100 STAT. 3214
PUBLIC LAW 99-571—OCT. 28, 1986
securities brokers or government securities dealers specified in such rule or order. rrj!',
- .
"(0(1) Nothing in this section except paragraph (2) of this subsec,j, tion shall be construed to impair or limit the authority under any other provision of law of the Commission, the Secretary of the , vt •jh-.J::.- Treasury, the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Federal Home Loan Bank Board, the Federal Savings and Loan Insurance Corporation, the Secretary of Housing and Urban Development, and the Government National Mortgage ^,;'. Association. ,,. ]•'-' "(2) Notwithstanding any other provision of this title, the Commis-•> • sion shall not have any authority to make investigations of, require the filing of a statement by, or take any other action under this title against a government securities broker or government securities dealer, or any person associated with a government securities broker or government securities dealer, for any violation or threatened violation of the provisions of this section or the rules or regulations thereunder, unless the Commission is the appropriate regulatory agency for such government securities broker or government securities dealer. Nothing in the preceding sentence shall be construed to limit the authority of the Commission with respect to violations or threatened violations of any provision of this title other than this section, or the rules or regulations under any such other provision. Termination "(g)(1) The authority of the Secretary to issue orders and to date. propose and adopt rules under this section shall terminate on October 1, 1991. "(2) All orders and rules— "(A) which have been issued or adopted by the Secretary, and "(B) which are in effect on the date specified in paragraph (1), shall continue in effect according to their terms.". SEC. 102. CONFORMING AMENDMENTS.
I,
i,,, r1 '.;fV.
(a) DEFINITION OF EXEMPTED SECURITY.—Paragraph (12) of section 3(a) of the Act (15 U.S.C. 78c(a)(12)) is amended to read as follows: "(12)(A) The term 'exempted security' or 'exempted securities' includes— "(i) government securities, as defined in paragraph (42) of this subsection; "(ii) municipal securities, as defined in paragraph (29) of this subsection; , "(iii) any interest or participation in any common trust fund or similar fund maintained by a bank exclusively for the collective investment and reinvestment of assets contributed thereto by such bank in its capacity as trustee, executor, administrator, or guardian; "(iv) any interest or participation in a single trust fund, or a collective trust fund maintained by a bank, or any security arising out of a contract issued by an insurance t.;.* company, which interest, participation, or security is issued in connection with a qualified plan as defined in subparagraph (C) of this paragraph; and "(v) such other securities (which may include, among others, unregistered securities, the market in which is predominantly intrastate) as the Commission may, by such ,,.., rules and regulations as it deems consistent with the public
�
