H.R.2622 - Compliance, Examinations, and Inspections Restructuring Act of 2009

To amend the Securities Exchange Act of 1934 to establish rules and procedures for the delegation of compliance and inspections authority to the operating divisions of the Securities and Exchange Commission, and for other purposes. view all titles (2)

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  • Short: Compliance, Examinations, and Inspections Restructuring Act of 2009 as introduced.
  • Official: To amend the Securities Exchange Act of 1934 to establish rules and procedures for the delegation of compliance and inspections authority to the operating divisions of the Securities and Exchange Commission, and for other purposes. as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
05/20/09
 
 
 
 
 
 
 

Official Bill Text Comment on about 9 Pages

Sponsor

Representative

Kevin McCarthy

R-CA

No Co-Sponsors

Official Summary

5/21/2009--Introduced.Compliance, Examinations, and Inspections Restructuring Act of 2009 - Amends the Securities Exchange Act of 1934 to vest the inspections and examinations authority of the Securities and Exchange Commission (SEC) in those administrative divisions or offices to which th
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Official Summary

5/21/2009--Introduced.Compliance, Examinations, and Inspections Restructuring Act of 2009 - Amends the Securities Exchange Act of 1934 to vest the inspections and examinations authority of the Securities and Exchange Commission (SEC) in those administrative divisions or offices to which the SEC has delegated its administrative responsibilities. Requires the subject of an SEC inquiry or inspection to be notified in writing at least every 120 days regarding the status of an ongoing proceeding. Requires an SEC administrative division or office to obtain permission to conduct a sweep examination in the same manner and subject to the same procedures as SEC enforcement divisions or offices must follow in conducting a formal investigation or inquiry of registered entities. Instructs the Chairman of the SEC to appoint an Ombudsman with respect to any problems resulting from SEC regulatory activities. Expresses the sense of Congress that the SEC should develop and publish guidelines setting forth explicitly the benefit to either an issuer of securities or a registered entity if it self-reports an apparent violation of law, and subsequently becomes the respondent in an SEC civil injunctive action or administrative proceeding regarding the matter that was self-reported.

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Recent Blog Coverage

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12/27/10
corporate credit | Legislators Ponder New Credit Protection Laws

Legislators in Washington, D.C. are considering several credit-related consumer protections as outlined in The Fair and Accurate Credit Transaction Act of 2003 (H.R. 2622). If approved, consumers could benefit from the most wide-ranging ...

Source: corporate credit
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12/05/10
Legislators Ponder New Credit Protection Laws - CardCredit1 Online ...

Legislators in Washington, D.C. are considering several credit-related consumer protections as outlined in The Fair and Accurate Credit Transaction Act of 2003 (H.R. 2622). If approved, consumers could benefit from the most wide-ranging ...

Source: CardCredit1 Online Credit Cards
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10/27/10
Legislators Ponder New Credit Protection Laws

Lawmakers in Washington, DC are considering several credit-related consumer protections as outlined in the Fair and Accurate Credit Transactions Act of 2003 (HR 2622). If approved, consumers could benefit from the biggest changes to the ...

Source: Expand Your Credit
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