dreamproit/uscode huggingface dataset:
15 U.S.C. § 80b–6a (COMMERCE AND TRADE)
§ 80b–6a. Exemptions
The Commission, by rules and regulations, upon its own motion, or by order upon application, may conditionally or unconditionally exempt any person or transaction, or any class or classes of persons, or transactions, from any provision or provisions of this subchapter or of any rule or regulation thereunder, if and to the extent that such exemption is necessary or appropriate in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of this subchapter.
(Aug. 22, 1940, ch. 686, title II, § 206A, as added Pub. L. 91–547, § 26, Dec. 14, 1970, 84 Stat. 1433.)
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date
text: Section effective Dec. 14, 1970, see section 30 of Pub. L. 91–547, set out as a note under section 80a–2 of this title.
15 U.S.C. § 80b–7 (COMMERCE AND TRADE)
§ 80b–7. Material misstatements
It shall be unlawful for any person willfully to make any untrue statement of a material fact in any registration application or report filed with the Commission under section 80b–3 or 80b–4 of this title, or willfully to omit to state in any such application or report any material fact which is required to be stated therein.
(Aug. 22, 1940, ch. 686, title II, § 207, 54 Stat. 853.)
heading: Executive Documents
heading: Transfer of Functions
text: For transfer of functions of Securities and Exchange Commission, with certain exceptions, to Chairman of such Commission, see Reorg. Plan No. 10 of 1950, §§ 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 1265, set out under section 78d of this title.
15 U.S.C. § 80b–8 (COMMERCE AND TRADE)
§ 80b–8. General prohibitions
(a) Representations of sponsorship by United States or agency thereof
It shall be unlawful for any person registered under section 80b–3 of this title to represent or imply in any manner whatsoever that such person has been sponsored, recommended, or approved, or that his abilities or qualifications have in any respect been passed upon by the United States or any agency or any officer thereof.
(b) Statement of registration under Securities Exchange Act of 1934 provisions
No provision of subsection (a) shall be construed to prohibit a statement that a person is registered under this subchapter or under the Securities Exchange Act of 1934 [15 U.S.C. 78a et seq.], if such statement is true in fact and if the effect of such registration is not misrepresented.
(c) Use of name “investment counsel” as descriptive of business
It shall be unlawful for any person registered under section 80b–3 of this title to represent that he is an investment counsel or to use the name “investment counsel” as descriptive of his business unless (1) his or its principal business consists of acting as investment adviser, and (2) a substantial part of his or its business consists of rendering investment supervisory services.
(d) Use of indirect means to do prohibited act
It shall be unlawful for any person indirectly, or through or by any other person, to do any act or thing which it would be unlawful for such person to do directly under the provisions of this subchapter or any rule or regulation thereunder.
(Aug. 22, 1940, ch. 686, title II, § 208, 54 Stat. 853; Pub. L. 86–750, §§ 10, 11, Sept. 13, 1960, 74 Stat. 887.)
heading: Editorial Notes
heading: References in Text
text: The Securities Exchange Act of 1934, referred to in subsec. (b), is act June 6, 1934, ch. 404, 48 Stat. 881, which is classified principally to chapter 2B (§ 78a et seq.) of this title. For complete classification of this Act to the Code, see section 78a of this title and Tables.
heading: Amendments
text: 1960—Pub. L. 86–750, § 10, substituted “General prohibitions” for “Unlawful representations” in section catchline.
Subsec. (c). Pub. L. 86–750, § 11(a), authorized representation as an investment counsel if person’s principal business consisted of acting as investment adviser, and a substantial part of the business was rendering investment supervisory services, and struck out the requirements that the person be primarily engaged in rendering investment supervisory services, or that his registration application state that the person is, or is about to become engaged primarily in rendering investment advisory services.
Subsec. (d). Pub. L. 86–750, § 11(b), added subsec. (d).
heading: Executive Documents
heading: Transfer of Functions
text: For transfer of functions of Securities and Exchange Commission, with certain exceptions, to Chairman of such Commission, see Reorg. Plan No. 10 of 1950, §§ 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 1265, set out under section 78d of this title.
