Revises the prohibition against unlawful credit extension (margin lending) to customers.
(Sec. 929A) Modifies federal criminal law granting whistleblower protections for employees of publicly traded companies to prohibit subsidiaries and affiliates of an issuer from engaging in specified acts of discrimination or retaliation.
(Sec. 929B) Modifies the procedure under which civil penalties obtained by the SEC shall be added to and become part of a disgorgement fund established for the relief of victims of the violation. Requires the amount of any settlement of a judicial or administrative action to be added to the disgorgement fund.
(Sec. 929C) Amends the Securities Investor Protection Act of 1970 (SIPA) to increase the borrowing limit on Treasury loans.
(Sec. 929D) Amends the Securities Exchange Act of 1934 regarding manipulative and deceptive devices to revise requirements for the reporting of lost and stolen securities to include canceled securities.
(Sec. 929E) Amends the Securities Exchange Act of 1933, the Investment Company Act of 1940, and the Investment Advisers Act of 1940 to expand SEC enforcement and remedies to include:
(1) nationwide service of subpoenas;
(2) enforcement authority over any person who at the time of the alleged violation or abuse is or was a member or employee of specified bodies (formerly associated persons); and
(3) authority to impose civil penalties in cease and desist proceedings.
Grants federal district courts extraterritorial jurisdiction over the antifraud provisions of federal securities laws.
(Sec. 929G) Applies certain requirements for SEC appointments to positions in the competitive service to any competitive service position at the SEC that requires specialized knowledge of financial and capital market formation or regulation, financial market structures or surveillance, or information technology.
(Sec. 929H) Amends the Securities Investor Protection Act of 1970 (SIPA) to increase the standard maximum cash advance for each customer (including an inflation adjustment).
Prohibits a SIPC member that has a customer from entering into an insolvency, receivership, or bankruptcy proceeding, under federal or state law, without the specific consent of SIPC, except as provided in this Act.
(Sec. 929I) Amends the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Investment Advisers Act of 1940, to prohibit any compulsion of the SEC to disclose certain records or information obtained under the Acts if they have been obtained for use in furtherance of certain purposes, including surveillance, risk assessments, or other regulatory and oversight activities.
(Sec. 929J) Revises requirements for the production of audit work papers by a foreign public accounting firm or a registered public accounting firm that relies upon the work of the foreign firm.
Requires a foreign public accounting firm to produce its audit work papers and all other documents to the SEC or the Public Company Accounting Oversight Board (PCAOB) upon request if the firm issues an audit report, performs audit work, or conducts interim reviews upon which a registered public accounting firm relies in the conduct of an audit or interim review.
(Continues to require a registered public accounting firm relying upon the work of a foreign public accounting firm to produce the foreign firm's work papers upon SEC or PCAOB request.)
(Sec. 929L) Applies anti-fraud provisions to any security that is not a government security.
(Sec. 929M) Amends the Securities Act of 1933, the Investment Company Act of 1940, and the Investment Advisers Act of 1940 to subject to liability for prosecution and penalties persons who aid and abet violations of such Acts.
(Sec. 929O) Amends the Securities Act of 1934 to add recklessness as an element of the aiding and abetting standard of knowledge.
(Sec. 929P) Expands SEC enforcement and remedies, including: (1) imposition of civil money penalties in cease and desist proceedings; and (2) SEC extraterritorial jurisdiction with respect to antifraud activities.
(Sec. 929Q) Amends the Investment Company Act of 1940 to prescribe recordkeeping requirements for each person with custody or use of a registered investment company's securities, deposits, or credits.
(Sec. 929R) Amends the Securities Exchange Act of 1934 to revise SEC requirements for beneficial ownership and short-swing profit reporting.
(Sec. 929S) Amends the Securities Exchange Act of 1934 to require fingerprinting of partners, directors, officers, and employees of registered securities information processors, national securities exchanges, and national securities associations.
(Sec. 929T) Declares void any condition, stipulation, or provision binding any person to waive compliance with SRO rules.
(Sec. 929U) Prescribes deadlines and procedures for completing compliance examinations, inspections, and enforcement actions for violations of securities laws.
(Sec. 929V) Amends the Securities Investor Protection Act of 1970 (SIPA) to increase: (1) the minimum assessment paid by Securities Investor Protection Corporation (SIPC) members; and (2) the fine for certain prohibited acts, including misrepresentation of SIPC membership or protection.
(Sec. 929W) Requires the SEC to revise its regulations to require due diligence on the part of brokers and dealers and other specified paying agents to search for lost security holders who have been sent checks for dividends, interest, and other valuable property which have not yet been negotiated.
(Sec. 929X) Directs the SEC to prescribe rules requiring monthly public disclosure of specified information about short sales of each security, including their number.
Makes it unlawful to effect manipulative short sales of securities.
Requires registered brokers or dealers to notify customers that: (1) they may elect not to allow their fully paid securities to be used in connection with short sales; and (2) the broker or dealer may receive compensation in connection with lending the customer's securities.
(Sec. 929Y) Directs the SEC to study and report to Congress on the extent to which private rights of action under the antifraud provisions of the Securities and Exchange Act of 1934 should be extended to cover conduct occurring:
(1) within the United States that constitutes a significant step in the furtherance of the violation, even if the securities transaction occurs outside the United States and involves only foreign investors; and
(2) outside the United States that has a foreseeable substantial effect within the United States.
(Sec. 929Z) Directs the Comptroller General to study and report to Congress on the impact of authorizing a private right of action against any person who aids or abets another person in violation of the securities laws.