To amend the Securities Exchange Act of 1934 to permit members of national securities exchanges to effect certain transactions with respect to accounts for which such members exercise investment discretion.

Summary

Amends the Securities Exchange Act of 1934 to cite conditions under which it shall not be unlawful for members of exchanges and associated persons to effect a transaction for an account with respect to which they exercise investment discretion. Permits transactions for such a managed account (without the involvement of an independent floor broker) if the member or associated person: (1) has obtained express authorization from the person or persons authorized to transact business for the account before engaging in the practice of effecting such transactions; (2) furnishes the persons authorized to transact business for the account with a statement at least annually disclosing the aggregate compensation received by the exchange member in effecting such transactions; and (3) complies with any rules the Securities and Exchange Commission has prescribed with respect to such requirements.

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Documents

12 official files

• Public Law (PDF)

  Public Law · EN · 12 August 1993

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• Enrolled Bill (text)

  Enrolled Bill · EN · 29 July 1993

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• Enrolled Bill (PDF)

  Enrolled Bill · EN · 29 July 1993

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• Placed on Calendar Senate (text)

  Placed on Calendar Senate · EN · 6 May 1993

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• Placed on Calendar Senate (PDF)

  Placed on Calendar Senate · EN · 6 May 1993

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• Engrossed in House (text)

  Engrossed in House · EN · 4 May 1993

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• Engrossed in House (PDF)

  Engrossed in House · EN · 4 May 1993

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• Reported in House (text)

  Reported in House · EN · 29 April 1993

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• Reported in House (PDF)

  Reported in House · EN · 29 April 1993

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• Introduced in House (text)

  Introduced in House · EN · 26 January 1993

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• Introduced in House (PDF)

  Introduced in House · EN · 26 January 1993

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• Introduced in House

  summary · EN · 26 January 1993

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