Page:United States Statutes at Large Volume 102 Part 5.djvu/677

 PUBLIC LAW 100-704—NOV. 19, 1988

102 STAT. 4683

lative branches of the Government (including the Department of Justice) as is necessary to enable the Commission to carry out this section; (C) may appoint, without regard to the civil service laws, rules, and regulations, such personnel as the Commission deems advisable to carry out such study and investigation and to fix their respective rates of compensation without regard to such laws, rules, and regulations, but no such rate shall exceed the rate payable pursuant to section 5314 of title 5, United States Code; and (D) may, on a reimbursable basis, use the services of personnel detailed to the Commission from any Federal agency. (4) SUPPORT FROM OTHER AGENCIES.—(A) The head of any Federal agency— (i) may detail employees to the Commission for the purposes of this section; and (ii) shall provide to the Commission such information as it requires for the performance of its functions under this section, consistent with applicable law. (B) The Comptroller General and the Director of the Office of Technology Assessment are authorized to assist the Commission in the performance of its functions under this section. (c) REPORTS AND INFORMATION TO CONGRESS.— (1) GENERAL REPORT.—The Commission shall

report to the Congress on the results of its study and investigation within 18 months after the date funds to carry out this section are appropriated under subsection (d). Such report shall include the Commission's recommendations, including such recommendations for legislation as the Commission deems advisable. (2) INTERIM INFORMATION TO CONGRESS.—The Commission shall keep the Committee on Energy and Commerce of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, and the members thereof, fully informed on the progress of, and any impediments to completing, the study and investigation required by this section. (d) AUTHORIZATION OF APPROPRIATIONS.—There are authorized to be appropriated $5,000,000 to carry out the study and investigation required by this section. (e) DEFINITIONS.—As used in this section— (1) the term "Commission" means the Securities and Exchange Commission; and (2) the term "Federal securities laws" has the meaning given the term securities laws by section 3(a)(47) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(47)). SEC. 8. COOPERATION WITH FOREIGN AUTHORITIES NATIONAL ORGANIZATIONS IN ENFORCEMENT.

AND INTER-

Section 35 of the Securities Exchange Act of 1934 is amended by 15 USC 78kk. adding at the end thereof the following new subsection: "(c) Funds appropriated pursuant to this section are authorized to be expended— "(1) for official reception and representation expenses, not to exceed $10,000 per year; and "(2) for the purpose of maintaining membership in and contributing to the operating expenses of the International

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