Source: https://casetext.com/statute/united-states-code/title-15-commerce-and-trade/chapter-2b-securities-exchanges/section-78m-periodical-and-other-reports
Timestamp: 2019-07-24 06:53:04
Document Index: 439340300

Matched Legal Cases: ['§ 78', '§ 78', '§13', '§4', '§2', '§1', '§10', '§308', '§102', '§202', '§2', '§315', '§12', '§5002', '§3', '§5', '§109', '§109', '§401', '§109', '§982', '§763', '§929', '§1502', '§102', '§219', '§86001', '§77', '§80', '§2', '§1811', '§1', '§86001', '§86001', '§86001', '§985', '§982', '§109', '§929', '§766', '§929', '§991', '§991', '§991', '§766', '§929', '§929', '§766', '§929', '§763', '§766', '§1502', '§1504', '§109', '§109', '§109', '§982', '§5', '§5', '§401', '§402', '§409', '§315', '§316', '§102', '§202', '§203', '§1', '§1', '§2', '§219', '§761', '§508', '§72001', '§939', '§1502', '§3', '§241']

Section 78m - Periodical and other reports, 15 U.S.C. § 78m | Casetext
15 U.S.C. § 78m
Section 78m - Periodical and other reports
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Every issuer of a security registered on a national securities exchange shall also file a duplicate original of such information, documents, and reports with the exchange. In any registration statement, periodic report, or other reports to be filed with the Commission, an emerging growth company need not present selected financial data in accordance with section 229.301 of title 17, Code of Federal Regulations, for any period prior to the earliest audited period presented in connection with its first registration statement that became effective under this chapter or the Securities Act of 1933 [ 15 U.S.C. 77a et seq.] and, with respect to any such statement or reports, an emerging growth company may not be required to comply with any new or revised financial accounting standard until such date that a company that is not an issuer (as defined under section 7201 of this title) is required to comply with such new or revised accounting standard, if such standard applies to companies that are not issuers.
(1) Any person who, after acquiring directly or indirectly the beneficial ownership of any equity security of a class which is registered pursuant to section 78l of this title, or any equity security of an insurance company which would have been required to be so registered except for the exemption contained in section 78l(g)(2)(G) of this title, or any equity security issued by a closed-end investment company registered under the Investment Company Act of 1940 [ 15 U.S.C. 80a-1 et seq.] or any equity security issued by a Native Corporation pursuant to section 1629c(d)(6) of title 43, or otherwise becomes or is deemed to become a beneficial owner of any of the foregoing upon the purchase or sale of a security-based swap that the Commission may define by rule, and is directly or indirectly the beneficial owner of more than 5 per centum of such class shall, within ten days after such acquisition or within such shorter time as the Commission may establish by rule, file with the Commission, a statement containing such of the following information, and such additional information, as the Commission may by rules and regulations, prescribe as necessary or appropriate in the public interest or for the protection of investors-
(A) any acquisition or offer to acquire securities made or proposed to be made by means of a registration statement under the Securities Act of 1933 [ 15 U.S.C. 77a et seq.];
(1) It shall be unlawful for an issuer which has a class of equity securities registered pursuant to section 78l of this title, or which is a closed-end investment company registered under the Investment Company Act of 1940 [ 15 U.S.C. 80a-1 et seq.], to purchase any equity security issued by it if such purchase is in contravention of such rules and regulations as the Commission, in the public interest or for the protection of investors, may adopt (A) to define acts and practices which are fraudulent, deceptive, or manipulative, and (B) to prescribe means reasonably designed to prevent such acts and practices. Such rules and regulations may require such issuer to provide holders of equity securities of such class with such information relating to the reasons for such purchase, the source of funds, the number of shares to be purchased, the price to be paid for such securities, the method of purchase, and such additional information, as the Commission deems necessary or appropriate in the public interest or for the protection of investors, or which the Commission deems to be material to a determination whether such security should be sold.
(3) At the time of filing such statement as the Commission may require by rule pursuant to paragraph (1) of this subsection, the person making the filing shall pay to the Commission a fee at a rate that, subject to paragraph (4), is equal to $92 1 per $1,000,000 of the value of securities proposed to be purchased. The fee shall be reduced with respect to securities in an amount equal to any fee paid with respect to any securities issued in connection with the proposed transaction under section 6(b) of the Securities Act of 1933 [ 15 U.S.C. 77f(b) ], or the fee paid under that section shall be reduced in an amount equal to the fee paid to the Commission in connection with such transaction under this paragraph.
