Page:United States Statutes at Large Volume 96 Part 2.djvu/47

 PUBLIC LAW 97-303—OCT. 13, 1982

96 STAT. 1409

Public Law 97-803 97th Congress

An Act To clarify the jurisdiction of the Securities and Exchange Commission and the definition of security, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled. SECTION 1. Section 2(1) of the Securities Act of 1933 (15 U.S.C. 77b(l)) is amended by inserting after "mineral rights," the following: "any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency,". SEC. 2. Section 3(a)(10) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(10)) is amended by inserting after "for a security," the following: "any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency,". SEC. 3. Section 9 of the Securities Exchange Act of 1934 (15 U.S.C. 78i) is amended— (1) by striking out "this section" in subsection (f) and inserting in lieu thereof subsection (a)"; and (2) by inserting after subsection (f) the following new subsection: "(g) Notwithstanding any other provision of law, the Commission shall have the authority to regulate the trading of any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency (but not, with respect to any of the foregoing, an option on a contract for future delivery).". SEC. 4. Section 28(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78bb(a)) is amended by adding at the end thereof the following new sentence: "No State law which prohibits or regulates the making or promoting of wagering or gaming contracts, or the operation of 'bucket shops' or other similar or related activities, shall invalidate any put, call, straddle, option, privilege, or other security, or apply to any activity which is incidental or related to the offer, purchase, sale, exercise, settlement, or closeout of any such instrument, if such instrument is traded pursuant to rules and regulations of a self-regulatory organization that are filed with the Commission pursuant to section 19(b) of this Act.". SEC. 5. Section 2(a)(36) of the Investment Company Act of 1940 (15 U.S.C. 80a-2(a)(36)) is amended by inserting after "mineral rights," the following: "any put, call, straddle, option, or privilege on any security (including a certificate of deposit) or on any group or index of securities (including any interest therein or based on the value

Oct. 13, 1982 [H.R. 6156] Securities and Exchange Commission, jurisdiction clarification.

Authority to regulate trading.

15 USC 79s.

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