Sec. 401. Periodic review of final rules required
287 words·~1 min read·
/bill/118/hr/8339/rh/section-401A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 4 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78d ), as amended by section 201, is further amended by adding at the end the following: With respect to a final rule issued by the Commission, the Commission shall review such rule not later than 5 years after the date on which such final rule is issued, and every 5 years thereafter, to determine if any revision (including a rescission) to the rule is necessary or appropriate— to facilitate capital formation; to maintain fair and orderly markets; and for the protection of investors.
With respect to a final rule issued by the Commission before the date of enactment of this subsection, the first review of such rule required under paragraph
(1)shall occur before the end of the 5-year period beginning on the date of enactment of this subsection. The Commission shall— not later than 1 year after the date of the enactment of this subsection, submit to Congress and make publicly available a report that includes a plan to carry out the review required under this subsection with respect to the final rules described in paragraphs
(1)and (2); and not later than 5 years after the date of the enactment of this subsection and not less than once every 5 years thereafter, submit to Congress and make publicly available a report that identifies— each final rule the Commission reviewed under this subsection in the preceding 5-year period and an explanation of the Commission’s findings and actions taken or planned to be taken; and each action or review the Commission failed to carry out in the preceding 5-year period under the plan required under subparagraph
(A)and an explanation for such failure. .
Connectionstraces to 1
Traces to 1 document
Citation graph
cites case law
Sec. 401
Periodic review of final rules required
Cites 1Cited by 0 across 0 sources