight of national investment adviser associations.

Summary

No summaries available.

Text

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Last updated Apr 25, 2012.
38 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

4/25/2012--Introduced.
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.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.

No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)

  • Title 5: GOVERNMENT ORGANIZATION AND EMPLOYEES
  • Part I: THE AGENCIES GENERALLY
  • Chapter 5: ADMINISTRATIVE PROCEDURE
  • Subchapter II: ADMINISTRATIVE PROCEDURE
  • Section 553: Rule making
  • Title 15: COMMERCE AND TRADE
  • Chapter 2D: INVESTMENT COMPANIES AND ADVISERS
  • Subchapter II: INVESTMENT ADVISERS
  • Section 80b-1: Findings