Investment Advisers Integrity Act

Summary

Investment Advisers Integrity Act - Authorizes appropriations to the Securities and Exchange Commission (SEC) to enforce the Investment Advisers Act of 1940 with respect to investment advisers who manage more than $5 million in assets. Exempts from SEC registration requirements investment advisers who, during the preceding 12 months, managed less than $5 million in assets, if they are registered with their State securities regulator. Authorizes the SEC to impose registration requirements upon investment managers who, during the preceding 12 months, had more than $1 million but less than $5 million in assets under management if it determines such action is necessary to effectuate the purposes of the Act. Authorizes the SEC to investigate allegations of fraud against an investment adviser regardless of the adviser's exception from registration requirements. Directs the SEC to censure or restrict the activities of all convicted felons, or to disqualify them from registration.

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Timeline

1. 4 January 1995

   Introduced

   Read twice and referred to the Committee on Banking.

   Source: IntroReferral

2. 4 January 1995

   Introduced

   Sponsor introductory remarks on measure. (CR S407-408)

   Source: IntroReferral

3. 4 January 1995

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 4 January 1995 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 4 January 1995

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 4 January 1995

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 4 January 1995

  Open at official source

Sponsors

• Sen. Gramm, Phil [R-TX] · R · Sponsor
• · ssbk00 · Standing

Related records

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