HR 5726 · 102th Congress · Finance and Financial Sector
Securities Investor Protection Amendments of 1992
Bill Progress
✓
Introduced✓
Committee✓
House Vote4
Senate5
EnactedLatest: Laid on the table. See S. 2266 for further action.(1992-09-23)
Plain Language Summary
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Investment Adviser Regulatory Enhancement and Disclosure Act of 1992 - Amends the Investment Advisers Act of 1940 to authorize the Securities and Exchange Commission (SEC) to collect fees to cover specified costs of regulating investment advisers and their activities. Sets forth a sliding scale fee schedule based upon assets under adviser management. Authorizes the SEC to suspend the registration of any investment adviser for failure to pay the requisite fees. Directs the SEC to: (1) establish and periodically revise a schedule for the regular inspection of investment advisers (plus a more frequent schedule for certain advisers based upon enumerated risk factors; and (2) conduct and report to the Congress on surveys to determine the extent of, and reasons for, the failure of persons to register as mandated. Lists transactions which are prohibited for registered investment advisers with respect to fraudulent, deceptive, or manipulative practices, including the rendering of investment advice unsuitable to the client's financial situation and experience. Directs the SEC to promulgate rules with respect to such proscriptions. Requires registered investment advisers to disseminate to cl…
Summarized by Claude AI · Non-partisan · For informational purposes only