(4) ANNUAL ADJUSTMENT.-For each fiscal year, the Commission shall by order adjust the rate required by paragraph (3) for such fiscal year to a rate that is equal to the rate (expressed in dollars per million) that is applicable under section 6(b) of the Securities Act of 1933 [ 15 U.S.C. 77f(b) ] for such fiscal year.
(6) EFFECTIVE DATE; PUBLICATION.-In exercising its authority under this subsection, the Commission shall not be required to comply with the provisions of section 553 of title 5. An adjusted rate prescribed under paragraph (4) shall be published and take effect in accordance with section 6(b) of the Securities Act of 1933 ( 15 U.S.C. 77f(b) ).
(5) In exercising its authority under this subsection, the Commission shall determine (and so state) that its action is necessary or appropriate in the public interest and for the protection of investors or to maintain fair and orderly markets or, in granting an exemption, that its action is consistent with the protection of investors and the purposes of this subsection. In exercising such authority the Commission shall take such steps as are within its power, including consulting with the Comptroller General of the United States, the Director of the Office of Management and Budget, the appropriate regulatory agencies, Federal and State authorities which, directly or indirectly, require reports from institutional investment managers of information substantially similar to that called for by this subsection, national securities exchanges, and registered securities associations, (A) to achieve uniform, centralized reporting of information concerning the securities holdings of and transactions by or for accounts with respect to which institutional investment managers exercise investment discretion, and (B) consistently with the objective set forth in the preceding subparagraph, to avoid unnecessarily duplicative reporting by, and minimize the compliance burden on, institutional investment managers. Federal authorities which, directly or indirectly, require reports from institutional investment managers of information substantially similar to that called for by this subsection shall cooperate with the Commission in the performance of its responsibilities under the preceding sentence. An institutional investment manager which is a bank, the deposits of which are insured in accordance with the Federal Deposit Insurance Act [ 12 U.S.C. 1811 et seq.], shall file with the appropriate regulatory agency a copy of every report filed with the Commission pursuant to this subsection.
(A) For purposes of this subsection the term "institutional investment manager" includes any person, other than a natural person, investing in or buying and selling securities for its own account, and any person exercising investment discretion with respect to the account of any other person.
Each issuer reporting under subsec.
(a) or section 78o(d) of this title shall disclose to the public on a rapid and current basis such additional information concerning material changes in the financial condition or operations of the issuer, in plain English, which may include trend and qualitative information and graphic presentations, as the Commission determines, by rule, is necessary or useful for the protection of investors and in the public interest.
(i) With respect to those security-based swaps that are subject to the mandatory clearing requirement described in section 78c-3(a)(1) of this title (including those security-based swaps that are excepted from the requirement pursuant to section 78c-3(g) of this title), the Commission shall require real-time public reporting for such transactions.
(ii) With respect to those security-based swaps that are not subject to the mandatory clearing requirement described in section 78c-3(a)(1) of this title, but are cleared at a registered clearing agency, the Commission shall require real-time public reporting for such transactions.
(iii) With respect to security-based swaps that are not cleared at a registered clearing agency and which are reported to a security-based swap data repository or the Commission under section 78c-3(a)(6) of this title,3 the Commission shall require real-time public reporting for such transactions, in a manner that does not disclose the business transactions and market positions of any person.
(iv) With respect to security-based swaps that are determined to be required to be cleared under section 78c-3(b) of this title but are not cleared, the Commission shall require real-time public reporting for such transactions.
(i) provide direct electronic access to the Commission (or any designee of the Commission, including another registered entity); and
Any person that is required to be registered as a security-based swap data repository under this subsection shall register with the Commission, regardless of whether that person is also licensed under the Commodity Exchange Act [ 7 U.S.C. 1 et seq.] as a swap data repository.
(A) knowingly engaged in an activity described in subsection (a) or (b) of section 5 of the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note);
(A) initiate an investigation into the possible imposition of sanctions under the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note), section 8513 or 8514a of title 22, an Executive order specified in clause (i) or (ii) of paragraph (1)(D), or any other provision of law relating to the imposition of sanctions with respect to Iran, as applicable; and
