Sec. 810. Investor Advisory Committee improvements
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Section 39 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78pp ) is amended— in subsection (a)(2)(B), by striking submit and inserting, in consultation with the Small Business Capital Formation Advisory Committee established under section 40, submit ; in subsection (b)— in paragraph (1)— in subparagraph (C), by striking and ; in subparagraph (D)(iv), by striking the period at the end and inserting ; and ; and by adding at the end the following: a member of the Small Business Capital Formation Advisory Committee who shall be a nonvoting member. ; by amending paragraph
(2)to read as follows: Each member of the Committee appointed under paragraph (1), other than the Investor Advocate, shall serve for a term of 4 years. A member of the Committee may not serve for more than one term, except for the Investor Advocate, a representative of State securities commissions, and the member of the Small Business Capital Formation Advisory Committee. ; and in paragraph (3), by striking paragraph (1)(B) and inserting paragraph
(1); in subsection (c), by amending paragraph
(2)to read as follows: Each member elected under paragraph
(1)shall serve for a term of 3 years in the capacity for which the member was elected under paragraph (1). A member elected under paragraph
(1)may not serve for more than one term in the capacity for which the member was elected under paragraph (1). ; and by striking subsections
(i)and (j).
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Sec. 810
Investor Advisory Committee improvements
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