PUBLIC LAW 105-72—NOV. 10, 1997 111 STAT. 1457 Public Law 105-72 105th Congress An Act To amend title I of the Employee Retirement Income Security Act of 1974 to Nov. 10, 1997 clarify treatment of investment managers under such title. [S 12271 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. INVESTMENT MANAGERS UNDER ERISA TO INCLUDE FIDU- CIARIES REGISTERED SOLELY UNDER STATE LAW ONLY IF FEDERAL REGISTRATION PROHIBITED UNDER RECENTLY ENACTED PROVISIONS. (a) IN GENERAL.— Section 3(38)(B) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1002(38)(B)) is amended— (1) by redesignating clauses (ii) and (iii) as clauses (iii) and (iv), respectively; and (2) by striking "who is" and all that follows through clause (i) and inserting the following: "who (i) is registered as an investment adviser under the Investment Advisers Act of 1940; (ii) is not registered as an investment adviser under such Act by reason of paragraph (1) of section 203A(a) of such Act, is registered as an investment adviser under the laws of the State (referred to in such paragraph (1)) in which it maintains its principal office and place of business, and, at the time the fiduciary last filed the registration form most recently filed by the fiduciary with such State in order to maintain the fiduciary's registration under the laws of such State, also filed a copy of such form with the Secretary;". (b) AVAILABILITY OF DOCUMENTS VIA FILING DEPOSITORY.— 29 USC 1002 A fiduciary shall be treated as meeting the requirements of section "o**. 3(38)(B)(ii) of the Employee Retirement Income Security Act of 1974 (as amended by subsection (a)) relating to provision to the Secretary of Labor of a copy of the form referred to therein, if a copy of such form (or substantially similar information) is available to the Secretary of Labor from a centralized electronic or other record-keeping database. (c) EFFECTIVE DATE. —The amendments made by subsection 29 USC 1002 (a) shall take effect on July 8, 1997, except that the requirement °ote. of section 3(38)(B)(ii) of the Employee Retirement Income Security Act of 1974 (as amended by this Act) for filing with the Secretary of Labor of a copy of a registration form which has been filed with a State before the date of the enactment of this Act, or is to be filed with a State during the 1-year period beginning
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