To clarify that the transaction reporting requirement is not intended to apply to widely held investment funds.
Sen. Michael B. Enzi (R-WY)Legislative Activity
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Senate amendment agreed to: Amendment SA 1510 agreed to in Senate by Voice Vote.
February 2, 2012
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Senate amendment agreed to: Amendment SA 1510 agreed to in Senate by Voice Vote.
February 2, 2012
Senate amendment proposed (on the floor): Amendment SA 1510 proposed by Senator Collins for Senator Enzi to Amendment SA 1470.(consideration: CR S302; text: CR S302)
February 2, 2012
Amendment SA 1510 proposed by Senator Collins for Senator Enzi to Amendment SA 1470. (consideration: CR S302; text: CR S302) To clarify that the transaction reporting requirement is not intended to apply to widely held investment funds.
February 2, 2012
Amendment SA 1510 agreed to in Senate by Voice Vote.
February 2, 2012
Senate amendment submitted
February 1, 2012
Text
Submitted
SA 1510. Mr. ENZI submitted an amendment intended to be proposed by him 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 end of the amendment, insert the following: SEC. __. TRANSACTION REPORTING REQUIREMENTS. The transaction reporting requirements established by section 101(j) of the Ethics in Government Act of 1978, as added by section 6 of this Act, shall not be construed to apply to a widely held investment fund (whether such fund is a mutual fund, regulated investment company, pension or deferred compensation plan, or other investment fund), if-- (1)(A) the fund is publicly traded; or (B) the assets of the fund are widely diversified; and (2) the reporting individual neither exercises control over nor has the ability to exercise control over the financial interests held by the fund. ____________________