3 So in original. Section 78c-3(a) of this title does not contain a par. (6).
June 6, 1934, ch. 404, title I, §13, 48 Stat. 894; Pub. L. 88-467, §4, Aug. 20, 1964, 78 Stat. 569; Pub. L. 90-439, §2, July 29, 1968, 82 Stat. 454; Pub. L. 91-567, §§1, 2, Dec. 22, 1970, 84 Stat. 1497; Pub. L. 94-29, §10, June 4, 1975, 89 Stat. 119; Pub. L. 94-210, title III, §308(b), Feb. 5, 1976, 90 Stat. 57; Pub. L. 95-213, title I, §102, title II, §§202, 203, Dec. 19, 1977, 91 Stat. 1494, 1498, 1499; Pub. L. 98-38, §2(a), June 6, 1983, 97 Stat. 205; Pub. L. 100-181, title III, §§315, 316, Dec. 4, 1987, 101 Stat. 1256; Pub. L. 100-241, §12(d), Feb. 3, 1988, 101 Stat. 1810; Pub. L. 100-418, title V, §5002, Aug. 23, 1988, 102 Stat. 1415; Pub. L. 101-432, §3, Oct. 16, 1990, 104 Stat. 964; Pub. L. 107-123, §5, Jan. 16, 2002, 115 Stat. 2395; Pub. L. 107-204, title I, §109(i), formerly §109(h), title IV, §§401(a), 402(a), 409, July 30, 2002, 116 Stat. 771, 785, 787, 791, renumbered §109(i), Pub. L. 111-203, title IX, §982(h)(3), July 21, 2010, 124 Stat. 1930; Pub. L. 111-203, title VII, §§763(i), 766(b), (c), (e), title IX, §§929R(a), 929X(a), 985(b)(4), 991(b)(2), title XV, §§1502(b), 1504, July 21, 2010, 124 Stat. 1779, 1799, 1866, 1870, 1933, 1952, 2213, 2220; Pub. L. 112-106, title I, §102(b)(2), Apr. 5, 2012, 126 Stat. 309; Pub. L. 112-158, title II, §219(a), Aug. 10, 2012, 126 Stat. 1235; Pub. L. 114-94, div. G, title LXXXVI, §86001(c), Dec. 4, 2015, 129 Stat. 1798.
REFERENCES IN TEXTThis chapter, referred to in subsec. (a), was in the original "this Act", and this chapter, referred to in subsecs. (b)(1), (h)(1), (2), (4), (6), (i), and (n)(6)(B)(v), (C)(i)(I), (7)(A), was in the original "this title". See References in Text note set out under section 78a of this title.The Securities Act of 1933, referred to in subsecs. (a) and (d)(6)(A), is act May 27, 1933, ch. 38, title I, 48 Stat. 74, which is classified generally to subchapter I (§77a et seq.) of chapter 2A of this title. For complete classification of this Act to the Code, see section 77a of this title and Tables. The Investment Company Act of 1940, referred to in subsecs. (d)(1) and (e)(1), is title I of act Aug. 22, 1940, ch. 686, 54 Stat. 789, which is classified generally to subchapter I (§80a-1 et seq.) of chapter 2D of this title. For complete classification of this Act to the Code, see section 80a-51 of this title and Tables.The Federal Deposit Insurance Act, referred to in subsec. (f)(5), is act Sept. 21, 1950, ch. 967, §2, 64 Stat. 873, which is classified generally to chapter 16 (§1811 et seq.) of Title 12, Banks and Banking. For complete classification of this Act to the Code, see Short Title note set out under section 1811 of Title 12 and Tables.Section 7201 of this title, referred to in subsec. (k)(1), was in the original "section 2 of the Sarbanes-Oxley Act of 2002", Pub. L. 107-204, which enacted section 7201 of this title and amended section 78c of this title.The Commodity Exchange Act, referred to in subsec. (n)(8), 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.Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, referred to in subsec. (p)(5), is section 1502 of Pub. L. 111-203, which amended this section and enacted provisions set out as a note below.Executive Order No. 13224, referred to in subsec. (r)(1)(D)(i), is Ex. Ord. No. 13224, Sept. 23, 2001, 66 F.R. 49079, which is listed in a table under section 1701 of Title 50, War and National Defense.Executive Order No. 13382, referred to in subsec. (r)(1)(D)(ii), is Ex. Ord. No. 13382, June 28, 2005, 70 F.R. 38567, which is listed in a table under section 1701 of Title 50, War and National Defense.
