Penny Stock Reform Act of 1990

Summary

Penny Stock Reform Act of 1990 - Amends the Securities Exchange Act of 1934 to define "penny stock" securities and to extend regulatory authority over persons engaged in penny stock activities. Prescribes requirements for brokers and dealers in penny stock transactions. States that any contract violating certain rules prohibiting fraudulent, deceptive, or manipulative practices shall be deemed automatically void. Authorizes the Securities and Exchange Commission to designate rules whose violation shall not automatically render a contract void. Amends the Securities Act of 1933 and the Securities Exchange Act of 1934 to require specified disclosures regarding business plans and purposes and the identity of merger or acquisition prospects (thereby prohibiting blank check and blind pool securities activities in penny stock transactions). Amends the Securities Exchange Act of 1934 to require registered securities associations to: (1) review penny stock transactions for compliance with this Act; and (2) establish a toll-free consumer hotline regarding broker-dealer disciplinary history.

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Timeline

1. 4 April 1990

   Introduced

   Referred to the House Committee on Energy and Commerce.

   Source: IntroReferral

2. 4 April 1990

   Introduced

   Introduced in House

   Source: IntroReferral

3. 4 April 1990

   Introduced

   Introduced in House

   Source: IntroReferral

4. 23 April 1990

   Referred

   Referred to the Subcommittee on Telecommunications and Finance.

   Source: Committee

5. 25 April 1990

   Committee

   Subcommittee Hearings Held.

   Source: Committee

6. 20 June 1990

   Committee

   Subcommittee Consideration and Mark-up Session Held.

   Source: Committee

7. 20 June 1990

   Committee

   Forwarded by Subcommittee to Full Committee (Amended).

   Source: Committee

8. 27 June 1990

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

9. 27 June 1990

   Reported

   Ordered to be Reported (Amended).

   Source: Committee

10. 23 July 1990

    Committee

    For Further Action See H.R.5325.

    Source: Committee

11. 23 July 1990

    Calendars

    Placed on the Union Calendar, Calendar No. 385.

    Source: Calendars

12. 23 July 1990

    Reported

    Reported (Amended) by the Committee on Energy and Commerce. H. Rept. 101-617.

    Source: Committee

13. 23 July 1990

    Reported

    Reported (Amended) by the Committee on Energy and Commerce. H. Rept. 101-617.

    Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · — · Download file
• Reported in House · — · Download file

Documents

4 official files

• Reported in House (text)

  Reported in House · EN

  ViewDownloadOpen at official source

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

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  Vertaal document

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• Reported to House with amendment(s)

  summary · EN · 23 July 1990

  Open at official source

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  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Introduced in House

  summary · EN · 4 April 1990

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Markey, Edward J. [D-MA] · D · Sponsor
• Rep. Rinaldo, Matthew J. [R-NJ-7] · R · Sponsor
• Sen. Wyden, Ron [D-OR] · D · Sponsor
• Rep. Dingell, John D. [D-MI-12] · D · Sponsor
• Rep. Richardson, Bill [D-NM-3] · D · Sponsor
• Rep. Moorhead, Carlos J. [R-CA-22] · R · Sponsor
• Rep. McMillen, Thomas [D-MD-4] · D · Sponsor
• Rep. Slattery, Jim [D-KS-2] · D · Cosponsor
• Rep. Bates, Jim [D-CA-44] · D · Cosponsor
• · hsif00 · Standing

Related records

• related to ← Securities Enforcement and Penny Stock Reform Act of 1990