S.Amdt. 2108

SA 2108. Mr. MERKLEY submitted an amendment intended to be proposed
by him to the bill S. 2155, to promote economic growth, provide
tailored regulatory relief, and enhance consumer protections, and for
other purposes; which was ordered to lie on the table; as follows:

At the end of title III, add the following:

SEC. 308. CONFLICTS OF INTEREST RELATING TO CERTAIN
SECURITIZATIONS.

(a) In General.--Section 621(b) of the Dodd-Frank Wall
Street Reform and Consumer Protection Act (Public Law 111-
203; 15 U.S.C. 77z-2a note) is amended to read as follows:
``(b) Effective Date.--Section 27B of the Securities Act of
1933, as added by this section, shall take effect on the date
of enactment of this Act.''.
(b) Private Right of Action.--Section 27B of the Securities
Act of 1933 (15 U.S.C. 77z-2a) is amended by adding at the
end the following:
``(e) Private Right of Action.--An investor aggrieved by a
violation of subsection (a) may bring an action in an
appropriate district court of the United States to recover
damages related to the material conflict of interest that
resulted from the transaction of the underwriter, placement
agent, initial purchaser, or sponsor, or any affiliate or
subsidiary of any such entity, of an asset-backed security,
as applicable.''.
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