Sec. 209. JOINT STUDY ON THE IMPACT OF ADDITIONAL SECURITIES BASED ON POOLED OBLIGATIONS
459 words·~2 min read·
/statute-compilations/comps-10825/sec-209A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
## SEC. 209 JOINT STUDY ON THE IMPACT OF ADDITIONAL SECURITIES BASED ON POOLED OBLIGATIONS **[**[15 U.S.C. 78b](/us/usc/t15/s78b) nt**]** ###
(a)Joint Study Required The Board and the Commission shall conduct a joint study of the impact of the provisions of this subtitle (including the amendments made by this subtitle) on the credit and securities markets. Such study shall evaluate— ####
(1)the impact of the provisions of this subtitle on the availability of credit for business and commercial enterprises in general, and the availability of credit in particular for— #####
(A)businesses in low- and moderate-income areas; #####
(B)businesses owned by women and minorities; #####
(C)community development efforts; #####
(D)community development financial institutions; #####
(E)businesses in different geographical regions; and #####
(F)a diversity of types of businesses; ####
(2)the structure and operation of the markets that develop for small business related securities and commercial mortgage related securities, including the types of entities (such as pension funds and insurance companies) that are significant purchasers of such securities, the extent to which such entities are sophisticated investors, the use of credit enhancements in obtaining investment-grade ratings, any conflicts of interest that arise in such markets, and any adverse effects of such markets on commercial real estate ventures, pension funds, or pension fund beneficiaries; ####
(3)the extent to which the provisions of this subtitle with regard to margin requirements, the number of eligible investment rating categories, preemption of State law, and the treatment of such securities as government securities for the purpose of State investment limitations, affect the structure and operation of such markets; and ####
(4)in view of the findings made pursuant to paragraphs
(2)and (3), any additional suitability or disclosure requirements or other investor protections that should be required. ###
(b)Reports ####
(1)In general The Board and the Commission shall submit to the Congress a report on the results of the study required by subsection
(a)before the end of— #####
(A)the 2-year period beginning on the date of enactment of this Act; #####
(B)the 4-year period beginning on such date of enactment; and #####
(C)the 6-year period beginning on such date of enactment. ####
(2)Contents of report Each report required under paragraph
(1)shall contain or be accompanied by such recommendations for administrative or legislative action as the Board and the Commission consider appropriate and may include recommendations regarding the need to develop a system for reporting additional information concerning investments by the entities described in subsection (a)(2). ###
(c)Definitions As used in this section— ####
(1)the term “**Board**” means the Board of Governors of the Federal Reserve System; and ####
(2)the term “**Commission**” means the Securities and Exchange Commission.
Connectionstraces to 1
Traces to 1 document
U.S. Code
Citation graph
cites case law
Sec. 209
JOINT STUDY ON THE IMPACT OF ADDITIONAL SECURITIES BASED ON POOLED OBLIGATIONS
Cites 1Cited by 0 across 0 sources