AMENDMENTS 2015-Subsec. (n)(5)(G). Pub. L. 114-94, §86001(c)(1)(A), substituted "make available security-based swap" for "make available all" in introductory provisions.Subsec. (n)(5)(G)(v)(IV). Pub. L. 114-94, §86001(c)(1)(B), added subcl. (IV)Subsec. (n)(5)(H). Pub. L. 114-94, §86001(c)(2), added subpar. (H) and struck out former subpar. (H) which related to confidentiality and indemnification agreement.2012-Subsec. (a). Pub. L. 112-106 inserted at end of concluding provisions "In any registration statement, periodic report, or other reports to be filed with the Commission, an emerging growth company need not present selected financial data in accordance with section 229.301 of title 17, Code of Federal Regulations, for any period prior to the earliest audited period presented in connection with its first registration statement that became effective under this chapter or the Securities Act of 1933 and, with respect to any such statement or reports, an emerging growth company may not be required to comply with any new or revised financial accounting standard until such date that a company that is not an issuer (as defined under section 7201 of this title) is required to comply with such new or revised accounting standard, if such standard applies to companies that are not issuers."Subsec. (r). Pub. L. 112-158 added subsec. (r).2010-Subsec. (b)(1). Pub. L. 111-203, §985(b)(4), substituted "earnings statement" for "earning statement".Subsec. (b)(2)(C). Pub. L. 111-203, §982(h)(3), amended Pub. L. 107-204, §109. See 2002 Amendment note below.Subsec. (d)(1). Pub. L. 111-203, §929R(a)(1), in introductory provisions, inserted "or within such shorter time as the Commission may establish by rule" after "within ten days after such acquisition" and struck out "send to the issuer of the security at its principal executive office, by registered or certified mail, send to each exchange where the security is traded, and" before "file with the Commission".Pub. L. 111-203, §766(b)(1), in introductory provisions, inserted "or otherwise becomes or is deemed to become a beneficial owner of any of the foregoing upon the purchase or sale of a security-based swap that the Commission may define by rule, and" after "section 1629c(d)(6) of title 43,".Subsec. (d)(2). Pub. L. 111-203, §929R(a)(2), struck out "in the statements to the issuer and the exchange, and" after "facts set forth" and "shall be transmitted to the issuer and the exchange and" after "an amendment".Subsec. (e)(3). Pub. L. 111-203, §991(b)(2)(A), substituted "paragraph (4)" for "paragraphs (5) and (6)".Subsec. (e)(4) to (6). Pub. L. 111-203, §991(b)(2)(B), (C), added pars. (4) to (6) and struck out former pars. (4) to (6) which related to offsetting collections, annual adjustment of rate, and final rate adjustment, respectively.Subsec. (e)(8) to (10). Pub. L. 111-203, §991(b)(2)(D), struck out pars. (8) to (10) which related to review and effective date of adjusted rate, collection of fees upon lapse of appropriation, and publication of rate, respectively.Subsec. (f)(1). Pub. L. 111-203, §766(c), which directed insertion of "or otherwise becomes or is deemed to become a beneficial owner of any security of a class described in subsection (d)(1) upon the purchase or sale of a security-based swap that the Commission may define by rule," after "subsection (d)(1) of this section", was executed by making the insertion after "section 13(d)(1) of this title", which was translated to "subsection (d)(1) of this section", to reflect the probable intent of Congress.Subsec. (f)(2) to (6). Pub. L. 111-203, §929X(a), added par. (2) and redesignated former pars. (2) to (5) as (3) to (6), respectively.Subsec. (g)(1). Pub. L. 111-203, §929R(a)(3), struck out "shall send to the issuer of the security and" before "shall file" in introductory provisions. Pub. L. 111-203, §766(b)(2), in introductory provisions, inserted "or otherwise becomes or is deemed to become a beneficial owner of any security of a class described in subsection (d)(1) upon the purchase or sale of a security-based swap that the Commission may define by rule" after "subsection (d)(1) of this section".Subsec. (g)(2). Pub. L. 111-203, §929R(a)(4), struck out "sent to the issuer and" after "the statement" and "shall be transmitted to the issuer and" after "an amendment". Subsecs. (m), (n). Pub. L. 111-203, §763(i), added subsecs. (m) and (n).Subsec. (o). Pub. L. 111-203, §766(e), added subsec. (o).Subsec. (p). Pub. L. 111-203, §1502(b), added subsec. (p).Subsec. (q). Pub. L. 111-203, §1504, added subsec. (q).2002-Subsec. (b)(2)(C). Pub. L. 107-204, §109(i), formerly §109(h), renumbered §109(i) by Pub. L. 111-203, §982(h)(3), added subpar. (C).Subsec. (e)(3). Pub. L. 107-123, §5(1), substituted "a fee at a rate that, subject to paragraphs (5) and (6), is equal to $92 per $1,000,000 of the value of securities proposed to be purchased" for "a fee of 1/50 of 1 per centum of the value of securities proposed to be purchased".Subsec. (e)(4) to (10). Pub. L. 107-123, §5(2), added pars. (4) to (10). Subsecs. (i), (j). Pub. L. 107-204, §401(a), added subsecs. (i) and (j).Subsec. (k). Pub. L. 107-204, §402(a), added subsec. (k).Subsec. (l). Pub. L. 107-204, §409, added subsec. (l).1990-Subsec. (h). Pub. L. 101-432 added subsec. (h).1988-Subsec. (b)(4) to (7). Pub. L. 100-418 added pars. (4) to (7).Subsec. (d)(1). Pub. L. 100-241 inserted "or any equity security issued by a Native Corporation pursuant to section 1629c(d)(6) of title 43". 