S. 3492 (112th): A bill to provide for exemptions from municipal advisor registration requirements.

112th Congress, 2011–2013. Text as of Aug 02, 2012 (Introduced).

Status & Summary | PDF | Source: GPO

S 3492 IS

112th CONGRESS

2d Session

S. 3492

To provide for exemptions from municipal advisor registration requirements.

IN THE SENATE OF THE UNITED STATES

August 2, 2012

Mr. TOOMEY (for himself, Mr. CARPER, Mr. MORAN, and Mrs. MCCASKILL) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To provide for exemptions from municipal advisor registration requirements.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. BANK EXEMPTION FROM MUNICIPAL ADVISOR REGISTRATION.

    Section 15B(e)(4) of the Securities Exchange Act of 1934 (15 U.S.C. 78o-4(e)(4)) is amended--

      (1) in subparagraph (A), by striking ‘entity)’ and inserting ‘entity, or a person appointed to or volunteering on a board, commission, committee, or similar function of a municipal entity)’; and

      (2) in subparagraph (C), by inserting after ‘include’ the following: ‘a bank (as defined in section (3)(a)(6)) or an agency or branch of a foreign bank (as defined in paragraphs (1) and (3), respectively, of section 1(b) of the International Banking Act of 1978 (12 U.S.C. 3101)),’.