SEC. 929I. PROTECTING CONFIDENTIALITY OF MATERIALS SUBMITTED
TO THE COMMISSION.
(a) SECURITIES EXCHANGE ACT OF 1934.—Section 24 of the
Securities Exchange Act of 1934 (15 U.S.C. 78x) is amended—
(1) in subsection (d), by striking ‘‘subsection (e)’’ and
inserting ‘‘subsection (f)’’;
(2) by redesignating subsection (e) as subsection (f); and
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(3) by inserting after subsection (d) the following:
‘‘(e) RECORDS OBTAINED FROM REGISTERED PERSONS.—
‘‘(1) IN GENERAL.—Except as provided in subsection (f),
the Commission shall not be compelled to disclose records or
information obtained pursuant to section 17(b), or records or
information based upon or derived from such records or
information, if such records or information have been obtained
by the Commission for use in furtherance of the purposes
of this title, including surveillance, risk assessments, or other
regulatory and oversight activities.
‘‘(2) TREATMENT OF INFORMATION.—For purposes of section
552 of title 5, United States Code, this subsection shall be
considered a statute described in subsection (b)(3)(B) of such
section 552. Collection of information pursuant to section 17
shall be an administrative action involving an agency against
specific individuals or agencies pursuant to section 3518(c)(1)
of title 44, United States Code.’’.
(b) INVESTMENT COMPANY ACT OF 1940.—Section 31 of the
Investment Company Act of 1940 (15 U.S.C. 80a-30) is amended—
(1) by striking subsection (c) and inserting the following:
‘‘(c) LIMITATIONS ON DISCLOSURE BY COMMISSION.—Notwithstanding
any other provision of law, the Commission shall not
be compelled to disclose any records or information provided to
the Commission under this section, or records or information based
upon or derived from such records or information, if such records
or information have been obtained by the Commission for use
in furtherance of the purposes of this title, including surveillance,
risk assessments, or other regulatory and oversight activities.
Nothing in this subsection authorizes the Commission to withhold
information from the Congress or prevent the Commission from
complying with a request for information from any other Federal
department or agency requesting the information for purposes
within the scope of jurisdiction of that department or agency, or
complying with an order of a court of the United States in an
action brought by the United States or the Commission. For purposes
of section 552 of title 5, United States Code, this section
shall be considered a statute described in subsection (b)(3)(B) of
such section 552. Collection of information pursuant to section
31 shall be an administrative action involving an agency against
specific individuals or agencies pursuant to section 3518(c)(1) of
title 44, United States Code.’’;
(2) by striking subsection (d); and
(3) by redesignating subsections (e) and (f) as subsections
(d) and (e), respectively.
(c) INVESTMENT ADVISERS ACT OF 1940.—Section 210 of the
Investment Advisers Act of 1940 (15 U.S.C. 80b-10) is amended
by adding at the end the following:
‘‘(d) LIMITATIONS ON DISCLOSURE BY THE COMMISSION.—Notwithstanding
any other provision of law, the Commission shall
not be compelled to disclose any records or information provided
to the Commission under section 204, or records or information
based upon or derived from such records or information, if such
records or information have been obtained by the Commission for
use in furtherance of the purposes of this title, including surveillance,
risk assessments, or other regulatory and oversight activities.
Nothing in this subsection authorizes the Commission to withhold
information from the Congress or prevent the Commission from
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complying with a request for information from any other Federal
department or agency requesting the information for purposes
within the scope of jurisdiction of that department or agency, or
complying with an order of a court of the United States in an
action brought by the United States or the Commission. For purposes
of section 552 of title 5, United States Code, this subsection
shall be considered a statute described in subsection (b)(3)(B) of
such section 552. Collection of information pursuant to section
204 shall be an administrative action involving an agency against
specific individuals or agencies pursuant to section 3518(c)(1) of
title 44, United States Code.’’.