Securities Exchange Act Amendments

[AI summary unavailable — showing source text] Securities Exchange Act Amendments - Title I: Selection and Administration of the Commission - Provides that any Commissioner of the Securities and Exchange Commission may be removed by the President for neglect of duty or malfeasance in office, but for no other cause. Sets forth procedures for the appointment of a Commission chairman. Requires the Commission to submit any budget request to the Congress concurrently with transmittal to the Office of Management and Budget. Provide that when the Commission transmits any legislative recommendations, testimony, or comment on legislation to the Executive, it shall concurrently transmit a copy to the Congress, the President, and the Office of Management and Budget. Title II: Regulation of Exchanges and Associations - Includes within the term "member," for purposes of the Act, any person who agrees to be regulated by an exchange and with respect to whom the exchange undertakes to enforce the Federal securities laws and the exchange rules. Authorizes any exchange to register with the Commission as a national securities exchange by filing with the Commission a registration statement. Requires the rules of every exchange to provide for a fai…