1987-Subsec. (c). Pub. L. 100-181, §315, struck out "of" after "thereof".Subsec. (h). Pub. L. 100-181, §316, struck out subsec. (h) which required Commission to report to Congress within thirty months of Dec. 19, 1977, with respect to effectiveness of ownership reporting requirements contained in this chapter and desirability and feasibility of reducing or otherwise modifying the 5 per centum threshold used in subsecs. (d)(1) and (g)(1) of this section. 1983-Subsec. (e)(3). Pub. L. 98-38 added par. (3).1977-Subsec. (b). Pub. L. 95-213, §102, designated existing provisions as par. (1) and added pars. (2) and (3).Subsec. (d)(1). Pub. L. 95-213, §202, inserted references to residence and citizenship of persons and to nature of beneficial ownership of persons in subpar. (A), and inserted references to background, identity, residence, and citizenship of associates of persons in subpar. (D).Subsecs. (g), (h). Pub. L. 95-213, §203, added subsecs. (g) and (h).1976-Subsec. (b). Pub. L. 94-210 substituted provisions relating to exceptions for inconsistent rules and regulations, for provisions relating to reporting requirements for carriers subject to the provisions of section 20 of title 49, or other carriers required to make reports of the same general character as those required under section 20 of title 49.1975-Subsec. (f). Pub. L. 94-29 added subsec. (f).1970-Subsec. (d)(1). Pub. L. 91-567, §1(a), included equity securities of insurance companies which would have been required to be registered except for the exemption contained in section 78l(g)(2)(G) of this title, and substituted "5 per centum" for "10 per centum".Subsec. (d)(5), (6). Pub. L. 91-567, §1(b), added par. (5) and redesignated former par. (5) as (6). Subsec. (e)(2). Pub. L. 91-567, §2, inserted provisions empowering the Commission to make rules and regulations implementing the paragraph in the public interest and for the protection of investors. 1968-Subsecs. (d), (e). Pub. L. 90-439 added subsecs. (d) and (e).1964-Subsec. (a). Pub. L. 88-467 substituted provisions which require the issuer of a security registered pursuant to section 78l of this title to file reports with the Commission rather than with the exchange and to furnish the exchange with duplicate originals and prohibit the Commission from requiring the filing of any material contract wholly executed before July 1, 1962 for former provisions which required the issuer of a security registered on a national securities exchange to file certain reports with the exchange and to file duplicates with the Commission.
EFFECTIVE DATE OF 2015 AMENDMENT Amendment by Pub. L. 114-94 effective as if enacted as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. 111-203, see section 86001(d) of Pub. L. 114-94, set out as a note under section 7a-1 of Title 7, Agriculture.
EFFECTIVE DATE OF 2012 AMENDMENTPub. L. 112-158, title II, §219(b), Aug. 10, 2012, 126 Stat. 1236, provided that: "The amendment made by subsection (a) [amending this section] shall take effect with respect to reports required to be filed with the Securities and Exchange Commission after the date that is 180 days after the date of the enactment of this Act [Aug. 10, 2012]."
EFFECTIVE DATE OF 2010 AMENDMENT Amendment by sections 929R(a), 929X(a), 982(h)(3), 985(b)(4), 1502(b), and 1504 of Pub. L. 111-203 effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111-203, set out as an Effective Date note under section 5301 of Title 12, Banks and Banking. Amendment by sections 763(i) and 766(b), (c), (e) of Pub. L. 111-203 effective on the later of 360 days after July 21, 2010, or, to the extent a provision of subtitle B (§§761-774) of title VII of Pub. L. 111-203 requires a rulemaking, not less than 60 days after publication of the final rule or regulation implementing such provision of subtitle B, see section 774 of Pub. L. 111-203, set out as a note under section 77b of this title.Amendment by section 991(b)(2) of Pub. L. 111-203 effective Oct. 1, 2011, see section 991(b)(4) of Pub. L. 111-203, set out as a note under section 77f of this title.
EFFECTIVE DATE OF 2002 AMENDMENT Amendment by Pub. L. 107-123 effective Oct. 1, 2001, except that authorities provided by subsec. (e)(9) of this section to not apply until Oct. 1, 2002, see section 11 of Pub. L. 107-123, set out as a note under section 78ee of this title.
