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 acquisitions 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 would be prohibited if it had been made or the transaction had 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 which occurs on or after March 27, 1984, if the loan or extension of credit involved originated, or if the loan proceeds used were disbursed, on or after such date.

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1 official file

• Introduced in House

  summary · EN · 27 March 1984

  Open at official source

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