S.Amdt. 1506
What it does: Adds SEC. __. SHAREHOLDER REGISTRATION THRESHOLD wherever appropriate
Sen. Kay Bailey Hutchison (R-TX)What it changes
1 change to S. 2038
Adds SEC. __. SHAREHOLDER REGISTRATION THRESHOLD wherever appropriate
Adds a sectionInserted: SEC. __. SHAREHOLDER REGISTRATION THRESHOLD.
Inserted: (a) Amendments to Section 12 of the Securities Exchange Act of 1934.--Section 12(g) of the Securities Exchange Act of 1934 (15 U.S.C. 781(g)) is amended--
Inserted: (1) in paragraph (1)--
Inserted: (A) by striking subparagraphs (A) and (B) and inserting the following:
Inserted: "(A) in the case of an issuer that is a bank, as such term is defined in section 3(a)(6) of this title, or a bank holding company, as such term is defined in section (2) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841), 2000 persons or more; and
Inserted: "(B) in the case of an issuer that is not a bank or bank holding company, 500 persons or more,"; and
Inserted: (B) by striking "commerce shall" and inserting "commerce shall, not later than 120 days after the last day of its first fiscal year ended after the effective date of this subsection, on which the issuer has total assets exceeding $10,000,000 and a class of equity security (other than an exempted security) held of record by"; and
Inserted: (2) in paragraph (4), by striking "three hundred" and inserting "300 persons, or, in the case of a bank, as such term is defined in section 3(a)(6), or a bank holding company, as such term is defined in section (2) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841), 1200".
Inserted: (b) Amendments to Section 15 of the Securities Exchange Act of 1934.--Section 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78o(d)) is amended, in the third sentence, by striking "three hundred" and inserting "300 persons, or, in the case of bank, as such term is defined in section 3(a)(6), or a bank holding company, as such term is defined in section (2) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841), 1200".
Inserted: (c) Rulemaking.--Not later than 1 year after the date of enactment of this Act, the Commission shall issue final regulations to implement this section and the amendments made by this section.
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Original wording
At the appropriate place, insert the following:
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As printed
SA 1506. Mrs. HUTCHISON submitted an amendment intended to be proposed by her to the bill S. 2038, to prohibit Members of Congress and employees of Congress from using nonpublic information derived from their official positions for personal benefit, and for other purposes; which was ordered to lie on the table; as follows:
At the appropriate place, insert the following:
SEC. __. SHAREHOLDER REGISTRATION THRESHOLD.
(a) Amendments to Section 12 of the Securities Exchange Act of 1934.--Section 12(g) of the Securities Exchange Act of 1934 (15 U.S.C. 781(g)) is amended--
(1) in paragraph (1)--
(A) by striking subparagraphs (A) and (B) and inserting the following:
“(A) in the case of an issuer that is a bank, as such term is defined in section 3(a)(6) of this title, or a bank holding company, as such term is defined in section (2) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841), 2000 persons or more; and
“(B) in the case of an issuer that is not a bank or bank holding company, 500 persons or more,”; and
(B) by striking “commerce shall” and inserting “commerce shall, not later than 120 days after the last day of its first fiscal year ended after the effective date of this subsection, on which the issuer has total assets exceeding $10,000,000 and a class of equity security (other than an exempted security) held of record by”; and
(2) in paragraph (4), by striking “three hundred” and inserting “300 persons, or, in the case of a bank, as such term is defined in section 3(a)(6), or a bank holding company, as such term is defined in section (2) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841), 1200”.
(b) Amendments to Section 15 of the Securities Exchange Act of 1934.--Section 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78o(d)) is amended, in the third sentence, by striking “three hundred” and inserting “300 persons, or, in the case of bank, as such term is defined in section 3(a)(6), or a bank holding company, as such term is defined in section (2) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841), 1200”.
(c) Rulemaking.--Not later than 1 year after the date of enactment of this Act, the Commission shall issue final regulations to implement this section and the amendments made by this section.
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Senate amendment submitted
February 1, 2012