In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.

Q: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Readjustment Counseling Service 
Amendments of 1995''.

SEC. 2. ORGANIZATION OF THE READJUSTMENT COUNSELING SERVICE IN THE 
              DEPARTMENT OF VETERANS AFFAIRS.

    (a) In General.--Section 7305 of title 38, United States Code, is 
amended--
            (1) by redesignating paragraph (7) as paragraph (8); and
            (2) by inserting after paragraph (6) the following new 
        paragraph (7):
            ``(7) A Readjustment Counseling Service.''.
    (b) Organization.--The Readjustment Counseling Service shall have 
the organizational structure and administrative structure of that 
service as such structures were in existence on January 1, 1993.
    (c) Revision of Organizational Structure.--(1) The Secretary of 
Veterans Affairs may not alter or revise the organizational structure 
or the administrative structure of the Readjustment Counseling Service 
until--
            (A) the Secretary has submitted to the Committees on 
        Veterans' Affairs of the Senate and House of Representatives a 
        report containing a full and complete statement of the proposed 
        alteration or revision; and
            (B) a period of 60 days has elapsed after the date on which 
        the report is received by the committees.
    (2) In the computation of the 60-day period under paragraph (1)(B), 
there shall be excluded any day on which either House of Congress is 
not in session because of an adjournment of more than 3 calendar days 
to a day certain.
    (d) Budget Information Relating to the Service.--Each budget 
submitted to Congress by the President under section 1105 of title 31, 
United States Code, shall set forth the amount requested in the budget 
for the operation of the Readjustment Counseling Service in the fiscal 
year covered by the budget and shall set forth separately the amount 
requested for administrative oversight of the activities of the service 
(including the amount requested for funding of the Advisory Committee 
on Readjustment of Veterans).

SEC. 3. DIRECTOR OF THE READJUSTMENT COUNSELING SERVICE.

    (a) Director.--Section 7306(b) of title 38, United States Code, is 
amended--
            (1) by striking out ``and'' at the end of paragraph (2);
            (2) by striking out the period at the end of paragraph (3) 
        and inserting in lieu thereof ``; and''; and
            (3) by adding at the end the following:
            ``(4) one shall be a person who (A)(i) is a qualified 
        psychiatrist, (ii) is a qualified psychologist holding a 
        diploma as a doctorate in clinical or counseling psychology 
        from an authority approved by the American Psychological 
        Association and has successfully undergone an internship 
        approved by that association, (iii) is a qualified holder of a 
        master in social work degree, or (iv) is a registered nurse 
        holding a master of science in nursing degree in psychiatric 
        nursing or any other mental-health related degree approved by 
        the Secretary, and (B) has at least 3 years of clinical 
        experience and 2 years of administrative experience in the 
        Readjustment Counseling Service or other comparable mental 
        health care counseling service (as determined by the 
        Secretary), who shall be the director of the Readjustment 
        Counseling Service.''.
    (b) Status of Director.--Section 7306(a)(3) of such title is 
amended by striking out ``eight'' and inserting in lieu thereof 
``nine''.
    (c) Organizational Requirement.--The Director of the Readjustment 
Counseling Service shall report to the Under Secretary for Health of 
the Department of Veterans Affairs through the Associate Deputy Under 
Secretary for Health for Clinical Programs.

SEC. 4. EXPANSION OF ELIGIBILITY FOR READJUSTMENT COUNSELING AND 
              CERTAIN RELATED COUNSELING SERVICES.

