Investment Adviser Regulatory Enhancement and Disclosure Act of 1993

Summary

Investment Adviser Regulatory Enhancement and Disclosure Act of 1993 - 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. 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; and (2) report to the Congress on surveys regarding the failure of persons to register as mandated. Authorizes the SEC to designate registered self-regulatory organizations to: (1) conduct periodic compliance examinations of members and their affiliates; (2) discipline them for non-compliance; and (3) collect examination fees. Prohibits certain transactions by registered investment advisers, including the rendering of investment advice unsuitable to the client's financial situation and experience. Requires registered investment advisers to disseminate to clients and prospective clients brochures disclosing specified investor protection information. Requires such advisers to provide each client periodically with a written statement of client-paid fees and compensation arrangements with a third party regarding recommended transactions. Directs the SEC to promulgate investor protection rules setting bond requirements for certain investment advisers against larceny and embezzlement. 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.

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

Timeline

1. 26 January 1993

   Introduced

   Introduced in House

   Source: IntroReferral

2. 26 January 1993

   Introduced

   Introduced in House

   Source: IntroReferral

3. 26 January 1993

   Introduced

   Referred to the House Committee on Energy and Commerce.

   Source: IntroReferral

4. 26 January 1993

   Introduced

   Sponsor introductory remarks on measure. (CR E166-167)

   Source: IntroReferral

5. 16 February 1993

   Referred

   Referred to the Subcommittee on Telecommunications and Finance.

   Source: Committee

6. 4 March 1993

   Committee

   Subcommittee Hearings Held.

   Source: Committee

7. 1 April 1993

   Committee

   Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote.

   Source: Committee

8. 1 April 1993

   Committee

   Subcommittee Consideration and Mark-up Session Held.

   Source: Committee

9. 20 April 1993

   Reported

   Ordered to be Reported (Amended) by Voice Vote.

   Source: Committee

10. 20 April 1993

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

11. 29 April 1993

    Calendars

    Placed on the Union Calendar, Calendar No. 33.

    Source: Calendars

12. 29 April 1993

    Reported

    Reported (Amended) by the Committee on Energy and Commerce. H. Rept. 103-75.

    Source: Committee

13. 29 April 1993

    Reported

    Reported (Amended) by the Committee on Energy and Commerce. H. Rept. 103-75.

    Source: Committee

14. 4 May 1993

    Floor

    DEBATE - The House proceeded with forty minutes of debate.

    Source: Floor

15. 4 May 1993

    Floor

    Considered under suspension of the rules. (consideration: CR H2212-2220)

    Source: Floor

16. 4 May 1993

    Floor

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

    Source: Floor

17. 4 May 1993

    Passed

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

    Source: Floor

18. 4 May 1993

    Passed

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

    Source: Floor

19. 4 May 1993

    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

20. 5 May 1993

    Introduced

    Received in the Senate.

    Source: IntroReferral

21. 7 May 1993

    Introduced

    Read twice and referred to the Committee on Banking.

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Referred in Senate · 7 May 1993 · Download file
• Engrossed in House · 4 May 1993 · Download file
• Reported in House · 29 April 1993 · Download file
• Introduced in House · 26 January 1993 · Download file

Documents

11 official files

• Referred in Senate (text)

  Referred in Senate · EN · 7 May 1993

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• Referred in Senate (PDF)

  Referred in Senate · EN · 7 May 1993

  ViewDownloadOpen 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.

• Engrossed in House (text)

  Engrossed in House · EN · 4 May 1993

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  Vertaal document

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• Engrossed in House (PDF)

  Engrossed in House · EN · 4 May 1993

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  Vertaal document

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• Passed House amended

  summary · EN · 4 May 1993

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  Vertaal document

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

• Reported in House (text)

  Reported in House · EN · 29 April 1993

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  Vertaal document

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• Reported in House (PDF)

  Reported in House · EN · 29 April 1993

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  Vertaal document

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• Reported to House with amendment(s)

  summary · EN · 29 April 1993

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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 (text)

  Introduced in House · EN · 26 January 1993

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  Vertaal document

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• Introduced in House (PDF)

  Introduced in House · EN · 26 January 1993

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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 · 26 January 1993

  Open at official source

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  Vertaal document

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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. Fields, Jack [R-TX-8] · R · 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. Synar, Mike [D-OK-2] · D · Sponsor
• Rep. Moorhead, Carlos J. [R-CA-22] · R · Cosponsor
• Rep. Martinez, Matthew G. [D-CA-31] · D · Cosponsor
• Rep. Johnson, Nancy L. [R-CT-5] · R · Cosponsor
• Rep. Barrett, Thomas M. [D-WI-5] · D · Cosponsor
• Rep. Hughes, William J. [D-NJ-2] · D · Cosponsor
• Rep. Glickman, Dan [D-KS-4] · D · Cosponsor
• Rep. Meek, Carrie P. [D-FL-17] · D · Cosponsor
• Rep. Studds, Gerry E. [D-MA-10] · D · Cosponsor
• · ssbk00 · Standing
• · hsif00 · Standing

Related records

• related to ← Investment Adviser Oversight Act of 1993