15 U.S.C. § 80b–12 (COMMERCE AND TRADE)
§ 80b–12. Hearings
Hearings may be public and may be held before the Commission, any member or members thereof, or any officer or officers of the Commission designated by it, and appropriate records thereof shall be kept.
(Aug. 22, 1940, ch. 686, title II, § 212, 54 Stat. 855.)
heading: Executive Documents
heading: Transfer of Functions
text: For transfer of functions of Securities and Exchange Commission, with certain exceptions, to Chairman of such Commission, see Reorg. Plan No. 10 of 1950, §§ 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 1265, set out under section 78d of this title.
15 U.S.C. § 80b–15 (COMMERCE AND TRADE)
§ 80b–15. Validity of contracts
(a) Waiver of compliance as void
Any condition, stipulation, or provision binding any person to waive compliance with any provision of this subchapter or with any rule, regulation, or order thereunder shall be void.
(b) Rights affected by invalidity
Every contract made in violation of any provision of this subchapter and every contract heretofore or hereafter made, the performance of which involves the violation of, or the continuance of any relationship or practice in violation of any provision of this subchapter, or any rule, regulation, or order thereunder, shall be void (1) as regards the rights of any person who, in violation of any such provision, rule, regulation, or order, shall have made or engaged in the performance of any such contract, and (2) as regards the rights of any person who, not being a party to such contract, shall have acquired any right thereunder with actual knowledge of the facts by reason of which the making or performance of such contract was in violation of any such provision.
(Aug. 22, 1940, ch. 686, title II, § 215, 54 Stat. 856.)
heading: Executive Documents
heading: Transfer of Functions
text: For transfer of functions of Securities and Exchange Commission, with certain exceptions, to Chairman of such Commission, see Reorg. Plan No. 10 of 1950, §§ 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 1265, set out under section 78d of this title.
15 U.S.C. § 80b–16 (COMMERCE AND TRADE)
§ 80b–16. Omitted
heading: Editorial Notes
heading: Codification
text: Section, act Aug. 22, 1940, ch. 686, title II, § 216, 54 Stat. 857, which required the Securities and Exchange Commission to submit an annual report to Congress on the work of the Commission, terminated, effective May 15, 2000, pursuant to section 3003 of Pub. L. 104–66, as amended, set out as a note under section 1113 of Title 31, Money and Finance. See, also, page 191 of House Document No. 103–7.
15 U.S.C. § 80b–17 (COMMERCE AND TRADE)
§ 80b–17. Penalties
Any person who willfully violates any provision of this subchapter, or any rule, regulation, or order promulgated by the Commission under authority thereof, shall, upon conviction, be fined not more than $10,000, imprisoned for not more than five years, or both.
(Aug. 22, 1940, ch. 686, title II, § 217, 54 Stat. 857; Pub. L. 86–750, § 15, Sept. 13, 1960, 74 Stat. 888; Pub. L. 94–29, § 27(f), June 4, 1975, 89 Stat. 163.)
heading: Editorial Notes
heading: Amendments
text: 1975—Pub. L. 94–29 substituted “imprisoned for not more than five years” for “imprisoned for not more than two years”.
1960—Pub. L. 86–750 inserted “, or any rule, regulation or order promulgated by the Commission under authority thereof,”.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date of 1975 Amendment
text: Amendment by Pub. L. 94–29 effective June 4, 1975, see section 31(a) of Pub. L. 94–29, set out as a note under section 78b of this title.
15 U.S.C. § 80b–18 (COMMERCE AND TRADE)
§ 80b–18. Hiring and leasing authority of Commission
The provisions of section 78d(b) of this title shall be applicable with respect to the power of the Commission—
(1) to appoint and fix the compensation of such other employees as may be necessary for carrying out its functions under this subchapter, and
(2) to lease and allocate such real property as may be necessary for carrying out its functions under this subchapter.