    (a) Readjustment Counseling.--(1) Subsection (a) of section 1712A 
of title 38, United States Code, is amended to read as follows:
    ``(a)(1)(A) Upon the request of any veteran referred to in 
subparagraph (B) of this paragraph, the Secretary shall furnish 
counseling to the veteran to assist the veteran in readjusting to 
civilian life.
    ``(B) A veteran referred to in subparagraph (A) of this paragraph 
is any veteran who--
            ``(i) served on active duty during the Vietnam era; or
            ``(ii) served on active military, naval, or air service in 
        a theater of combat operations (as determined by the Secretary, 
        in consultation with the Secretary of Defense) during a period 
        of war or in any other area during a period in which 
        hostilities (as defined in subparagraph (D) of this paragraph) 
        occurred in such area.
    ``(C) Upon the request of any veteran other than a veteran referred 
to in subparagraph (A) of this paragraph, the Secretary may furnish 
counseling to the veteran to assist the veteran in readjusting to 
civilian life.
    ``(D) For the purposes of subparagraph (A) of this paragraph, the 
term `hostilities' means an armed conflict in which the members of the 
Armed Forces are subjected to danger comparable to the danger to which 
members of the Armed Forces have been subjected in combat with enemy 
armed forces during a period of war, as determined by the Secretary in 
consultation with the Secretary of Defense.
    ``(2) The counseling referred to in paragraph (1) shall include a 
general mental and psychological assessment of a covered veteran to 
ascertain whether such veteran has mental or psychological problems 
associated with readjustment to civilian life.''.
    (2) Subsection (c) of such section is repealed.
    (b) Other Counseling.--Such section is further amended by inserting 
after subsection (b) the following new subsection (c):
    ``(c)(1) The Secretary shall provide the counseling services 
described in section 1701(6)(B)(ii) of this title to the surviving 
parents, spouse, and children of any member of the Armed Forces who is 
killed during service on active military, naval, or air service in a 
theater of combat operations (as determined by the Secretary, in 
consultation with the Secretary of Defense) during a period of war or 
in any other area during a period in which hostilities (as defined in 
subsection (a)(1)(D) of this section) occurred in such area.
    ``(2) The Secretary may provide the counseling services referred to 
in paragraph (1) to the surviving parents, spouse, and children of any 
member of the Armed Forces who dies while serving on active duty or 
from a condition (as determined by the Secretary) incurred in or 
aggravated by such service.''.
    (c) Authority To Contract for Counseling Services.--Subsection (e) 
of such section is amended by striking out ``subsections (a) and (b)'' 
each place it appears and inserting in lieu thereof ``subsections (a), 
(b), and (c)''.

SEC. 5. ADVISORY COMMITTEE ON THE READJUSTMENT OF VETERANS.

