Enhanced S.E.C. Enforcement Authority Act

Bill: 111-hr-2873
Sponsor: Rep. Campbell, John [R-CA-48]
Introduced: 2009-06-15 in the House
Policy area: Finance and Financial Sector
Subjects: Banking and financial institutions regulation
Civil actions and liability
Evidence and witnesses
Federal district courts
Financial services and investments
Judicial procedure and administration
Securities
Securities and Exchange Commission (SEC)

Summary:
action_date: 2009-06-15
text: 
Enhanced S.E.C. Enforcement Authority Act - Amends the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Investment Company Act of 1940 to declare that, in any action or proceeding instituted under such Acts by the Securities and Exchange Commission (SEC) in a U.S. district court for any judicial district, subpoenas issued by or on behalf of the court to compel the attendance of witnesses or the production of documents or tangible things (or both) may be served in any other district (thus granting the SEC nationwide service of process).
 
States that such subpoenas may be served and enforced without application to the court or a showing of cause.

action_date: 2009-12-02
text: 
Enhanced S.E.C. Enforcement Authority Act - Amends the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Investment Company Act of 1940 to declare that, in any action or proceeding instituted under such Acts by the Securities and Exchange Commission (SEC) in a U.S. district court for any judicial district, subpoenas issued by or on behalf of the court to compel the attendance of witnesses or the production of documents or tangible things (or both) may be served in any other district (thus granting the SEC nationwide service of process).
 
States that such subpoenas may be served and enforced without application to the court or a showing of cause.
 
Denies application to subpoenas so issued of the requirement of Rule 45 of the Federal Rules of Civil Procedure that, on timely motion, the issuing court quash or modify any subpoena that requires a person who is neither a party nor a party's officer to travel more than 100 miles from where that person resides, is employed, or regularly transacts business in person (except that the person may be commanded to attend a trial by traveling from any such place within the state where the trial is held).
 


Legislative actions:
action_date: 2009-12-03
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2009-12-02
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2009-12-02
text: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H13404)
action_date: 2009-12-02
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H13404)
action_date: 2009-12-02
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 2873.
action_date: 2009-12-02
text: Considered under suspension of the rules. (consideration: CR H13404-13405)
action_date: 2009-12-02
text: Mr. Kanjorski moved to suspend the rules and pass the bill, as amended.
action_date: 2009-06-15
text: Referred to the House Committee on Financial Services.
action_date: 2009-06-15
text: Introduced in House
action_date: 2009-06-15
text: Introduced in House