(Aug. 22, 1940, ch. 686, title II, § 218, 54 Stat. 857; Oct. 28, 1949, ch. 782, title XI, § 1106(a), 63 Stat. 972; Pub. L. 101–550, title I, § 104(d), Nov. 15, 1990, 104 Stat. 2714.)
heading: Editorial Notes
heading: Amendments
text: 1990—Pub. L. 101–550 amended section generally. Prior to amendment, section related to appointment and compensation of employees.
1949—Act Oct. 28, 1949, substituted “Classification Act of 1949” for “Classification Act of 1923”.
heading: Statutory Notes and Related Subsidiaries
heading: Repeals
text: Act Oct. 28, 1949, ch. 782, cited as a credit to this section, was repealed (subject to a savings clause) by Pub. L. 89–554, Sept. 6, 1966, § 8, 80 Stat. 632, 655.
heading: Executive Documents
heading: Transfer of Functions
text: For transfer of functions of Securities and Exchange Commission, with certain exceptions, to Chairman of such Commission, see Reorg. Plan No. 10 of 1950, §§ 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 1265, set out under section 78d of this title.
15 U.S.C. § 80b–18b (COMMERCE AND TRADE)
§ 80b–18b. Custody of client accounts
An investment adviser registered under this subchapter shall take such steps to safeguard client assets over which such adviser has custody, including, without limitation, verification of such assets by an independent public accountant, as the Commission may, by rule, prescribe.
(Aug. 22, 1940, ch. 686, title II, § 223, as added Pub. L. 111–203, title IV, § 411, July 21, 2010, 124 Stat. 1577.)
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date
text: Section effective 1 year after July 21, 2010, except that any investment adviser may, at the discretion of the investment adviser, register with the Commission under the Investment Advisers Act of 1940 during that 1-year period, subject to the rules of the Commission, and except as otherwise provided, see section 419 of Pub. L. 111–203, set out as an Effective Date of 2010 Amendment note under section 80b–2 of this title.
15 U.S.C. § 80b–18c (COMMERCE AND TRADE)
§ 80b–18c. Rule of construction relating to the Commodities Exchange Act
Nothing in this subchapter shall relieve any person of any obligation or duty, or affect the availability of any right or remedy available to the Commodity Futures Trading Commission or any private party, arising under the Commodity Exchange Act (7 U.S.C. 1 et seq.) governing commodity pools, commodity pool operators, or commodity trading advisors.
(Aug. 22, 1940, ch. 686, title II, § 224, as added Pub. L. 111–203, title IV, § 414, July 21, 2010, 124 Stat. 1578.)
heading: Editorial Notes
heading: References in Text
text: The Commodity Exchange Act, referred to in text, is act Sept. 21, 1922, ch. 369, 42 Stat. 998, which is classified generally to chapter 1 (§ 1 et seq.) of Title 7, Agriculture. For complete classification of this Act to the Code, see section 1 of Title 7 and Tables.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date
text: Section effective 1 year after July 21, 2010, except that any investment adviser may, at the discretion of the investment adviser, register with the Commission under the Investment Advisers Act of 1940 during that 1-year period, subject to the rules of the Commission, and except as otherwise provided, see section 419 of Pub. L. 111–203, set out as an Effective Date of 2010 Amendment note under section 80b–2 of this title.
15 U.S.C. § 80b–20 (COMMERCE AND TRADE)
§ 80b–20. Short title
This subchapter may be cited as the “Investment Advisers Act of 1940”.