    (a) In General.--(1) Subchapter II of chapter 17 of title 38, 
United States Code, is amended by inserting after section 1712B the 
following:
``Sec. 1712C. Advisory Committee on the Readjustment of Veterans
    ``(a)(1) There is in the Department the Advisory Committee on the 
Readjustment of Veterans (hereafter in this section referred to as the 
`Committee').
    ``(2) The Committee shall consist of not more than 18 members 
appointed by the Secretary from among veterans who--
            ``(A) have demonstrated significant civic or professional 
        achievement; and
            ``(B) have experience with the provision of veterans 
        benefits and services by the Department.
    ``(3) The Secretary shall seek to ensure that members appointed to 
the Committee include persons from a wide variety of geographic areas 
and ethnic backgrounds, persons from veterans service organizations, 
and women.
    ``(4) The Secretary shall determine the terms of service and pay 
and allowances of the members of the Committee, except that a term of 
service may not exceed 2 years. The Secretary may reappoint any member 
for additional terms of service.
    ``(b)(1) The Secretary shall, on a regular basis, consult with and 
seek the advice of the Committee with respect to the provision by the 
Department of benefits and services to veterans in order to assist 
veterans in the readjustment to civilian life.
    ``(2)(A) In providing advice to the Secretary under this 
subsection, the Committee shall--
            ``(i) assemble and review information relating to the needs 
        of veterans in readjusting to civilian life;
            ``(ii) provide information relating to the nature and 
        character of psychological problems arising from service in the 
        Armed Forces;
            ``(iii) provide an on-going assessment of the effectiveness 
        of the policies, organizational structures, and services of the 
        Department in assisting veterans in readjusting to civilian 
        life; and
            ``(iv) provide on-going advice on the most appropriate 
        means of responding to the readjustment needs of veterans in 
        the future.
    ``(B) In carrying out its duties under subparagraph (A), the 
Committee shall take into special account veterans of the Vietnam era, 
and the readjustment needs of such veterans.
    ``(c)(1) Not later than March 31 of each year, the Committee shall 
submit to the Secretary a report on the programs and activities of the 
Department that relate to the readjustment of veterans to civilian 
life. Each such report shall include--
            ``(A) an assessment of the needs of veterans with respect 
        to readjustment to civilian life;
            ``(B) a review of the programs and activities of the 
        Department designed to meet such needs; and
            ``(C) such recommendations (including recommendations for 
        administrative and legislative action) as the Committee 
        considers appropriate.
    ``(2) Not later than 90 days after the receipt of each report under 
paragraph (1), the Secretary shall transmit to the Committees on 
Veterans' Affairs of the Senate and House of Representatives a copy of 
the report, together with any comments and recommendations concerning 
the report that the Secretary considers appropriate.
    ``(3) The Committee may also submit to the Secretary such other 
reports and recommendations as the Committee considers appropriate.
    ``(4) The Secretary shall submit with each annual report submitted 
to the Congress pursuant to section 529 of this title a summary of all 
reports and recommendations of the Committee submitted to the Secretary 
since the previous annual report of the Secretary submitted pursuant to 
that section.
    ``(d)(1) Except as provided in paragraph (2), the provisions of the 
Federal Advisory Committee Act (5 U.S.C. App.) shall apply to the 
activities of the Committee under this section.
    ``(2) Section 14 of such Act shall not apply to the Committee.''.
    (2) The table of sections at the beginning of chapter 17 of such 
title is amended by inserting after the item relating to section 1712B 
the following:

``1712C. Advisory Committee on the Readjustment of Veterans.''.
    (b) Original Members.--(1) Notwithstanding subsection (a)(2) of 
section 1712C of such title (as added by subsection (a)), the members 
of the Advisory Committee on the Readjustment of Vietnam and Other War 
Veterans on the date of the enactment of this Act shall be the original 
members of the advisory committee recognized under such section.
    (2) The original members shall so serve until the Secretary of 
Veterans Affairs carries out appointments under such subsection (a)(2). 
The Secretary shall carry out such appointments as soon after such date 
as is practicable. The Secretary may make such appointments from among 
such original members.

SEC. 6. PLAN FOR EXPANSION OF VIETNAM VETERAN RESOURCE CENTER PILOT 
              PROGRAM.

    (a) Requirement.--(1) The Secretary of Veterans Affairs shall 
submit to the Committees on Veterans' Affairs of the Senate and House 
of Representatives a plan for the expansion of the Vietnam Veteran 
Resource Center program established pursuant to the amendment made by 
section 105 of the Veterans' Administration Health-Care Amendments of 
1985 (Public Law 99-166; 99 Stat. 944). The plan shall include a 
schedule for, and an assessment of the cost of, the implementation of 
the program at or through all Department of Veterans Affairs 
readjustment counseling centers.
    (2) The Secretary shall submit the plan not later than 4 months 
after the date of the enactment of this Act.
    (b) Definition.--In this section, the term ``Department of Veterans 
Affairs readjustment counseling centers'' has the same meaning given 
the term ``center'' in section 1712A(i)(1) of title 38, United States 
Code.

SEC. 7. REPORT ON COLLOCATION OF VET CENTERS AND DEPARTMENT OF VETERANS 
              AFFAIRS OUTPATIENT CLINICS.

