A bill to amend the Securities Exchange Act of 1934 to provide uniform margin requirements in transactions involving the acquisition of securities of certain United States corporations by non-United States persons where such acquisition is financed by non-United States lenders, to specify a private right of action for violations of margin requirements, and for certain other purposes.

Summary

Amends the Securities Exchange Act of 1934 to prohibit certain credit transactions for the acquisition of securities of United States corporations by either United States or non-United States persons where such a transaction is financed by either United States or non-United States lenders if such a transaction is or could be prohibited if it has been made or has otherwise occurred in a lender's office or other place of business in a State. Permits the Board of Governors of the Federal Reserve System to exempt any class of persons from the application of such regulation. Sets forth the private right of action for violations of such margin requirements. Applies the provisions of this Act to any purchase or carrying of securities on or after July 16, 1981, if the loan or extension of credit involved originated, or if the loan proceeds used to purchase or carry such securities were disbursed, on or after such date.

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Documents

3 official files

• Passed House amended

  summary · EN · 13 October 1981

  Open at official source

• Reported to House with amendment(s)

  summary · EN · 30 September 1981

  Open at official source

• Introduced in House

  summary · EN · 15 July 1981

  Open at official source

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