(Aug. 22, 1940, ch. 686, title II, § 220, 54 Stat. 857.)
heading: Statutory Notes and Related Subsidiaries
heading: Short Title of 2019 Amendment
text: Pub. L. 115–417, § 1, Jan. 3, 2019, 132 Stat. 5438, provided that: “This Act [amending sections 80b–3 and 80b–3a of this title] may be cited as the ‘RBIC Advisers Relief Act of 2018’.”
heading: Short Title of 2010 Amendment
text: Pub. L. 111–203, title IV, § 401, July 21, 2010, 124 Stat. 1570, provided that: “This title [enacting sections 80b–18b and 80b–18c of this title, amending sections 80b–2, 80b–3, 80b–3a, 80b–4, 80b–5, 80b–10, and 80b–11 of this title, and enacting provisions set out as notes under sections 77b and 80b–2 of this title] may be cited as the ‘Private Fund Investment Advisers Registration Act of 2010’.”
heading: Short Title of 1996 Amendment
text: Pub. L. 104–290, title III, § 301, Oct. 11, 1996, 110 Stat. 3436, provided that: “This title [enacting section 80b–3a of this title, amending sections 80b–2, 80b–3, and 80b–18a of this title and section 1002 of Title 29, Labor, and enacting provisions set out as notes under sections 80b–2, 80b–3a, and 80b–10 of this title and section 1002 of Title 29] may be cited as the ‘Investment Advisers Supervision Coordination Act’.”
15 U.S.C. § 80c (COMMERCE AND TRADE)
§ 80c. Liaison between Securities and Exchange Commission and Small Business Administration
(a) Studies on needs, problems, and costs of businesses; availability
The Securities and Exchange Commission shall gather, analyze, and make available to the public, information with respect to the capital formation needs, and the problems and costs involved with new, small, medium-sized, and independent businesses.
(b) Availability of studies to Small Business Administration
The Commission shall make the results of such studies available to the Small Business Administration and otherwise have regular communication and liaison with such Administration in these matters.
(Pub. L. 96–477, title V, § 502, Oct. 21, 1980, 94 Stat. 2292.)
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date
text: Pub. L. 96–477, title V, § 507, Oct. 21, 1980, 94 Stat. 2294, provided that: “Except as otherwise specified, the amendments made by this title [enacting this chapter and amending section 77s of this title] shall become effective January 1 of the year following the date of enactment of this Act [Oct. 21, 1980].”
heading: Short Title
text: Pub. L. 96–477, title V, § 501, Oct. 21, 1980, 94 Stat. 2291, provided that: “This title [enacting this chapter and amending section 77s of this title] may be cited as the ‘Omnibus Small Business Capital Formation Act of 1980’.”
15 U.S.C. § 80c–2 (COMMERCE AND TRADE)
§ 80c–2. Authorization of appropriations
For fiscal year 1982, and for each of the three succeeding fiscal years, there are hereby authorized to be appropriated such amounts as may be necessary and appropriate to carry out the provisions and purposes of this chapter. Any sums so appropriated shall remain available until expended.
(Pub. L. 96–477, title V, § 504, Oct. 21, 1980, 94 Stat. 2292.)
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date
text: Section effective Jan. 1, 1981, see section 507 of Pub. L. 96–477, set out as a note under section 80c of this title.
15 U.S.C. § 80c–3 (COMMERCE AND TRADE)
§ 80c–3. Reduction of costs of small securities issues
(a) The Securities and Exchange Commission shall use its best efforts to identify and reduce the costs of raising capital in connection with the issuance of securities by firms whose aggregate outstanding securities and other indebtedness have a market value of $25,000,000 or less, through such means as studies, giving appropriate publicity to improved technology developments in fields such as printing, communications, and filing, and giving special attention to the effect of existing and proposed regulatory changes upon the small companies wishing to raise capital and independent broker-dealers which are in a key position with respect to the costs of underwriting and making markets in the securities of smaller companies.
(b) The Commission shall report on these efforts at the annual Government-business forum required by section 80c–1 of this title.
(Pub. L. 96–477, title V, § 506, Oct. 21, 1980, 94 Stat. 2293.)
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date
text: Section effective Jan. 1, 1981, see section 507 of Pub. L. 96–477, set out as a note under section 80c of this title.
