Joint resolution to amend the Securities Bxcliange Act of 1934 so as to authorize and direct the Securities and Exchange Commission to conduct a study and investigation of the adequacy, for the protection of investors, of the rules of national securities exchanges and national securities associations
PL 87-196 (H.J.Res.438), enacted 09/05/1961

75 
S T A T . ] 
PUBLIC LAW 87-196-SEPT. 5, 1961 
465 
pay the travel expenses of such person by whatever means he shall 
deem appropriate, including the furnishing of transportation, and 
without regard to the Standardized Government Travel Regulations 
and section 10 of the Act of March 3, 1933, as amended (60 Stat. 
808; 5 U.S.C. 73b), to the nearest locality where suitable medical 
care can be obtained. If any such officer, employee, or dependent 
is too ill to travel unattended, or in the case of a dependent too 
young to travel alone, the Secretary may also pay the round-trip 
travel expenses of an attendant or attendants." 
SEC. 709. Section 2 of the Act of July 31, 1945, as amended (22 
U.S.C. 279a), is hereby amended to read as follows: 
"SEC. 2. There is hereby authorized to be appropriated, out of any 
monev in the Treasury not otherwise appropriated, such sums as 
may be required for expenditure under the direction of the Secre-
tary of State, for the payment by the United States of its propor-
tionate share in the expenses of the Organization: Provided^ That 
the percentage contribution of the United States to the total annual 
budget of the Organization shall not exceed 33.33 per centum." 
SEC. 710. (a) The first section of the Act entitled "An Act to 
authorize participation by the United States in the Interparliamen-
tary Union", approved June 28, 1935, as amended (22 U.S.C. 276), 
is amended by striking out $33,000" and "$15,000" and inserting 
in lieu thereof "$48,000" and "$30,000", respectivelv. 
(b) The amendments made by this section shall be effective only 
for the fiscal year 1962. 
Approved September 4, 1961. 
U. S. F'ood and 
Agfic u 11 n f a 1 Or-
ganization. 
Appropriation. 
Interparlia m e n-
tary Union. 
Public Law 87-196 
JOINT RESOLUTION 
To amend the Securities Bxcliange Act of 1934 so as to authorize and direct the 
Securities and Exchange Commission to conduct a study and investigation 
of the adequacy, for the protection of investors, of the rules of national 
securities exchanges and national securities associations. 
September 5, 1961 
[H. J. Res. 438] 
Study. 
48 Stat. 898. 
IS u s e 78 s. 
R e p o r t to Con-
gress. 
Resolved hy the Senate and House of Representatives of the United 
States of America in Congress assembled^ That section 19 of the glchrnV* com-
Securities Exchange Act of 1934 is amended by adding at the end mission 
thereof a new subsection as follows: 
"(d) The Commission is authorized and directed to make a study 
and investigation of the adequacy, for the protection of investors, 
of the rules of national securities exchanges and national securities 
associations, including rules for the expulsion, suspension, or disciplin-
ing of a member for conduct inconsistent with just and equitable prin-
ciples of trade. The Commission shall report to the Congress on or 
before January 3, 1963, the results of its study and investigation, 
together with its recommendations, including such recommendations 
for legislation as it deems advisable. The Commission is authorized 
to appoint, without regard to the civil service laws, rules, and regula-
tions, such personnel as the Commission deems advisable to carry out 
such study and investigation and to fix their respective rates of com-
pensation without regard to the Classification Act of 1949, as amended, 
but no such rate shall exceed $18,500 per annum. To carry out such 
study and investigation there is hereby authorized to be appropriated 
the sum of $750,000." 
Approved September 5, 1961. 
63 Stat. 954. 
5 u s e 1071 note. 
Appropriation.