    (a) Requirement.--(1) The Secretary of Veterans Affairs shall 
submit to the Committees on Veterans' Affairs of the Senate and House 
of Representatives a report on the feasibility and desirability of the 
collocation of Vet Centers and outpatient clinics (including rural 
mobile clinics) of the Department of Veterans Affairs as current leases 
for such centers and clinics expire.
    (2) The Secretary shall submit the report not later than 6 months 
after the date of the enactment of this Act.
    (b) Covered Matters.--The report under this section shall include 
an assessment of the following:
            (1) The results of any collocation of Vet Centers and 
        outpatient clinics carried out by the Secretary before the date 
        of the enactment of this Act, including the effects of such 
        collocation on the quality of care provided at such centers and 
        clinics.
            (2) The effect of such collocation on the capacity of such 
        centers to carry out their primary mission.
            (3) The extent to which such collocation will impair the 
        operational independence or administrative integrity of such 
        centers.
            (4) The feasibility of combining the services provided by 
        such centers and clinics in the course of the collocation of 
        such centers and clinics.
            (5) The advisability of the collocation of centers and 
        clinics of significantly different size.
            (6) The effect of the locations (including urban and rural 
        locations) of the centers and clinics on the feasibility and 
        desirability of such collocation.
            (7) The amount of any costs savings to be achieved by 
        Department as a result of such collocation.
            (8) The desirability of such collocation in light of plans 
        for the provision of health care services by the Department 
        under national health care reform.
            (9) Any other matters that the Secretary determines 
        appropriate.

SEC. 8. VET CENTER HEALTH CARE PILOT PROGRAM.

    (a) In General.--The Secretary of Veterans Affairs shall carry out 
a pilot program for the provision of health-related services to 
eligible veterans at readjustment counseling centers. The Secretary 
shall carry out the pilot program in accordance with this section.
    (b) Services.--(1) In carrying out the pilot program, the Secretary 
shall provide the services referred to in paragraph (2) at not less 
than 10 readjustment counseling centers in existence on the date of the 
enactment of this Act.
    (2) The Secretary shall provide basic ambulatory services and 
health care screening services by such personnel as the Secretary 
considers appropriate at each readjustment counseling center under the 
pilot program. The Secretary shall assign not less than one-half of a 
full-time employee equivalent at each such center in order to provide 
such services under the pilot program.
    (3) In determining the location of the readjustment counseling 
centers at which to provide services under the pilot program, the 
Secretary shall select centers that are located in a variety of 
geographic areas and that serve veterans of a variety of economic, 
social, and ethnic backgrounds.
    (c) Period of Operation.--(1) The Secretary shall commence the 
provision of health-related services at readjustment counseling centers 
under the pilot program not later than 4 months after the date of the 
enactment of this Act.
    (2) The pilot program shall terminate 2 years after the date on 
which the Secretary commences the provision of services under paragraph 
(1).
    (d) Report.--(1) The Secretary shall submit to Congress a report on 
the pilot program established under this section. The report shall 
include the following:
            (A) A description of the program, including information 
        on--
                    (i) the number of veterans provided basic 
                ambulatory services and health care screening services 
                under the pilot program;
                    (ii) the number of such veterans referred to 
                Department of Veterans Affairs general health-care 
                facilities in order to provide such services to such 
                veterans; and
                    (iii) the cost to the Department of Veterans 
                Affairs of the pilot program.
            (B) An analysis of the effectiveness of the services 
        provided to veterans under the pilot program.
            (C) The recommendations of the Secretary for means of 
        improving the pilot program, and an estimate of the cost to the 
        Department of implementing such recommendations.
            (D) An assessment of the desirability of expanding the type 
        or nature of services provided under the pilot program in light 
        of plans for the provision of health care services by the 
        Department under national health care reform.
            (E) An assessment of the extent to which the provision of 
        services under the pilot program impairs the operational or 
        administrative independence of the readjustment counseling 
        centers at which such services are provided.
            (F) An assessment of the effect of the location of the 
        centers on the effectiveness for the Department and for 
        veterans of the services provided under the pilot program.
            (G) Such other information as the Secretary considers 
        appropriate.
    (2) The Secretary shall submit the report not later than 18 months 
after the date of the enactment of this Act.
    (e) Definitions.--For the purposes of this section:
            (1) The term ``Department of Veterans Affairs general 
        health-care facility'' has the meaning given such term in 
        section 1712A(i)(2) of title 38, United States Code.
            (2) The term ``eligible veteran'' means any veteran 
        eligible for outpatient services under paragraph (1), (2), or 
        (3) of section 1712(a) of such title.
            (3) The term ``readjustment counseling center'' has the 
        same meaning given the term ``center'' in section 1712A(i)(1) 
        of such title.
                                 