15 U.S.C. § 81...134 (COMMERCE AND TRADE)
§§ 81 to 134. Repealed. July 5, 1946, ch. 540, § 46(a), 60 Stat. 444
Distribution Table
Title 15
Former Sections
Title 15
New Sections
81
1051, 1054, 1126(b).
82
1051, 1061.
83
1126.
84
1125(c), (d).
85
1052.
86
1062, 1063.
87
1063, 1066 to 1068.
88
1070.
89
1071.
90
1060.
91
1057(a), (c).
92
1058, 1059, 1126(f).
93
1064, 1068, 1070.
94
1113.
95
1113.
96
1057(b), 1114, 1115, 1117.
97
1121.
98
1122.
99
1116, 1117.
100
1116, 1118.
101
1115.
102
1071, 1119.
103
1051 note.
104
1120.
105
1123.
106
1124.
107
1111.
108
1127.
109
1051 note.
121
1051 note, 1091, 1126.
122
1092.
123
1125.
124
1114, 1117.
125
1111.
126
1094, 1126(f).
127
1057(e).
128
1113.
131
1112.
132
1051 note.
133
1057(f).
134
not now covered.
text: Sections were repealed effective one year from July 5, 1946, insofar as inconsistent with present trade-mark provisions contained in chapter 22, § 1051 et seq. of this title. For effect of repeal on existing registrations and pending proceedings see notes under section 1051 of this title.
text: Sections 98 and 127 were rerepealed by act June 25, 1948, ch. 646, § 39, 62 Stat. 992, eff. Sept. 1, 1948.
heading: Editorial Notes
heading: Derivation
text: Sections were derived from the following acts:
Feb. 20, 1905, ch. 592, §§ 1 to 23, 25–30, 33 Stat. 724 to 731.
May 4, 1906, ch. 2081, §§ 1 to 3, 34 Stat. 168, 169.
Mar. 2, 1907, ch. 2573, §§ 1, 2, 34 Stat. 1251, 1252.
Feb. 18, 1909, ch. 144, 35 Stat. 627, 628.
Feb. 18, 1911, ch. 113, 36 Stat. 918.
Mar. 3, 1911, ch. 231, § 291, 36 Stat. 1167.
Aug. 24, 1912, ch. 370, § 5, 37 Stat. 498.
Jan. 8, 1913, ch. 7, 37 Stat. 649.
Mar. 19, 1920, ch. 104, §§ 1 to 9, 41 Stat. 533 to 535.
June 7, 1924, ch. 341, 43 Stat. 647.
Mar. 4, 1925, ch. 535, §§ 1, 3, 43 Stat. 1268, 1269.
Mar. 2, 1929, ch. 488, § 2(b), 45 Stat. 1476.
Apr. 11, 1930, ch. 132, § 4, 46 Stat. 155.
June 7, 1934, ch. 426, 48 Stat. 926.
June 20, 1936, ch. 617, 49 Stat. 1539.
June 25, 1936, ch. 804, 49 Stat. 1921.
June 10, 1938, ch. 332, §§ 1 to 3, 5, 52 Stat. 638, 639.
15 U.S.C. § 141 (COMMERCE AND TRADE)
§ 141. Short title
This chapter may be cited as the “China Trade Act, 1922.”
(Sept. 19, 1922, ch. 346, § 1, 42 Stat. 849.)
heading: Editorial Notes
heading: References in Text
text: This chapter, referred to in text, was in the original “this Act”, meaning act Sept. 19, 1922, ch. 346, 42 Stat. 849. The Act (except sections 21 to 27) is classified to this chapter. Sections 21 to 27 of the Act amended title II of the Revenue Act of 1921, which was repealed by section 1100 of the Revenue Act of 1924 (43 Stat. 352).
