Equitable Treatment of Investors Act

Summary

Equitable Treatment of Investors Act - Amends the Securities Investor Protection Act of 1970 to revise the definition of "net equity." States that, in determining net equity, the positions, options, and contracts of a customer held by the debtor, and any indebtedness of the customer to the debtor, shall be determined based on: (1) the information contained in the last statement received by the customer from the debtor before the filing date; and (2) any additional specific confirmations of the customer's positions, options, contracts, or indebtedness received after such last statement but before the filing date. Prohibits reliance on the final statement of the debtor to customer, however, if the customer: (1) knew the debtor was involved in fraudulent activity with respect to any of its customers; or (2) as a registered broker, dealer, or investment adviser under specified securities laws, or a person required to be so registered, knew, or should have known, that the debtor was involved in such a fraudulent activity and did not notify the Securities Investor Protection Corporation (SIPC), Securities and Exchange Commission (SEC), or law enforcement personnel that the debtor was so involved. Prohibits a trustee in bankruptcy in a liquidation proceeding from recovering any property transferred by the debtor to a customer before the filing date unless, at the time of such transfer, the customer meets the same criteria. Transfers from SIPC to the SEC authority to nominate to a court persons for appointment as trustee for the liquidation of a debtor's business and as attorney for the trustee.

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

Timeline

1. 17 February 2011

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 17 February 2011

   Introduced

   Introduced in House

   Source: IntroReferral

3. 17 February 2011

   Introduced

   Introduced in House

   Source: IntroReferral

4. 18 February 2011

   Introduced

   Sponsor introductory remarks on measure. (CR E265-266)

   Source: IntroReferral

5. 4 April 2011

   Referred

   Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.

   Source: Committee

6. 7 March 2012

   Committee

   Subcommittee Hearings Held.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 17 February 2011 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 17 February 2011

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 17 February 2011

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 17 February 2011

  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. Garrett, Scott [R-NJ-5] · R · Sponsor
• Rep. King, Peter T. [R-NY-2] · R · Sponsor
• Rep. Ros-Lehtinen, Ileana [R-FL-27] · R · Sponsor
• Rep. West, Allen B. [R-FL-22] · R · Cosponsor
• Rep. McCarthy, Carolyn [D-NY-4] · D · Cosponsor
• Rep. Marino, Tom [R-PA-10] · R · Cosponsor
• Rep. Himes, James A. [D-CT-4] · D · Cosponsor
• Rep. Manzullo, Donald A. [R-IL-16] · R · Cosponsor
• Rep. Rothman, Steven R. [D-NJ-9] · D · Cosponsor
• Rep. Deutch, Theodore E. [D-FL-22] · D · Cosponsor
• Rep. Tipton, Scott R. [R-CO-3] · R · Cosponsor
• Rep. Luetkemeyer, Blaine [R-MO-3] · R · Cosponsor
• Rep. Bass, Charles F. [R-NH-2] · R · Cosponsor
• Rep. Rigell, E. Scott [R-VA-2] · R · Cosponsor
• · hsba00 · Standing

Related records

• related to ← Equitable Treatment of Investors Act