Page:United States Statutes at Large Volume 104 Part 4.djvu/402

 104 STAT. 2718 PUBLIC LAW 101-550—NOV. 15, 1990 (6) in subparagraph (F) (as redesignated) by striking "(D) or (E)" and inserting "(D), (E), or (G)" and by inserting after "such paragraph (4)" the first place it appears the following: "or any other felony", (c) CoNFORMiNG AMENDMENTS. — The Securities Exchange Act of 1944 (15 U.S.C. 78a et seq.) is amended— 15 USC 780, (1) in sections 15(b)(6), 15B(c)(2), 15B(c)(4), 15C(c)(l)(A), 78o-4.78o-5, 15C(c)(l)(C), 17A(c)(3)(A), and 17A(c)(4)(C), by striking "(A), (D), ^^~^- or (E)" and inserting "(A), (D), (E), or (G)"; and (2) in section 15C(fK2), by striking "or the rules or regulations under any such other provision" and inserting "the rules or regulations under any such other provision, or investigations pursuant to section 21(a)(2) of this title to assist a foreign securities authority". SEC. 204. DEFINITION OF FOREIGN FINANCIAL REGULATORY AUTHORITY. Section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)) is amended by adding at the end thereof the following new paragraph: "(51) The term 'foreign financial regulatory authority' means any (A) foreign securities authority, (B) other governmental body or foreign equivalent of a self-regulatory organization empowered by a foreign government to administer or enforce its laws relating to the regulation of fiduciaries, trusts, commercial lending, insurance, trading in contracts of sale of a commodity for future delivery, or other instruments traded on or subject to the rules of a contract market, board of trade, or foreign equivalent, or other financial activities, or (C) membership organization a function of which is to regulate participation of its members in activities listed above.". SEC. 205. SANCTIONS AGAINST INVESTMENT ADVISERS OR PERSONS ASSOCIATED OR SEEKING ASSOCIATION WITH A REGISTERED INVESTMENT ADVISER OR INVESTMENT COMPANY. (a) INVESTMENT COMPANY ACT OF 1940.— Section 9(b) of the Investment Company Act of 1940 (15 U.S.C. 80a-9(b)) is amended— (1) by striking "or" at the end of paragraphs (1) and (2); (2) by striking the period at the end of paragraph (3) and inserting a semicolon; and (3) by inserting after paragraph (3) the following: "(4) has been found by a foreign financial regulatory authority to have— "(A) made or caused to be made in any application for registration or report required to be filed with a foreign securities authority, or in any proceeding before a foreign securities authority with respect to registration, any statement that was at the time and in light of the circumstances under which it was made false or misleading with respect to any material fact, or has omitted to state in any application or report to a foreign securities authority any material fact that is required to be stated therein; "(B) violated any foreign statute or regulation regarding transactions in securities or contracts of sale of a commodity for future delivery traded on or subject to the rules of a contract market or any board of trade;

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