15 U.S.C. § 142 (COMMERCE AND TRADE)
§ 142. Definitions
When used in this chapter, unless the context otherwise indicates—
(a) The term “person” includes individual, partnership, corporation, and association;
(b) The term “China” means (1) China including Manchuria, Tibet, Mongolia, and any territory leased by China to any foreign government, (2) the Crown Colony of Hong Kong, and (3) the Province of Macao;
(c) The terms “China Trade Act corporation” and “corporation” mean a corporation chartered under the provisions of this chapter;
(d) The term “Federal district court” means any Federal district court, and the United States District Court for the District of Columbia;
(e) The term “Secretary” means the Secretary of Commerce; and
(f) The term “registrar” means the China Trade Act registrar appointed under section 143 of this title.
(Sept. 19, 1922, ch. 346, § 2, 42 Stat. 849; June 25, 1936, ch. 804, 49 Stat. 1921; Treaty Jan. 11, 1943, 57 Stat. 767; June 25, 1948, ch. 646, § 32(a), 62 Stat. 991; May 24, 1949, ch. 139, § 127, 63 Stat. 107.)
heading: Editorial Notes
heading: Codification
text: Words “the United States Court for China” deleted from definition of “Federal district court” under the authority of Treaty between the United States and the Republic of China, 57 Stat. 767, which was signed in Washington, Jan. 11, 1943, ratified by the United States Senate on Feb. 11, 1943, ratified by the President on May 4, 1943, and ratified by the Republic of China on Feb. 4, 1943, by which the United States relinquished all extraterritorial jurisdiction and rights in China.
Congress by private act Dec. 22, 1944, ch. 691, 58 Stat. 1086, provided for the relief of certain former employees of the United States Court for China for the period of July 1, 1942 to May 20, 1943, on which date the Court ceased to exist.
heading: Statutory Notes and Related Subsidiaries
heading: Change of Name
text: Act June 25, 1948, eff. Sept. 1, 1948, as amended by act May 24, 1949, substituted “United States District Court for the District of Columbia” for “district court of the United States for the District of Columbia”.
Act June 25, 1936, substituted “district court of the United States for the District of Columbia” for “Supreme Court of the District of Columbia”.
15 U.S.C. § 143 (COMMERCE AND TRADE)
§ 143. Registrar; designation; station; supervision by Secretary of Commerce
The Secretary of Commerce may authorize such Foreign Service officer as Secretary of State shall make available to perform duties of China Trade Act Registrar under his direction. The official station of the registrar shall be in China at a place to be designated by the Secretary. All functions vested in the registrar by this chapter shall be administered by him under the supervision of the Secretary; except that upon appeal to the Secretary in such manner as he shall by regulation prescribe, any action of the registrar may be affirmed, modified, or set aside by the Secretary as he deems advisable.
(Sept. 19, 1922, ch. 346, § 3, 42 Stat. 850; 1939 Reorg. Plan No. II, § 1(d), eff. July 1, 1939, 4 F.R. 2731, 53 Stat. 1431.)
heading: Executive Documents
heading: Transfer of Functions
text: Secretary of Commerce may authorize such Foreign Service officer as Secretary of State shall make available to perform duties of China Trade Act Registrar under direction of Secretary of Commerce to conform to 1939 Reorg. Plan No. II, set out in the Appendix to Title 5, Government Organization and Employees.
Responsibilities of Secretary of Commerce with regard to China Trade Act Registrar are exercised by Deputy Assistant Secretary for International Commerce in Domestic and International Business Administration of the Department of Commerce, with the power of redelegation.
15 U.S.C. § 144a (COMMERCE AND TRADE)
§ 144a. Incorporation fee for perpetual existence
Any China Trade Act corporation existing on June 25, 1938, may make its existence perpetual only upon application to the Secretary of Commerce to amend its charter in that respect and upon payment of a fee equivalent to the incorporation fee. Upon receipt of such application and the payment of such prescribed fee, the Secretary shall approve such application and the charter of the corporation shall be amended accordingly.
(June 25, 1938, ch. 696, § 2, 52 Stat. 1196.)
heading: Editorial Notes
heading: Codification
text: Section was not enacted as part of the China Trade Act, 1922, which comprises this chapter.