HR 7836 · 96th Congress · Civil Rights and Liberties, Minority Issues
Securities Law Investigation Privacy Protection Act
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to House Committee on Interstate and Foreign Commerce.(1980-07-25)
Plain Language Summary
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Securities Law Investigation Privacy Protection Act - Amends the Right to Financial Privacy Act of 1978 to apply its provisions to the Securities and Exchange Commission, except as provided in the Securities Exchange Act of 1934. Amends the Securities Exchange Act of 1934 to authorize the Commission to obtain copies of information contained in financial records of a customer from a financial institution without prior notice to the customer upon an ex parte showing to an appropriate district court that the Commission: (1) seeks such records pursuant to a subpoena issued in conformity with the requirements of the Federal securities laws; and (2) has reason to believe that specified acts or results will occur. Requires, upon expiration of any authorized period of delay of notification, that the customer be served with a copy of the subpoena along with a specified notice which describes the nature of the investigation. Directs the Commission to compile an annual tabulation of the occasions on which the Commission obtains access to financial records of a customer as authorized under this Act and include such tabulation in its annual report to Congress. Permits a customer, following the …
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (9)
7 Democrats2 Republicans