Source: https://www.law.cornell.edu/uscode/text/15/80a%E2%80%9330
Timestamp: 2019-03-20 01:08:36
Document Index: 516164637

Matched Legal Cases: ['§\u202f80', '§\u202f31', '§\u202f207', '§\u202f301', '§\u202f929', '§\u202f1', '§\u202f929', '§\u202f929', '§\u202f929', '§\u202f1', '§\u202f929', '§\u202f1', '§\u202f929', '§\u202f929', '§\u202f207', '§\u202f207', '§\u202f207', '§\u202f207']

§ 80a–30.
Each registered investment company, and each underwriter, broker, dealer, or investment adviser that is a majority-owned subsidiary of such a company, shall maintain and preserve such records (as defined in section 78c(a)(37) of this title) for such period or periods as the Commission, by rules and regulations, may prescribe as necessary or appropriate in the public interest or for the protection of investors. Each investment adviser that is not a majority-owned subsidiary of, and each depositor of any registered investment company, and each principal underwriter for any registered investment company other than a closed-end company, shall maintain and preserve for such period or periods as the Commission shall prescribe by rules and regulations, such records as are necessary or appropriate to record such person’s transactions with such registered company. Each person having custody or use of the securities, deposits, or credits of a registered investment company shall maintain and preserve all records that relate to the custody or use by such person of the securities, deposits, or credits of the registered investment company for such period or periods as the Commission, by rule or regulation, may prescribe, as necessary or appropriate in the public interest or for the protection of investors.
(2) Minimizing compliance burdenIn exercising its authority under this subsection, the Commission shall take such steps as it deems necessary or appropriate, consistent with the public interest and for the protection of investors, to avoid unnecessary recordkeeping by, and minimize the compliance burden on, persons required to maintain records under this subsection (hereafter in this section referred to as “subject persons”). Such steps shall include considering, and requesting public comment on—
(Aug. 22, 1940, ch. 686, title I, § 31, 54 Stat. 838; Pub. L. 104–290, title II, § 207, Oct. 11, 1996, 110 Stat. 3430; Pub. L. 105–353, title III, § 301(c)(6), Nov. 3, 1998, 112 Stat. 3237; Pub. L. 111–203, title IX, §§ 929I(b), 929Q(a), July 21, 2010, 124 Stat. 1858, 1865; Pub. L. 111–257, § 1(b), Oct. 5, 2010, 124 Stat. 2646.)
2010—Subsec. (a)(1). Pub. L. 111–203, § 929Q(a)(1), inserted at end “Each person having custody or use of the securities, deposits, or credits of a registered investment company shall maintain and preserve all records that relate to the custody or use by such person of the securities, deposits, or credits of the registered investment company for such period or periods as the Commission, by rule or regulation, may prescribe, as necessary or appropriate in the public interest or for the protection of investors.”
Subsec. (b)(4). Pub. L. 111–203, § 929Q(a)(2), added par. (4).
Pub. L. 111–203, § 929I(b)(1), added subsec. (c) and struck out former subsec. (c). Prior to amendment, text read as follows: “Notwithstanding any other provision of law, the Commission shall not be compelled to disclose any internal compliance or audit records, or information contained therein, provided to the Commission under this section. Nothing in this subsection shall authorize the Commission to withhold information from the Congress or prevent the Commission from complying with a request for information from any other Federal department or agency requesting the information for purposes within the scope of the jurisdiction of that department or agency, or complying with an order of a court of the United States in an action brought by the United States or the Commission. For purposes of section 552 of title 5, this section shall be considered a statute described in subsection (b)(3)(B) of such section 552.”
Subsec. (d). Pub. L. 111–257, § 1(b)(2), redesignated subsec. (e) as (d). Former subsec. (d) redesignated (c).
Pub. L. 111–203, § 929I(b)(2), (3), redesignated subsec. (e) as (d) and struck out former subsec. (d) which defined “internal compliance policies and procedures” and “internal compliance and audit record” for purposes of this section.
Subsec. (e). Pub. L. 111–257, § 1(b)(2), redesignated subsec. (e) as (d).
Pub. L. 111–203, § 929I(b)(3), redesignated subsec. (f) as (e). Former subsec. (e) redesignated (d).
Subsec. (f). Pub. L. 111–203, § 929I(b)(3), redesignated subsec. (f) as (e).
1996—Subsecs. (a), (b). Pub. L. 104–290, § 207(1), added subsecs. (a) and (b) and struck out former subsecs. (a) and (b) which read as follows:
“(b) All accounts, books, and other records, required to be maintained and preserved by any person pursuant to subsection (a) of this section, shall be subject at any time and from time to time to such reasonable periodic, special, and other examinations by the Commission, or any member or representative thereof, as the Commission may prescribe. Any such person shall furnish to the Commission, within such reasonable time as the Commission may prescribe, copies of or extracts from such rec­ords which may be prepared without undue effort, expense, or delay, as the Commission may by order require.”
Subsecs. (c), (d). Pub. L. 104–290, § 207(3), added subsecs. (c) and (d). Former subsecs. (c) and (d) redesignated (e) and (f), respectively.
Subsec. (e). Pub. L. 104–290, § 207(2), (4), redesignated subsec. (c) as (e) and inserted heading.
Subsec. (f). Pub. L. 104–290, § 207(2), (5), redesignated subsec. (d) as (f) and inserted heading.