Sec. 813. Internal risk controls
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The Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq.) is amended— by inserting after section 4G, as added by this Act, the following: Each of the following entities, in consultation with the Chief Economist, shall develop comprehensive internal risk control mechanisms to safeguard and govern the storage of all market data by such entity, all market data sharing agreements of such entity, and all academic research performed at such entity using market data: The Commission.
Each national security association required to register under section 15A. The Commission may not approve a national market system plan pursuant to part 242.613 of title 17, Code of Federal Regulations (or any successor regulation), unless the operator of the consolidated audit trail created by such plan has developed, in consultation with the Chief Economist, comprehensive internal risk control mechanisms to safeguard and govern the storage of all market data by such operator, all market data sharing agreements of such operator, and all academic research performed at such operator using market data. ; in section 3(a), by redesignating the second paragraph
(80)(relating to funding portals) as paragraph (81); and in section 3(a), by adding at the end the following: The term Chief Economist means the Director of the Division of Economic and Risk Analysis, or an employee of the Commission with comparable authority, as determined by the Commission. .
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Sec. 813
Internal risk controls
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