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 foreign persons where such acquisition is financed by a foreign lender.

Summary

Amends the Securities Exchange Act of 1934 to prohibit certain credit transactions for the acquisition of securities of U.S. corporations by either a 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 could be prohibited if made in a lender's office or other place of business in a State. Applies the provisions of this Act to any purchase or carrying of securities on or after March, 1981, if the loan or extension of credit involved originated, or if the loan proceeds used to purchase or carry such securities were disbursed, on or after such date.

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Timeline

1. 25 June 1981

   Referred

   Referred to Subcommittee on Securities.

   Source: Committee

2. 25 June 1981

   Introduced

   Read second time and referred to Senate Committee on Banking.

   Source: IntroReferral

3. 25 June 1981

   Introduced

   Introduced in Senate

   Source: IntroReferral

4. 6 July 1981

   Committee

   Committee on Banking requested executive comment from Treasury Department; Securities and Exchange Commission.

   Source: Committee

5. 8 July 1981

   Committee

   Subcommittee on Securities. Hearings held.

   Source: Committee

6. 30 July 1981

   Committee

   Subcommittee on Securities. Measure with amendments to full committee.

   Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 25 June 1981

  Open at official source

Sponsors

• Sen. D'Amato, Alfonse [R-NY] · R · Sponsor
• Sen. Kassebaum, Nancy Landon [R-KS] · R · Sponsor
• Sen. Nickles, Don [R-OK] · R · Cosponsor
• Sen. Boren, David L. [D-OK] · D · Cosponsor
• Sen. Boschwitz, Rudy [R-MN] · R · Cosponsor
• Sen. Bentsen, Lloyd M. [D-TX] · D · Cosponsor
• Sen. Heinz, John [R-PA] · R · Cosponsor
• · ssbk00 · Standing

Related records

• related to → 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 foreign persons where such acquisition is financed by a foreign lender.