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Text of the Maintaining Agency Direction on Financial Fraud Act

This bill was introduced on February 24, 2010, in a previous session of Congress, but was not enacted. The text of the bill below is as of Feb 24, 2010 (Introduced).

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Source: GPO

II

111th CONGRESS

2d Session

S. 3032

IN THE SENATE OF THE UNITED STATES

February 24, 2010

introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To prohibit the enforcement of a climate change interpretive guidance issued by the Securities and Exchange Commission, and for other purposes.

1.

Short title

This Act may be cited as the Maintaining Agency Direction on Financial Fraud Act.

2.

Interpretive Guidance null and void

Notwithstanding any other provision of law, no interpretive guidance issued by the Securities and Exchange Commission on or after the effective date of this Act relating to Commission Guidance Regarding Disclosure Related to Climate Change, affecting Parts 211, 231, and 249 of title 17, Code of Federal Regulations, (as described in Commission Release Nos. 33–9106; 34–61469; FR–82), or any successor thereto, may take effect, and such guidance shall have no force or effect with respect to any person on or after February 2, 2010.