S 403 IS----2

A: Readjustment Counseling Service Amendments of 1995 - Includes a Readjustment Counseling Service (RCS) as part of the Veterans Health Administration of the Department of Veterans Affairs.  Prohibits the Secretary of Veterans Affairs from altering or revising the organizational structure of RCS until the Secretary has notified specified congressional committees and 60 days have elapsed since such notification.  Requires RCS budget information to be included annually in the President's budget submitted to the Congress. 
Outlines eligibility requirements for one of the Assistant Under Secretaries for Health in the Department, including at least three years of clinical experience and two years of administrative experience in RCS or other comparable mental health care counseling service.  Makes such a qualified person the director of RCS. 
Increases from eight to nine the authorized number of Assistant Under Secretaries for Health. 
Directs the Secretary to furnish readjustment counseling to any veteran who:  (1) served on active duty during the Vietnam era; or (2) served on active duty in a theater of combat during a period of war (currently, only after May 7, 1975) in any area in which hostilities occurred.  Authorizes the Secretary to furnish such assistance to any other veteran upon request.   Directs the Secretary to provide counseling to survivors and dependents of members of the armed forces killed while performing such duty.  Allows the Secretary to provide such counseling to the survivors and dependents of other members killed during active duty or from a condition incurred in or aggravated by such service. 
Establishes in the Department the Advisory Committee on the Readjustment of Veterans to perform advisory services with respect to veterans' readjustment, taking into special account Vietnam era veterans.  Requires specified reports from the Advisory Committee and the Secretary. 
Directs the Secretary to report to the congressional veterans' affairs committees: (1) a plan for the expansion of the Vietnam Veteran Resource Center program; and (2) on the feasibility and desirability of the collocation of Vet Centers and outpatient clinics of the Department as current leases for such centers and clinics expire. 
Directs the Secretary to carry out and report to the Congress on a pilot program for the provision of health-related services to eligible veterans at readjustment counseling centers.
****
Q: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Equitable Treatment of Investors 
Act''.

SEC. 2. SECURITIES INVESTOR PROTECTION ACT OF 1970 AMENDMENTS.