EFFECTIVE DATE OF 1976 AMENDMENT Amendment by Pub. L. 94-210 not applicable to any report by any person with respect to a fiscal year of such person which began before Feb. 5, 1976, see section 308(d)(2) of Pub. L. 94-210, set out as a note under section 80a-3 of this title.
IMPROVING ACCESS TO CAPITALPub. L. 115-174, title V, §508, May 24, 2018, 132 Stat. 1364, provided that: "The Securities and Exchange Commission shall amend-"(1) section 230.251 of title 17, Code of Federal Regulations, to remove the requirement that the issuer not be subject to section 13 or 15(d) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq.) [ 15 U.S.C. 78 m, 78o(d) ] immediately before the offering; and"(2) section 230.257 of title 17, Code of Federal Regulations, with respect to an offering described in section 230.251(a)(2) of title 17, Code of Federal Regulations, to deem any issuer that is subject to section 13 or 15(d) of the Securities Exchange Act of 1934 as having met the periodic and current reporting requirements of section 230.257 of title 17, Code of Federal Regulations, if such issuer meets the reporting requirements of section 13 of the Securities Exchange Act of 1934."
SUMMARY PAGE FOR FORM 10-KPub. L. 114-94, div. G, title LXXII, §72001, Dec. 4, 2015, 129 Stat. 1784, provided that: "Not later than the end of the 180-day period beginning on the date of the enactment of this Act [Dec. 4, 2015], the Securities and Exchange Commission shall issue regulations to permit issuers to submit a summary page on form 10-K ( 17 CFR 249.310 ), but only if each item on such summary page includes a cross-reference (by electronic link or otherwise) to the material contained in form 10-K to which such item relates."
ELIMINATION OF EXEMPTION FROM FAIR DISCLOSURE RULEPub. L. 111-203, title IX, §939B, July 21, 2010, 124 Stat. 1887, provided that: "Not later than 90 days after the date of enactment of this subtitle [July 21, 2010], the Securities [and] Exchange Commission shall revise Regulation FD ( 17 C.F.R. 243.100 ) to remove from such regulation the exemption for entities whose primary business is the issuance of credit ratings ( 17 C.F.R. 243.100(b)(2)(iii) )."
CONFLICT MINERALSPub. L. 111-203, title XV, §1502, July 21, 2010, 124 Stat. 2213, as amended by Pub. L. 114-301, §3(b), Dec. 16, 2016, 130 Stat. 1515, provided that: "(a) SENSE OF CONGRESS ON EXPLOITATION AND TRADE OF CONFLICT MINERALS ORIGINATING IN THE DEMOCRATIC REPUBLIC OF THE CONGO.-It is the sense of Congress that the exploitation and trade of conflict minerals originating in the Democratic Republic of the Congo is helping to finance conflict characterized by extreme levels of violence in the eastern Democratic Republic of the Congo, particularly sexual- and gender-based violence, and contributing to an emergency humanitarian situation therein, warranting the provisions of section 13(p) of the Securities Exchange Act of 1934 [ 15 U.S.C. 78 m(p) ], as added by subsection (b)."(b) [Amended this section.]"(c) STRATEGY AND MAP TO ADDRESS LINKAGES BETWEEN CONFLICT MINERALS AND ARMED GROUPS.-"(1) STRATEGY.-"(A) IN GENERAL.-Not later than 180 days after the date of the enactment of this Act [July 21, 2010], the Secretary of State, in consultation with the Administrator of the United States Agency for International Development, shall submit to the appropriate congressional committees a strategy to address the linkages between human rights abuses, armed groups, mining of conflict minerals, and commercial products. "(B) CONTENTS.-The strategy required by subparagraph (A) shall include the following:"(i) A plan to promote peace and security in the Democratic Republic of the Congo by supporting efforts of the Government of the Democratic Republic of the Congo, including the Ministry of Mines and other relevant agencies, adjoining countries, and the international community, in particular the United Nations Group of Experts on the Democratic Republic of Congo, to- "(I) monitor and stop commercial activities involving the natural resources of the Democratic Republic of the Congo that contribute to the activities of armed groups and human rights violations in the Democratic Republic of the Congo; and "(II) develop stronger governance and economic institutions that can facilitate and improve transparency in the cross-border trade involving the natural resources of the Democratic Republic of the Congo to reduce exploitation by armed groups and promote local and regional development."(ii) A plan to provide guidance to commercial entities seeking to exercise due diligence on and formalize the origin and chain of custody of conflict minerals used in their products and on their suppliers to ensure that conflict minerals used in the products of such suppliers do not directly or indirectly finance armed conflict or result in labor or human rights violations. "(iii) A description of punitive measures that could be taken against individuals or entities whose commercial activities are supporting armed groups and human rights violations in the Democratic Republic of the Congo. "(2) MAP.