§ 4. PROHIBITION ON FUTURE SALES OF PERIODIC PAYMENT PLANS.
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Amendment .— [Amended section 80a–27 of Title 15 , Commerce and Trade.] Technical Amendment .— [Amended section 80a–27 of Title 15 .] Report on Refunds, Sales Practices, and Revenues From Periodic Payment Plans .— Not later than 6 months after the date of enactment of this Act [ Sept. 29, 2006 ], the Securities and Exchange Commission shall submit to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, a report describing— any measures taken by a broker or dealer registered with the Securities and Exchange Commission pursuant to section 15(b) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78 o (b)) to voluntarily refund payments made by military service members on any periodic payment plan certificate, and the amounts of such refunds; after such consultation with the Secretary of Defense, as the Commission considers appropriate, the sales practices of such brokers or dealers on military installations over the 5 years preceding the date of submission of the report and any legislative or regulatory recommendations to improve such practices; and the revenues generated by such brokers or dealers in the sales of periodic payment plan certificates over the 5 years preceding the date of submission of the report, and the products marketed by such brokers or dealers to replace the revenue generated from the sales of periodic payment plan certificates prohibited under subsection (a).
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Cited by 5 sections
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- Public Law 476
- Public Law 527
- Public Law 528to authorize appropriations to be made for the disposition of remains of military personnel and civilian employees of the Army”, approved March 9, 1928, is hereby amended to read as follows: " “That there is hereby authorized to be appropriated from time to time such sums as may be necessary for fun
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- 15 USC 78
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§ 4
PROHIBITION ON FUTURE SALES OF PERIODIC PAYMENT PLANS.
Stat.×3
Fed. Reg.×1
U.S.C.×1
Cite15 USC 78
Cites 1Cited by 5 across 3 sources