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S 1393 112th Congress Senate Finance and Financial Sector Administrative law and regulatory procedures Administrative remedies Civil actions and liability Climate change and greenhouse gases Government information and archives Securities Securities and Exchange Commission (SEC)

Maintaining Agency Direction on Financial Fraud Act

Introduced: July 20, 2011 Introduced by: Barrasso, John Republican · Wyoming See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 20, 2011
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 20, 2011
Introduced in Senate
 Plain-English summary Congressional Research Service

Maintaining Agency Direction on Financial Fraud Act - Prohibits any interpretive guidance issued by the Securities and Exchange Commission (SEC) which relates to "Commission Guidance Regarding Disclosure Related to Climate Change" from taking effect with respect to any person on or after February 2, 2010.

Prohibits the SEC from issuing interpretive guidance: (1) with respect to disclosures related to climate change after this Act's effective date; and (2) that would establish any requirements with respect to the content of or format for any disclosures related to climate change voluntarily submitted by any entity to the SEC after such date.

Prohibits the SEC from initiating any civil or administrative action or proceeding pertaining to disclosures related to climate change after this Act's enactment and terminates any such actions or proceedings that are pending.

Prohibits this Act from being construed to: (1) prohibit the SEC from issuing interpretive guidance with respect to disclosures related to non-anthropogenic or natural climate variability observed over comparable time periods; or (2) terminate an administrative action or proceeding pertaining to such disclosures.

What's happening now July 20, 2011

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 1