Securities Investor Protection Amendments of 1992

Summary

Investment Adviser Regulatory Enhancement and Disclosure Act of 1992 - Amends the Investment Advisers Act of 1940 to authorize the Securities and Exchange Commission (SEC) to collect fees to cover specified costs of regulating investment advisers and their activities. Sets forth a sliding scale fee schedule based upon assets under adviser management. Authorizes the SEC to suspend the registration of any investment adviser for failure to pay the requisite fees. Directs the SEC to: (1) establish and periodically revise a schedule for the regular inspection of investment advisers (plus a more frequent schedule for certain advisers based upon enumerated risk factors; and (2) conduct and report to the Congress on surveys to determine the extent of, and reasons for, the failure of persons to register as mandated. Lists transactions which are prohibited for registered investment advisers with respect to fraudulent, deceptive, or manipulative practices, including the rendering of investment advice unsuitable to the client's financial situation and experience. Directs the SEC to promulgate rules with respect to such proscriptions. Requires registered investment advisers to disseminate to clients and prospective clients brochures disclosing specified investor protection information, including: (1) conflicts of interests; (2) compensation arrangements; (3) any disciplinary history; and (4) available remedies for disputes arising out of the investment adviser-client relationships. Requires registered investment advisers to provide each client periodically with a written statement of sales commissions and other client-paid fees, and compensation arrangements with a third party regarding recommended transactions. Directs the SEC to promulgate investor protection rules setting bond requirements against larceny and embezzlement for investment advisers who: (1) are authorized to exercise investment discretion; and (2) have access to their client's assets. Prohibits: (1) a person convicted of a felony within the last ten years from registering as an investment adviser; or (2) an investment adviser from disclosing confidential client information. Authorizes the SEC to cooperate with State securities regulatory agencies.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 30 July 1992

   Introduced

   Referred to the House Committee on Energy and Commerce.

   Source: IntroReferral

2. 30 July 1992

   Introduced

   Introduced in House

   Source: IntroReferral

3. 30 July 1992

   Introduced

   Introduced in House

   Source: IntroReferral

4. 4 August 1992

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

5. 4 August 1992

   Reported

   Ordered to be Reported (Amended) by Voice Vote.

   Source: Committee

6. 22 September 1992

   Passed

   Motion to reconsider laid on the table Agreed to without objection.

   Source: Floor

7. 22 September 1992

   Passed

   On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.

   Source: Floor

8. 22 September 1992

   Passed

   The title of the measure was amended. Agreed to without objection.

   Source: Floor

9. 22 September 1992

   Passed

   Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.

   Source: Floor

10. 22 September 1992

    Floor

    DEBATE - The House proceeded with forty minutes of debate.

    Source: Floor

11. 22 September 1992

    Floor

    Considered under suspension of the rules.

    Source: Floor

12. 22 September 1992

    Floor

    Mr. Markey moved to suspend the rules and pass the bill, as amended.

    Source: Floor

13. 22 September 1992

    Calendars

    Placed on the Union Calendar, Calendar No. 502.

    Source: Calendars

14. 22 September 1992

    Reported

    Reported (Amended) by the Committee on Energy and Commerce. H. Rept. 102-883.

    Source: Committee

15. 22 September 1992

    Reported

    Reported (Amended) by the Committee on Energy and Commerce. H. Rept. 102-883.

    Source: Committee

16. 23 September 1992

    Floor

    Laid on the table. See S. 2266 for further action.

    Source: Floor

Votes

No vote records are attached yet.

Versions

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

Documents

5 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

  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.

• Engrossed in House (text)

  Engrossed in House · EN

  ViewDownloadOpen 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.

• Passed House amended

  summary · EN · 22 September 1992

  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.

• Introduced in House

  summary · EN · 30 July 1992

  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

• Rep. Boucher, Rick [D-VA-9] · D · Sponsor
• Sen. Markey, Edward J. [D-MA] · D · Sponsor
• Rep. Dingell, John D. [D-MI-12] · D · Sponsor
• Rep. Eckart, Dennis E. [D-OH-11] · D · Sponsor
• Rep. Cooper, Jim [D-TN-5] · D · Sponsor
• Sen. Wyden, Ron [D-OR] · D · Sponsor
• Rep. Lehman, Richard H. [D-CA-19] · D · Sponsor
• Rep. Harris, Claude [D-AL-7] · D · Sponsor
• Rep. Synar, Mike [D-OK-2] · D · Sponsor
• Rep. Glickman, Dan [D-KS-4] · D · Cosponsor
• · hsif00 · Standing

Related records

• related to → Financial Fraud Detection and Disclosure Act
• related to ← Investment Adviser Oversight Act of 1992