107 STAT. 2348 PUBLIC LAW 103-202—DEC. 17, 1993 any person or class or persons, or any transaction or class of transactions, from the requirements of this subsection. Confidentiality. «(6) LIMITATION ON DISCLOSURE OF INFORMATION.—Notwithstanding any other provision of law, the Secretary and the Commission shall not be compelled to disclose any information required to be kept or reported under this subsection. Nothing in this subsection shall authorize the Secretary or the Commission to withhold information from Congress, or prevent the Secretary or the Commission from complying with a request for information from any other Federal department or agency requesting information for purposes within the scope of ite jurisdiction, or from complying with an order of a court of the United States in an action brought by the United States, the Secretary, or the Commission. For purposes of section 552 of title 5, United States Code, this paragraph shall be considered a statute described in subsection (b)(3)(B) of such section 552. ". SEC. 105. AUTHORITY OF THE COMMISSION TO REGULATE TRANS- ACTIONS IN EXEMPTED SECURITIES. (a) PREVENTION OF FRAUDULENT AND MANIPULATIVE ACTS AND PRACTICES.— Section 15(c)(2) of the Securities Exchange Act of 1934 (15 U.S.C. 780(c)(2)) is amended— (1) by inserting "(A)" after "(2)"; (2) by striking "fictitious quotation, and no municipal securities dealer" and inserting the following: "fictitious quotation. "(B) No municipal securities dealer"; (3) by striking "fictitious quotation. The Commission shall" and inserting the following: "fictitious quotation. "(C) No government securities broker or government securities dealer shall make use of the mails or any means or instrumentahty of interstate commerce to effect any transaction in, or induce or attempt to induce the purchase or sale of, any government security in connection with which such government securities broker or government securities dealer engages in any fraudulent, deceptive, or manipulative act or practice, or makes any fictitious quotation. "(D) The Commission shall"; and (4) by adding at the end the following: "(E) The Commission shall, prior to adopting any rule or regulation under subparagraph (C), consult with and consider the views of the Secretary of the Treasury and each appropriate regulatory agency. If the Secretary of the Treasury or any appropriate regulatory agency comments in writing on a proposed rule or regulation of the Commission under such subparagraph (C) that has been published for comment, the Commission shall respond in writing to such written comment before adopting the proposed rule. If the Secretary of the Treasury determines, and notifies the Commission, that such rule or regulation, if implemented, would, or as applied does (i) adversely affect the liquidity or efficiency of the market for government securities; or (ii) impose any burden on competition not necessary or appropriate in furtherance of the purposes of this section, the Commission shall, prior to adopting the proposed rule or regulation, find that such rule or regulation is necessary and appropriate in furtherance of the purposes of this section notwithstanding the Secretary's determination.".
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