Source: https://law.justia.com/codes/us/2017/title-15/chapter-2d/subchapter-ii/sec.-80b-4/
Timestamp: 2020-07-09 15:34:07
Document Index: 547446389

Matched Legal Cases: ['§ 80', '§ 80', '§80', '§204', '§6', '§29', '§7', '§404', '§929', '§404', '§929', '§404']

15 U.S.C. § 80b-4 (2017) - Reports by investment advisers :: 2017 US Code :: US Codes and Statutes :: US Law :: Justia
Justia › US Law › US Codes and Statutes › US Code › 2017 US Code › Title 15 - Commerce and Trade › Chapter 2D - Investment Companies and Advisers › Subchapter II - Investment Advisers › Sec. 80b-4 - Reports by investment advisers
Sec. 80b-4 - Reports by investment advisers
Citation 15 U.S.C. § 80b-4 (2017)
Section Name §80b–4. Reports by investment advisers
(b) Records and reports of private funds (1) In general
The Commission may require any investment adviser registered under this subchapter—
(A) to maintain such records of, and file with the Commission such reports regarding, private funds advised by the investment adviser, as necessary and appropriate in the public interest and for the protection of investors, or for the assessment of systemic risk by the Financial Stability Oversight Council (in this subsection referred to as the "Council"); and
(3) Required information
The records and reports required to be maintained by an investment adviser and subject to inspection by the Commission under this subsection shall include, for each private fund advised by the investment adviser, a description of—
(6) Examination of records (A) Periodic and special examinations
(i) shall conduct periodic inspections of the records of private funds maintained by an investment adviser registered under this subchapter in accordance with a schedule established by the Commission; and
(7) Information sharing (A) In general
The Council shall maintain the confidentiality of information received under this paragraph in all such reports, documents, records, and information, in a manner consistent with the level of confidentiality established for the Commission pursuant to paragraph (8). The Council shall be exempt from section 552 of title 5 with respect to any information in any report, document, record, or information made available, to the Council under this subsection.".1
(8) Commission confidentiality of reports
Notwithstanding any other provision of law, the Commission may not be compelled to disclose any report or information contained therein required to be filed with the Commission under this subsection, except that nothing in this subsection authorizes the Commission—
(B) prevent 2 the Commission from complying with—
(ii) an order of a court of the United States in an action brought by the United States or the Commission.
(10) Public information exception (A) In general
(B) Proprietary information
For purposes of this paragraph, proprietary information includes sensitive, non-public information regarding—
(c) Filing depositories
The Commission may, by rule, require an investment adviser—
(1) to file with the Commission any fee, application, report, or notice required to be filed by this subchapter or the rules issued under this subchapter through any entity designated by the Commission for that purpose; and
(d) Access to disciplinary and other information (1) Maintenance of system to respond to inquiries (A) In general
(d) 3 Records of persons with custody or use (1) In general
(Aug. 22, 1940, ch. 686, title II, §204, 54 Stat. 852; Pub. L. 86–750, §6, Sept. 13, 1960, 74 Stat. 886; Pub. L. 94–29, §29(5), June 4, 1975, 89 Stat. 169; Pub. L. 109–290, §7(a), Sept. 29, 2006, 120 Stat. 1321; Pub. L. 111–203, title IV, §404, title IX, §929Q(b), July 21, 2010, 124 Stat. 1571, 1866.)
2010—Subsecs. (b), (c). Pub. L. 111–203, §404, added subsec. (b) and redesignated former subsec. (b) as (c). Former subsec. (c) redesignated (d) relating to access to disciplinary and other information.
Subsec. (d). Pub. L. 111–203, §929Q(b), added subsec. (d) relating to records of persons with custody or use.
Pub. L. 111–203, §404(1), redesignated subsec. (c) as (d) relating to access to disciplinary and other information.
1975—Pub. L. 94–29 substituted "make and keep for prescribed periods such records (as defined in section 78c(a)(37) of this title), furnish such copies thereof, and make and disseminate such reports as the Commission, by rule, may prescribe as necessary or appropriate in the public interest or for the protection of investors. All records (as so defined) of such investment advisers are subject at any time, or from time to time, to such reasonable periodic, special, or other examinations by representatives of the Commission as the Commission deems necessary or appropriate in the public interest or for the protection of investors" for "make, keep, and preserve for such periods, such accounts, correspondence, memorandums, papers, books, and other records, and make such reports, as the Commission by its rules and regulations may prescribe as necessary or appropriate in the public interest or for the protection of investors. Such accounts, correspondence, memorandums, papers, books, and other records shall be subject at any time or from time to time to such reasonable periodic, special, or other examinations by examiners or other representatives of the Commission as the Commission may deem necessary or appropriate in the public interest or for the protection of investors".
1960—Pub. L. 86–750 substituted provisions requiring investment advisers who make business use of the mails or any instrument of interstate commerce, unless exempted from registration by section 80b–3(b) of this title, to keep and preserve accounts, correspondence, memorandums, papers, books, and records, and make such reports as the Commission requires by its rules and regulations, and that these accounts, correspondence, memorandums, papers, books and records shall be subject to examination by representatives of the Commission, for provisions requiring investment advisers registered under section 80b–3 of this title to file annual and special reports in such form as the Commission prescribed by its rules and regulations to keep current the information contained in the registration application.
1 So in original. The quotation marks and period probably should not appear.
2 So in original. Probably should be preceded by "to".
3 So in original. Probably should be "(e)".
Contains section 80b-4
Statutes at Large References 54 Stat. 852
74 Stat. 886
89 Stat. 169
120 Stat. 1321
124 Stat. 1571
Public Law References Public Law 86-750, Public Law 94-29, Public Law 109-290, Public Law 111-203