-"(A) IN GENERAL.-Not later than 180 days after the date of the enactment of this Act [July 21, 2010], the Secretary of State shall, in accordance with the recommendation of the United Nations Group of Experts on the Democratic Republic of the Congo in their December 2008 report-"(i) produce a map of mineral-rich zones, trade routes, and areas under the control of armed groups in the Democratic Republic of the Congo and adjoining countries based on data from multiple sources, including- "(I) the United Nations Group of Experts on the Democratic Republic of the Congo; "(II) the Government of the Democratic Republic of the Congo, the governments of adjoining countries, and the governments of other Member States of the United Nations; and "(III) local and international nongovernmental organizations;"(ii) make such map available to the public; and"(iii) provide to the appropriate congressional committees an explanatory note describing the sources of information from which such map is based and the identification, where possible, of the armed groups or other forces in control of the mines depicted."(B) DESIGNATION.-The map required under subparagraph (A) shall be known as the 'Conflict Minerals Map', and mines located in areas under the control of armed groups in the Democratic Republic of the Congo and adjoining countries, as depicted on such Conflict Minerals Map, shall be known as 'Conflict Zone Mines'."(C) UPDATES.-The Secretary of State shall update the map required under subparagraph (A) not less frequently than once every 180 days until the date on which the disclosure requirements under paragraph (1) of section 13(p) of the Securities Exchange Act of 1934 [ 15 U.S.C. 78 m(p) ], as added by subsection (b), terminate in accordance with the provisions of paragraph (4) of such section 13(p)."(D) PUBLICATION IN FEDERAL REGISTER.-The Secretary of State shall add minerals to the list of minerals in the definition of conflict minerals under section 1502 [amending this section and enacting this note], as appropriate. The Secretary shall publish in the Federal Register notice of intent to declare a mineral as a conflict mineral included in such definition not later than one year before such declaration."(d) REPORTS.-"(1) BASELINE REPORT.-Not later than 1 year after the date of the enactment of this Act [July 21, 2010] and annually thereafter through 2020, in 2022, and in 2024, the Comptroller General of the United States shall submit to appropriate congressional committees a report that includes an assessment of the rate of sexual- and gender-based violence in war-torn areas of the Democratic Republic of the Congo and adjoining countries."(2) REGULAR REPORT ON EFFECTIVENESS.-Not later than 2 years after the date of the enactment of this Act [July 21, 2010] and annually thereafter through 2020, in 2022, and in 2024, the Comptroller General of the United States shall submit to the appropriate congressional committees a report that includes the following: "(A) An assessment of the effectiveness of section 13(p) of the Securities Exchange Act of 1934 [ 15 U.S.C. 78 m(p) ], as added by subsection (b), in promoting peace and security in the Democratic Republic of the Congo and adjoining countries."(B) A description of issues encountered by the Securities and Exchange Commission in carrying out the provisions of such section 13(p)."(C)(i) A general review of persons described in clause (ii) and whether information is publicly available about-"(I) the use of conflict minerals by such persons; and"(II) whether such conflict minerals originate from the Democratic Republic of the Congo or an adjoining country. "(ii) A person is described in this clause if-"(I) the person is not required to file reports with the Securities and Exchange Commission pursuant to section 13(p)(1)(A) of the Securities Exchange Act of 1934 [ 15 U.S.C. 78 m(p)(1)(A) ], as added by subsection (b); and "(II) conflict minerals are necessary to the functionality or production of a product manufactured by such person."(3) REPORT ON PRIVATE SECTOR AUDITING.-Not later than 30 months after the date of the enactment of this Act [July 21, 2010], and annually thereafter, the Secretary of Commerce shall submit to the appropriate congressional committees a report that includes the following:"(A) An assessment of the accuracy of the independent private sector audits and other due diligence processes described under section 13(p) of the Securities Exchange Act of 1934 [ 15 U.S.C. 78 m(p) ]."(B) Recommendations for the processes used to carry out such audits, including ways to-"(i) improve the accuracy of such audits; and"(ii) establish standards of best practices."(C) A listing of all known conflict mineral processing facilities worldwide."(e) DEFINITIONS.-For purposes of this section:"(1) ADJOINING COUNTRY.-The term 'adjoining country', with respect to the Democratic Republic of the Congo, means a country that shares an internationally recognized border with the Democratic Republic of the Congo."