    (a) Net Equity Based on Last Statement.--Section 16(11) of the 
Securities Investor Protection Act of 1970 (15 U.S.C. 78lll(11)) is 
amended to read as follows:
            ``(11) Net equity.--
                    ``(A) In general.--The term `net equity' means the 
                dollar amount of the account or accounts of a customer, 
                to be determined by--
                            ``(i) calculating the sum which would have 
                        been owed by the debtor to such customer if the 
                        debtor had liquidated, by sale or purchase on 
                        the filing date--
                                    ``(I) all securities positions of 
                                such customer (other than customer name 
                                securities reclaimed by such customer); 
                                and
                                    ``(II) all positions in futures 
                                contracts and options on futures 
                                contracts held in a portfolio margining 
                                account carried as a securities account 
                                pursuant to a portfolio margining 
                                program approved by the Commission, 
                                including all property collateralizing 
                                such positions, to the extent that such 
                                property is not otherwise included 
                                herein; minus
                            ``(ii) any indebtedness of such customer to 
                        the debtor on the filing date; plus
                            ``(iii) any payment by such customer of 
                        such indebtedness to the debtor which is made 
                        with the approval of the trustee and within 
                        such period as the trustee may determine (but 
                        in no event more than sixty days after the 
                        publication of notice under section 8(a)).
                    ``(B) Treatment of certain commodity futures 
                contracts.--A claim for a commodity futures contract 
                received, acquired, or held in a portfolio margining 
                account pursuant to a portfolio margining program 
                approved by the Commission or a claim for a security 
                futures contract, shall be deemed to be a claim with 
                respect to such contract as of the filing date, and 
                such claim shall be treated as a claim for cash.
                    ``(C) Treatment of accounts held by a customer in 
                separate capacities.--In determining net equity under 
                this paragraph, accounts held by a customer in separate 
                capacities shall be deemed to be accounts of separate 
                customers.
                    ``(D) Reliance on final customer statement.--
                            ``(i) In general.--In determining net 
                        equity under this paragraph, the positions, 
                        options, and contracts of a customer held by 
                        the debtor, and any indebtedness of the 
                        customer to the debtor, shall be determined 
                        based on--
                                    ``(I) the information contained in 
                                the last statement received by the 
                                customer from the debtor before the 
                                filing date; and
                                    ``(II) any additional specific 
                                confirmations of the customer's 
                                positions, options, contracts, or 
                                indebtedness received after such last 
                                statement but before the filing date.
                            ``(ii) Fraud exception.--The provisions of 
                        this subparagraph shall not apply to any 
                        customer that--
                                    ``(I) knew the debtor was involved 
                                in fraudulent activity with respect to 
                                any customer of the debtor; or
                                    ``(II) was a person that--
                                            ``(aa) was, or was required 
                                        to be, registered with the 
                                        Securities and Exchange 
                                        Commission under the securities 
                                        laws (as such term is defined 
                                        under section 3(a) of the 
                                        Securities Exchange Act of 1934 
                                        (15 U.S.C. 78c(a)));
                                            ``(bb) knew, or should have 
                                        known, that the debtor was 
                                        involved in fraudulent activity 
                                        with respect to any customer of 
                                        the debtor; and
                                            ``(cc) did not notify SIPC, 
                                        the Commission, or law 
                                        enforcement personnel that the 
                                        debtor was involved in such 
                                        fraudulent activity.''.
    (b) Prohibition on Certain Recoveries.--Section 8 of the Securities 
Investor Protection Act of 1970 (15 U.S.C. 78fff-2) is amended by 
adding at the end the following new subsection:
    ``(g) Prohibition on Certain Recoveries.--Notwithstanding any other 
provision of this Act, a trustee may not recover any property 
transferred by the debtor to a customer before the filing date unless, 
at the time of such transfer, such customer--
            ``(1) knew the debtor was involved in fraudulent activity 
        with respect to any customer of the debtor; or
            ``(2) was a person that--
                    ``(A) was, or was required to be, registered with 
                the Securities and Exchange Commission under the 
                securities laws (as such term is defined under section 
                3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 
                78c(a)));
                    ``(B) knew, or should have known, that the debtor 
                was involved in fraudulent activity with respect to any 
                customer of the debtor; and
                    ``(C) did not notify SIPC, the Commission, or law 
                enforcement personnel that the debtor was involved in 
                such fraudulent activity.''.
    (c) Appointment of Trustees.--
            (1) In general.--Section 5(b)(3) of the Securities Investor 
        Protection Act of 1970 (15 U.S.C. 78eee(b)(3)) is amended to 
        read as follows:
            ``(3) Appointment of trustee and attorney.--
                    ``(A) In general.--If the court issues a protective 
                decree under paragraph (1), such court shall forthwith 
                appoint, as trustee for the liquidation of the business 
                of the debtor and as attorney for the trustee, such 
                persons as the court determines best fit to serve as 
                trustee and as attorney from among the persons selected 
                by the Commission pursuant to subparagraph (B). The 
                persons appointed as trustee and as attorney for the 
                trustee may be associated with the same firm.
                    ``(B) Commission candidates.--With respect to a 
                debtor and upon the court issuing a protective decree 
                under paragraph (1), the Commission shall forthwith 
                provide the court with a list of candidates for the 
                position of trustee and attorney for the trustee for 
                such debtor.
                    ``(C) Disinterest requirement.--No person may be 
                appointed to serve as trustee or attorney for the 
                trustee if such person is not disinterested within the 
                meaning of paragraph (6), except that for any specified 
                purpose other than to represent a trustee in conducting 
                a liquidation proceeding, the trustee may, with the 
                approval of SIPC and the court, employ an attorney who 
                is not disinterested.
                    ``(D) Qualification.--A trustee appointed under 
                this paragraph shall qualify by filing a bond in the 
                manner prescribed by section 322 of title 11, United 
                States Code.''.
            (2) Effective date.--The amendment made by paragraph (1) 
        shall take effect with respect to trustees and attorneys 
        appointed after the date of the enactment of this Act.

