Page:United States Statutes at Large Volume 114 Part 5.djvu/473

 PUBLIC LAW 106-554—APPENDIX E 114 STAT. 2763A-433 or property, maintenance of books and records, financial reporting, or other financial responsibility rules, involving security fiitures products; and (ii) similar provisions of the Commodity Exchange Act and rules and regulations thereunder involving security futures products. ". (i) OBLIGATION TO ADDRESS DUPLICATIVE REGULATION OF DUAL REGISTRANTS.— Section 6 of the Securities Exchange Act of 1934 (15 U.S.C. 78f) is amended by inserting after subsection (h), as added by subsection (a) of this section, the following: "(i) Consistent with this title, each national securities exchange registered pursuant to subsection (a) of this section shall issue such rules as are necessary to avoid duplicative or conflicting rules 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 4fta) of the Commodity Exchange Act (except paragraph (2) thereof), with respect to the application of— (1) rules of such national securities exchange of the type specified in section 15(c)(3)(B) involving security futures products; and (2) similar rules of national securities exchanges registered pursuant to section 6(g) and national securities associations registered pursuant to section 15A(k) involving security futures products.". (j) OBLIGATION TO ADDRESS DUPLICATIVE REGULATION OF DUAL REGISTRANTS.— Section 15A of the Securities Exchange Act of 1934 (15 U.S.C. 78o-3) is amended by inserting after subsection (k), as added by section 203, the following: "(1) Consistent with this title, each national securities association registered pursuant to subsection (a) of this section shall issue such rules as are necessary to avoid duplicative or conflicting rules 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— "(1) rules of such national securities association of the type specified in section 15(c)(3)(B) involving security futures products; and "(2) similar rules of national securities associations registered pursuant to subsection (k) of this section and national securities exchanges registered pursuant to section 6(g) involving security futures products.". (k) OBLIG^.TION TO PUT IN PLACE PROCEDURES AND ADOPT RULES. — (1) NATIONAL SECURITIES ASSOCIATIONS. — Section 15A of the Securities Exchange Act of 1934 (15 U.S.C. 78o-3) is amended by inserting after subsection (1), as added by subsection (j) of this section, the following new subsection: "(m) PROCEDURES AND RULES FOR SECURITY FUTURE PROD- UCTS. — ^A national securities association registered pursuant to subsection (a) shall, not later than 8 months after the date of the enactment of the Commodity Futures Modernization Act of 2000, implement the procedures specified in section 6(h)(5)(A) of this title and adopt the rules specified in subparagraphs (B) and (C) of section 6(h)(5) of this title.".

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