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Investment Adviser Oversight Act of 1993

Introduced: February 24, 1993 See on congress.gov
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 Everywhere this bill has been 19 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 6, 1994
Message on House action received in Senate and at the desk: House amendment to Senate bill.
Oct 5, 1994
Motion to reconsider laid on the table Agreed to without objection.
Oct 5, 1994
On passage Passed without objection.
Oct 5, 1994
Passed/agreed to in House: On passage Passed without objection.
Oct 5, 1994
Considered by unanimous consent. (consideration: CR H10951-10957)
Oct 5, 1994
Mr. Markey asked unanimous consent to discharge from committee and consider.
Oct 5, 1994
Committee on Energy and Commerce discharged.
Dec 20, 1993
Referred to the Subcommittee on Telecommunications and Finance.
Nov 21, 1993
Referred to the House Committee on Energy and Commerce.
Nov 21, 1993
Received in the House.
Nov 21, 1993
Message on Senate action sent to the House.
Nov 20, 1993
Passed Senate with amendments by Voice Vote. (consideration: CR S16861-16862)
Nov 20, 1993
Passed/agreed to in Senate: Passed Senate with amendments by Voice Vote.(consideration: CR S16861-16862)
Nov 10, 1993
Placed on Senate Legislative Calendar under General Orders. Calendar No. 277.
Nov 10, 1993
Committee on Banking. Reported to Senate by Senator Riegle with amendments. With written report No. 103-177.
Oct 19, 1993
Committee on Banking. Ordered to be reported with amendments favorably.
Feb 24, 1993
Read twice and referred to the Committee on Banking.
Feb 24, 1993
Sponsor introductory remarks on measure. (CR S2011-2013, S2015)
Feb 24, 1993
Introduced in Senate
 Plain-English summary Congressional Research Service

Investment Adviser Oversight Act of 1993 - Amends the Investment Advisers Act of 1940 to authorize the Securities and Exchange Commission to establish fees to recover the costs of: (1) enhanced efforts to register all persons required to be registered under the Act; and (2) enhanced supervision and regulation of investment advisers and their activities. Requires advisers to pay such fees at the time of filing an application for registration.

Authorizes the Commission to: (1) suspend the registration of an investment adviser for failure to make timely fee payments; (2) reinstate such registration upon payment of the fee if the suspension was based solely on failure to pay it; and (3) require an adviser to file any required fee, application, report, or notice through any person the Commission designates and to pay reasonable filing costs.

Authorizes the Commission to require that registered advisers be bonded against larceny and embezzlement. Directs the Commission to study: (1) the availability of fidelity bonds for large and small-scale investment advisers and advisers located in non-urban areas; and (2) the impact of this Act's bonding requirements upon the competitive position of small-scale investment advisers.

Prohibits the Commission from requiring investment advisers from obtaining a fidelity bond if: (1) the bonds are not reasonably or readily available in their locality; or (2) if the cost of obtaining the bonds would have a substantial adverse impact upon such advisers' competitive positions.

What's happening now October 6, 1994

Message on House action received in Senate and at the desk: House amendment to Senate bill.

 Committees of jurisdiction 3
 Cosponsors 1
All 1 Democratic 1