Page:United States Statutes at Large Volume 110 Part 5.djvu/342

 110 STAT. 3416 PUBLIC LAW 104-290—OCT. 11, 1996 Public Law 104- 104th Congress -290 Oct. 11, 1996 [H.R. 3005] National Securities Markets Improvement Act of 1996. 15 USC 78a note. An Act To amend the Federal securities laws in order to promote efficiency and capital formation in the financial markets, and to amend the Investment Company Act of 1940 to promote more efficient management of mutual funds, protect investors, and provide more effective and less burdensome regulation. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE; TABLE OF CONTENTS. (a) SHORT TITLE. —T his Act may be cited as the "National Securities Markets Improvement Act of 1996". (b) TABLE OF CONTENTS. —The table of contents of this Act is as follows: Sec. 1. Short title; table of contents. Sec. 2. Definitions. Sec. 3. Severability. TITLE I—CAPITAL MARKETS Sec. 101. Short title. Sec. 102. Creation of national securities markets. Sec. 103. Broker-dealer exemptions from State law. Sec. 104. Broker-dealer funding. Sec. 105. Exemptive authority. Sec. 106. Promotion of efficiency, competition, and capital formation. Sec. 107. Privatization of EDGAR. Sec. 108. Improving coordination of supervision. Sec. 109. Increased access to foreign business information. TITLE II—INVESTMENT COMPANY ACT AMENDMENTS Sec. 201. Short title. Sec. 202. Funds of funds. Sec. 203. Flexible registration of securities. Sec. 204. Facilitating use of current information in advertising. Sec. 205. Variable insurance contracts. Sec. 206. Reports to the Commission and shareholders. Sec. 207. Books, records, and inspections. Sec. 208. Prohibition on deceptive investment company names. Sec. 209. Amendments to definitions. Sec. 210. Performance fees exemptions. TITLE III—INVESTMENT ADVISERS SUPERVISION COORDINATION ACT Sec. 301. Short title. Sec. 302. Funding for enhanced enforcement prioriW. Sec. 303. Improved supervision through State and Federal cooperation. Sec. 304. Interstate cooperation. Sec. 305. Disqualification of convicted felons. Sec. 306. Investor access to information. Sec. 307. Continued State authority. Sec. 308. Effective date. TITLE IV—SECURITIES AND EXCHANGE COMMISSION AUTHORIZATION Sec. 401. Short title.

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