S.Amdt. 2118

SA 2118. Mr. MENENDEZ (for himself and Mr. Blumenthal) 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 appropriate place, insert the following:

SEC. ___. DISCLOSURE AND CERTIFICATION REGARDING INVESTMENTS
IN FIREARMS MANUFACTURERS AND IMPORTERS.

(a) Definitions.--In this section--
(1) the term ``Commission'' means the Securities and
Exchange Commission;
(2) the term ``covered entity'' means an importer or a
manufacturer, as those terms are defined in section 921(a) of
title 18, United States Code;
(3) the term ``held entity'' means an entity, the
securities of which a registered management company is
invested in;
(4) the term ``management company'' has the meaning given
the term in section 4 of the Investment Company Act of 1940
(15 U.S.C. 80a-4);
(5) the term ``registered management company'' means a
management company that has registered with the Commission
under the Investment Company Act of 1940 (15 U.S.C. 80a-1 et
seq.); and
(6) the term ``security'' has the meaning given the term in
section 2(a) of the Investment Company Act of 1940 (15 U.S.C.
80a-2(a)).
(b) Disclosure and Certification Required.--Not later than
180 days after the date of enactment of this Act, the
Commission shall revise section 270.30e-1 of title 17, Code
of Federal Regulations, or any successor regulation, to
require each registered management company, in each
transmission to stockholders of the company that is required
under that section, or any successor regulation, as
applicable, to--
(1) disclose whether any held entity with respect to the
company is a covered entity; and
(2) certify that, in making the disclosure required under
paragraph (1), the company exercised due diligence to
determine whether any held entity with respect to the company
is a covered entity, including whether any such held entity
exercises control over--
(A) a covered entity; or
(B) a subsidiary of a covered entity.
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