THIS SEARCH     THIS DOCUMENT     GO TO
Next Hit        Forward           New Bills Search
Prev Hit        Back              HomePage
Hit List        Best Sections     Help
                Contents Display   

Bill PDFBillno should always have and extension i.e. h1.ih

Printer Friendly[Help]

Congressional Record References

Bill Summary & Status

HR 3318 IH

To establish by law a permanent Investor Advisory Committee within the Securities and Exchange Commission to give investors a greater voice in the Securities and Exchange Commission's work.

July 23, 2009

Ms. KILROY introduced the following bill; which was referred to the Committee on Financial Services

To establish by law a permanent Investor Advisory Committee within the Securities and Exchange Commission to give investors a greater voice in the Securities and Exchange Commission's work.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Investor Advisory Committee Act of 2009'.

SEC. 2. INVESTOR ADVISORY COMMITTEE ESTABLISHED.

The Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) is amended by adding at the end the following new section:

`SEC. 39. INVESTOR ADVISORY COMMITTEE.

`(a) Establishment and Purpose- There is established an Investor Advisory Committee (in this section referred to as the `Committee') to advise and consult with the Commission on--

`(1) regulatory priorities and issues regarding new products, trading strategies, fee structures, and the effectiveness of disclosures;

`(2) initiatives to protect investor interest; and

`(3) initiatives to promote investor confidence in the integrity of the marketplace.

`(b) Membership-

`(1) APPOINTMENT- The Chairperson of the Commission shall appoint the members of the Committee, which members shall--

`(A) represent the interests of individual investors;

`(B) represent the interests of institutional investors; and

`(C) have experience with a broad range of investment approaches.

`(2) MEMBERS NOT COMMISSION EMPLOYEES- Members shall not be deemed employees or agents of the Commission solely because of membership on the Committee.

`(c) Meetings- The Committee shall meet from time to time at the call of the Commission, and at a minimum shall meet twice each year.

`(d) Compensation and Travel Expenses- Members of the Committee who are not full-time employees of the United States shall--

`(1) be entitled to receive compensation at a rate fixed by the Commission while attending and traveling to and from meetings of the Committee; and

`(2) be allowed travel expenses, including transportation and subsistence, while away from their homes or regular places of business.

`(e) Committee Findings- Nothing in this section requires the Commission to accept, agree, or act upon the findings or recommendations of the Committee.

`(f) Authorization of Appropriations- There is authorized to be appropriated to the Commission such sums as are necessary to cover the costs of the Committee.'.

THIS SEARCH     THIS DOCUMENT     GO TO
Next Hit        Forward           New Bills Search
Prev Hit        Back              HomePage
Hit List        Best Sections     Help
                Contents Display