Page:United States Statutes at Large Volume 48 Part 1.djvu/921

 73d C ONGRESS. SESS. II. CH. 404. JUNE 6, 1934. 895 balance sheet and the earning statement, and the methods to be n methods state - ments- of followed in the preparation of reports, in the appraisal or valuation preparation, calcula- of ass ets an d liab ilitie s, in the de termina tion o f depr eciati on and lion, etc. depletion, in the differentiation of recurring and nonrecurring income, in the differentiation of investment and operating income, and in the preparation, where the Commission deems it necessary or desirable, of separate and/or consolidated balance sheets or income accounts of any person directly or indirectly controlling or con- trolled by th e issu er, or any p erson under d irect or ind irect common control with the issuer ; but in the case of the reports of any person whose methods of accounting are prescribed under the provisions of any law of the United States, or any rule or regulation thereunder, the rules and regulations of the Commission with respect to reports laConflict with any shall not be inconsistent with the requirements imposed by such law or rule or regulation in respect of the same subject matter, and, in the case of carriers subject to the provisions of section 20 of the Post, p. 899. Interstate Commerce Act, as amended, or carriers required pur- Common carriers. suant to any other Act of Congress to ma ke reports of the same general character as those required under such section 20, shall per- etDu i bee filed ports , mit such carriers to file with the Commission and the exchange commission. duplicate copies of the reports and other documents filed with the Inter state Comm erce Comm issio n, o r wit h the gove rnme ntal autho r- ity administering such other Act of Congress, in lieu of the reports, information and documents required under this section and section 12 in respect of the same subject matter. (c) If in the judgment of the Commission any report required Additional informa- under subsection (a) is inapplicable to any specified class or classes ~freports inapplbie of issuer s, the Co mmission shall req uire in l ieu there of of the submis- si on of such r eports of co mparab le cha racter as it may de em app lica- ble to such class or classes of issuers. PROXIES Proxies. SEC. 14 . (a) It shall be unlawful for any person, by the use of the mails or by any means or instrumentality of interstate commerce or of any facili ty of any na tional secur ities e xchang e or o therwi se to solicit or to permit the use of his name to solicit any proxy or consent or auth orizat ion in respe ct of any se curity (other than an exe mpted securit y) reg istere d on a ny nat ional securit ies ex change in co ntra- vention of such rules and regulations as the Commission may pre- scribe as necessary or appropriate in the public interest or for the protection of investors. (b) It shall be unlawful for any member of a national securities exchange or any broker or dealer who transacts a business in secur- ities through the medium of any such member to give a proxy, con- sent, or authorization in respect of any security registered on a national securities exchange and carried for the account of a cus- tomer in contravention of such rules and regulations as the Com- mission may prescribe as necessary or appropriate in the public inter- est or for the protection of investors. Solicitation of, in c ontra venti on of rule s, prohibited. Giving proxy in re- spect of registered se- curity carried for cus- tomer, by member, pro- hibited. OVER-THE-COUNTER MARKETS Over-the-counter mar kets. SEC. 15. It shall be unlawful, in contravention of such rules and Use of the mails and interstate commerce for regulations as the Commission may prescribe as necessary or appro- creatin g market. priate in the publi c inte rest a nd to insure to inv estors prote ction comparable to that provided by and under authority of this title in the case of national securities exchanges, (1) for any broker or dealer, singly or with any other person or persons, to make use of the