Page:United States Statutes at Large Volume 114 Part 5.djvu/472

 114 STAT. 2763A-432 PUBLIC LAW 106-554—APPENDIX E and consider the views of the Commodity Futures Trading Commission."; and (2) in paragraph (2)(B), by inserting after the first sentence the following: "If the actions described in subparagraph (A) involve a security futures product, the Commission shall consult with and consider the views of the Commodity Futures Trading Commission.". (f) TRANSACTION FEES. — Section 31 of the Securities Exchange Act of 1934 (15 U.S.C. 78ee) is amended— (1) in subsection (a), by inserting "and assessments" after "fees"; (2) in subsections (b), (c), and (d)(1), by striking "and other evidences of indebtedness" and inserting "other evidences of indebtedness, and security futures products"; (3) in subsection (f), by inserting "or assessment" after "fee"; (4) in subsection (g), by inserting "and assessment" after "fee"; (5) by redesignating subsections (e), (f), and (g) as subsections (f), (g), and (h), respectively; and (6) by inserting after subsection (d) the following new subsection: "(e) ASSESSMENTS ON SECURITY FUTURES TRANSACTIONS.—Each national securities exchange and national securities association shall pay to the Commission an assessment equal to $0.02 for each round turn transaction (treated as including one purchase and one sale of a contract of sale for future delivery) on a security future traded on such national securities exchange or by or through any member of such association otherwise than on a national securities exchange, except that for fiscal year 2007 or any succeeding fiscal year such assessment shall be equal to $0.0075 for each such transaction. Assessments collected pursuant to this subsection shall be deposited and collected as general revenue of the Treasury.". (g) EXEMPTION FROM SHORT SALE PROVISIONS.— Section 10(a) of the Securities Exchange Act of 1934 (15 U.S.C 78j(a)) is amended— (1) by inserting "(1)" after "(a)"; and (2) by adding at the end the following: "(2) Paragraph (1) of this subsection shall not apply to security futures products.". (h) RULEMAKING AUTHORITY TO ADDRESS DUPLICATIVE REGULA- TION OF DUAL REGISTRANTS.— Section 15(c)(3) of the Securities Exchange Act of 1934 (15 U.S.C. 78o(c)(3)) is amended— (1) by inserting "(A)" after "(3)"; and (2) by adding at the end the following: "(B) Consistent with this title, the Commission, in consultation with the Commodity Futures Trading Commission, shall issue such rules, regulations, or orders as are necessary to avoid duplicative or conflicting regulations applicable to any broker or dealer registered with the Commission pursuant to section 15(b) (except paragraph (11) thereof), that is also registered with the Commodity Futures Trading Commission pursuant to section 4f(a) of the Commodity Exchange Act (except paragraph (2) thereof), with respect to the application of: (i) the provisions of section 8, section 15(c)(3), and section 17 of this title and the rules and regulations thereunder related to the treatment of customer funds, securities.

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