HR 1408 · 107th Congress · Finance and Financial Sector

Financial Services Antifraud Network Act of 2001

Introduced 2001-04-04· Sponsored by Rep. Rogers, Mike J. [R-MI-8]· House

Bill Progress

1
Introduced
Committee
House Vote
4
Senate
5
Enacted
Latest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.(2001-11-07)

Recorded Votes

PassedHouse · 2001-11-06
Roll #427
Yea 392Nay 4
Democrats
184 Yea·0 Nay
Republicans
206 Yea·4 Nay
PassedHouse · 2001-11-06
Roll #427
Yea 392Nay 4
Democrats
184 Yea·0 Nay
Republicans
206 Yea·4 Nay

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Plain Language Summary

[AI summary unavailable — showing source text] Financial Services Antifraud Network Act of 2001 - Establishes the Antifraud Subcommittee within the President's Working Group on Financial Markets to coordinate access to: (1) antifraud databases of various regulators by designated Subcommittee participants; (2) information-sharing among State, Federal, and international financial regulators and law enforcement agencies; and (3) to promote greater cross-industry efficiency, effectiveness, and coordination across all sectors of the Nation's financial markets. Amends the Investment Advisers Act of 1940 to authorize the Securities and Exchange Commission (SEC) to require that an investment adviser file required documentation through any entity designated by the SEC for that purpose. Mandates that such entity establish a toll-free telephone or readily accessible electronic process to receive and respond promptly to inquiries regarding disciplinary actions and information involving investment advisers. Amends the Securities Exchange Act of 1934 to: (1) require a registered securities association to establish a toll-free telephone or readily accessible electronic process to receive and respond promptly to inquiries regarding disciplinar…

Summarized by Claude AI · Non-partisan · For informational purposes only

CBO Cost Estimate

Congressional Budget Office

H.R. 1408, Financial Services Antifraud Network Act of 2001

Jul 17, 2001

<p>Cost estimate for the bill as ordered reported by the House Committee on Financial Services on June 27, 2001</p>

Full CBO report ↗

H.R. 1408, Financial Services Antifraud Network Act of 2001

Jul 17, 2001

Cost estimate for the bill as ordered reported by the House Committee on Financial Services on June 27, 2001

Full CBO report ↗

H.R. 1408, Financial Services Antifraud Network Act of 2001

Oct 12, 2001

<p>Cost estimate for the bill as ordered reported by the House Committee on the Judiciary on October 10, 2001</p>

Full CBO report ↗

H.R. 1408, Financial Services Antifraud Network Act of 2001

Oct 12, 2001

Cost estimate for the bill as ordered reported by the House Committee on the Judiciary on October 10, 2001

Full CBO report ↗

Official non-partisan budget analysis by the Congressional Budget Office

Cosponsors (20)

4 Democrats16 Republicans