Securities and Exchange Commission Authority Restoration Act of 2006
Latest action · Jul 18, 2006 Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJun 29, 2006
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Securities and Exchange Commission Authority Restoration Act of 2006 - Amends the Investment Advisers Act of 1940 with respect to the exemption from the requirement of registration for any investment adviser: (1) who has had fewer than fifteen clients during the course of the preceding twelve months; and (2) who neither holds himself out generally to the public as an investment adviser, nor acts an an investment adviser to any registered investment company or a company which has elected to be a business development company.
Authorizes the Securities and Exchange Commission (SEC) to: (1) limit the availability of this exemption; and (2) require the registration of any investment adviser by requiring that certain shareholders, partners, and beneficial owners of, or investors in, clients of the adviser be counted as clients themselves.
Cosponsors 3
Members who signed on, in the order they did. Signatures ran from Jun 29, 2006 to Jul 18, 2006, with 2 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MA | Michael E. Capuano | Original | Jun 29, 2006 |
| D-PA | Paul E. Kanjorski | Original | Jun 29, 2006 |
| D-TX | Charles A. Gonzalez | Jul 18, 2006 |
Actions 3
Everything that happened, newest first.
- Jul 18, 2006Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
- Jun 29, 2006Introduced in House
- Jun 29, 2006Referred to the House Committee on Financial Services.
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Jun 29, 2006Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.