(2) APPROPRIATE CONGRESSIONAL COMMITTEES.-The term 'appropriate congressional committees' means-"(A) the Committee on Appropriations, the Committee on Foreign Affairs, the Committee on Ways and Means, and the Committee on Financial Services of the House of Representatives; and"(B) the Committee on Appropriations, the Committee on Foreign Relations, the Committee on Finance, and the Committee on Banking, Housing, and Urban Affairs of the Senate."(3) ARMED GROUP.-The term 'armed group' means an armed group that is identified as perpetrators of serious human rights abuses in the annual Country Reports on Human Rights Practices under sections 116(d) and 502B(b) of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2151n(d) and 2304(b)) relating to the Democratic Republic of the Congo or an adjoining country."(4) CONFLICT MINERAL.-The term 'conflict mineral' means-"(A) columbite-tantalite (coltan), cassiterite, gold, wolframite, or their derivatives; or"(B) any other mineral or its derivatives determined by the Secretary of State to be financing conflict in the Democratic Republic of the Congo or an adjoining country."(5) UNDER THE CONTROL OF ARMED GROUPS.-The term 'under the control of armed groups' means areas within the Democratic Republic of the Congo or adjoining countries in which armed groups- "(A) physically control mines or force labor of civilians to mine, transport, or sell conflict minerals;"(B) tax, extort, or control any part of trade routes for conflict minerals, including the entire trade route from a Conflict Zone Mine to the point of export from the Democratic Republic of the Congo or an adjoining country; or "(C) tax, extort, or control trading facilities, in whole or in part, including the point of export from the Democratic Republic of the Congo or an adjoining country."
CONSULTATIONPub. L. 106-102, title II, §241, Nov. 12, 1999, 113 Stat. 1407, provided that:"(a) IN GENERAL.-The Securities and Exchange Commission shall consult and coordinate comments with the appropriate Federal banking agency before taking any action or rendering any opinion with respect to the manner in which any insured depository institution or depository institution holding company reports loan loss reserves in its financial statement, including the amount of any such loan loss reserve."(b) DEFINITIONS.-For purposes of subsection (a), the terms 'insured depository institution', 'depository institution holding company', and 'appropriate Federal banking agency' have the same meaning as given in section 3 of the Federal Deposit Insurance Act [12 U.S.C. 1813]."
ADJUSTMENT OF REGISTRATION FEE RATEBy order dated Aug. 24, 2017, the Securities and Exchange Commission adjusted the fee rates applicable under subsec. (e) of this section to $124.50 per $1,000,000, effective Oct. 1, 2017, see 82 F.R. 41080.By order dated Aug. 30, 2016, the Securities and Exchange Commission adjusted the fee rates applicable under subsec. (e) of this section to $115.90 per $1,000,000, effective Oct. 1, 2016, see 81 F.R. 61283.By order dated Aug. 26, 2015, the Securities and Exchange Commission adjusted the fee rates applicable under subsec. (e) of this section to $100.70 per $1,000,000, effective Oct. 1, 2015, see 80 F.R. 52824.By order dated Aug. 29, 2014, the Securities and Exchange Commission adjusted the fee rates applicable under subsec. (e) of this section to $116.20 per $1,000,000, effective Oct. 1, 2014, see 79 F.R. 52771.By order dated Aug. 30, 2013, the Securities and Exchange Commission adjusted the fee rates applicable under subsec. (e) of this section to $128.80 per $1,000,000, effective Oct. 1, 2013, see 78 F.R. 54934.By order dated Aug. 31, 2012, the Securities and Exchange Commission adjusted the fee rates applicable under subsec. (e) of this section to $136.40 per $1,000,000, effective Oct. 1, 2012, see 77 F.R. 55240.By order dated Aug. 31, 2011, the Securities and Exchange Commission adjusted the fee rates applicable under subsec. (e) of this section to $114.60 per $1,000,000, effective Oct. 1, 2011, see 76 F.R. 55139.
ASSIGNMENT OF FUNCTION RELATING TO GRANTING OF AUTHORITY FOR ISSUANCE OF CERTAIN DIRECTIVESMemorandum of President of the United States, May 5, 2006, 71 F.R. 27943, provided: Memorandum for the Director of National Intelligence By virtue of the authority vested in me by the Constitution and laws of the United States, including section 301 of title 3, United States Code, I hereby assign to you the function of the President under section 13(b)(3)(A) of the Securities Exchange Act of 1934, as amended ( 15 U.S.C. 78 m(b)(3)(A) ). In performing such function, you should consult the heads of departments and agencies, as appropriate.You are authorized and directed to publish this memorandum in the Federal Register.George W. Bush.
Section 78l-1 - Applications for unlisted trading privileges deemed filed under section 78l of this title
Section 78m-1 - Reporting and recordkeeping for certain security-based swaps