SEC. 3. EFFECTIVE DATE.

    Except as provided under section 2(c)(2), the amendments made by 
section 2 shall take effect with respect to a liquidation proceeding 
under the Securities Investor Protection Act of 1970 that--
            (1) was in progress on the date of the enactment of this 
        Act; or
            (2) is initiated after the date of the enactment of this 
        Act.

A: Equitable Treatment of Investors Act - Amends the Securities Investor Protection Act of 1970 to revise the definition of "net equity."

Declares also that, in determining net equity, the positions, options, and contracts of a customer held by the debtor, and any indebtedness of the customer to the debtor, shall be determined based on: (1) the information contained in the last statement received by the customer from the debtor before the filing date; and (2) any additional specific confirmations of the customer's positions, options, contracts, or indebtedness received after such last statement but before the filing date.

Prohibits reliance on the final statement of the debtor to customer, however, if the customer: (1) knew the debtor was involved in fraudulent activity with respect to any of its customers; or (2) as a registrant under the securities laws, or a person required to be so registered, knew, or should have known, that the debtor was involved in such a fraudulent activity and did not notify the Securities Investor Protection Corporation (SIPC), the Securities Exchange Commission (SEC), or law enforcement personnel that the debtor was so involved.

Prohibits a trustee in a liquidation proceeding from recovering any property transferred by the debtor to a customer before the filing date unless, at the time of such transfer, the customer meets the same critieria.

Transfers from SIPC to the SEC authority to nominate to a court persons for appointment as trustee for the liquidation of a debtor's business and as attorney for the trustee.
****
Q: SECTION 1. INVESTIGATIONS BY THE FEDERAL ENERGY REGULATORY COMMISSION 
              UNDER THE NATURAL GAS ACT AND FEDERAL POWER ACT.

    (a) Investigations Under the Natural Gas Act.--Section 14(c) of the 
Natural Gas Act (15 U.S.C. 717m(c)) is amended--
            (1) by striking ``(c) For the purpose of'' and inserting 
        the following:
    ``(c) Taking of Evidence.--
            ``(1) In general.--For the purpose of'';
            (2) by striking ``Such attendance'' and inserting the 
        following:
            ``(2) No geographic limitation.--The attendance'';
            (3) by striking ``Witnesses summoned'' and inserting the 
        following:
            ``(3) Expenses.--Any witness summoned''; and
            (4) by adding at the end the following:
            ``(4) Exclusive authority.--Notwithstanding any other 
        provision of law, the exercise of the authorities of the 
        Commission under this subsection shall not be subject to the 
        consent of the Office of Management and Budget or any other 
        Federal agency.''.
    (a) Investigations Under the Federal Power Act.--Section 307(b) of 
the Federal Power Act (16 U.S.C. 825f(b)) is amended--
            (1) by striking ``(b) For the purpose of'' and inserting 
        the following:
    ``(b) Taking of Evidence.--
            ``(1) In general.--For the purpose of'';
            (2) by striking ``Such attendance'' and inserting the 
        following:
            ``(2) No geographic limitation.--The attendance'';
            (3) by striking ``Witnesses summoned'' and inserting the 
        following:
            ``(3) Expenses.--Any witness summoned''; and
            (4) by adding at the end the following:
            ``(4) Exclusive authority.--Notwithstanding any other 
        provision of law, the exercise of the authorities of the 
        Commission under this subsection shall not be subject to the 
        consent of the Office of Management and Budget or any other 
        Federal agency.''.

SEC. 2. INCREASE IN CRIMINAL PENALTIES UNDER THE NATURAL GAS ACT AND 
              FEDERAL POWER ACT.

    (a) Criminal Penalties Under the Natural Gas Act.--Section 21 of 
the Natural Gas Act (15 U.S.C. 717t) is amended--
            (1) in subsection (a), by striking ``punished by a fine of 
        not more than $5,000 or by imprisonment for not more than two 
        years, or both'' and inserting ``imprisoned not more than 5 
        years, fined not more than $1,000,000, or both''; and
            (2) in subsection (b), by striking ``$500 for each and 
        every day during which such offense occurs'' and inserting 
        ``$50,000 for each day of each violation''.
    (b) Criminal Penalties Under the Federal Power Act.--
            (1) General Penalties.--Section 316 of the Federal Power 
        Act (16 U.S.C. 825o) is amended--
                    (A) in subsection (a), by striking ``punished by a 
                fine of not more than $5,000 or by imprisonment for not 
                more than two years or both'' and inserting 
                ``imprisoned not more than 5 years, fined not more than 
                $1,000,000, or both''; and
                    (B) in subsection (b), by striking ``$500 for each 
                and every day during which such offense occurs'' and 
                inserting ``$50,000 for each day of each violation''.
            (2) Enforcement of certain provisions.--Section 316A of the 
        Federal Power Act (16 U.S.C. 825o-1) is amended--
                    (A) by striking subsection (a) and inserting the 
                following:
    ``(a) Violations.--It shall be unlawful for any person--
            ``(1) to violate any provision of part II (including any 
        rule or order issued under a provision of that part); or
            ``(2) to fail to comply, within a time period specified by 
        the Commission, with--
                    ``(A) any written request by the Commission or a 
                member of the staff of the Commission for information; 
                or
                    ``(B) a formal investigation or proceeding under 
                this part.''; and
                    (B) in subsection (b)--
                            (i) by striking ``section 211, 212, 213 or 
                        214 or any provision of any rule or order 
                        thereunder'' and inserting the following: 
                        ``part II (including any rule or order issued 
                        under a provision of that part) or fails to 
                        comply in a timely manner with any written 
                        request for information by the Commission or a 
                        member of the staff of the Commission or in a 
                        formal investigation or proceeding under this 
                        part''; and
                            (ii) by striking ``$10,000 for each day 
                        that such violation continues'' and inserting 
                        ``$50,000 for each day of each violation''.

SEC. 3. CONSULTING SERVICES.

    Title IV of the Department of Energy Organization Act (42 U.S.C. 
7171 et seq.) is amended by adding at the end the following:

``SEC. 408. CONSULTING SERVICES.

    ``(a) In General.--The Chairman may contract for the services of 
consultants to assist the Commission in carrying out any 
responsibilities of the Commission under this Act, the Federal Power 
Act (16 U.S.C. 791a et seq.), or the Natural Gas Act (15 U.S.C. 717 et 
seq.).
    ``(b) Applicable Law.--In contracting for consultant services under 
subsection (a), if the Chairman determines that the contract is in the 
public interest, the Chairman, in entering into a contract, shall not 
be subject to--
            ``(1) section 5, 253, 253a, or 253b of title 41, United 
        States Code; or
            ``(2) any law (including a regulation) relating to 
        conflicts of interest.''.

A:
Amends the Natural Gas Act and the Federal Power Act to: (1) provide that the Federal Energy Regulatory Commission (FERC) is not subject to the consent of the Office of Management and Budget or any other Federal agency when it elects to exercise its investigative authority; and (2) increase criminal penalties for violations of these Acts.Amends the Department of Energy Organization Act to authorize the Chairman of FERC to contract for consultant services to assist the Commission in carrying out its responsibilities.States that in contracting for those services the Chairman shall not be subject to any law relating to conflicts of interest.
****