Penny Stock Reform Act of 1990: Report (to Accompany H.R. 4497) (including Cost Estimate of the Congressional Budget Office).

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Page 35 - CHANGES IN EXISTING LAW MADE BY THE BILL, AS REPORTED In compliance with clause 3 of rule XIII of the Rules of the House of Representatives, changes in existing law made by...
Page 35 - Changes in Existing Law Made bt the Bill, As Reported In compliance with clause 3 of Rule XIII of the Rules of the House of Representatives, changes in existing law made by the bill, as reported, are shown as follows (existing law proposed to be omitted is enclosed in black brackets, new matter is printed in italic, existing law in which no change is proposed is shown in roman) : TITLE 38, UNITED STATES CODE PART I. GENERAL PROVISIONS CHAPTER 1— GENERAL 101. Definitions For the purposes of this...
Page 2 - Court of Appeals for the Federal circuit, to establish a US Claims Court, and for other purposes, having considered the same, report favorably thereon with an amendment and recommend that the bill as amended do pass; The amendment is as follows : Strike out all after the enacting clause and insert in lieu thereof the following: That this Act may be cited as the "Court of Appeals for the Federal Circuit Act of 1960".
Page 37 - Commission finds, on the record after notice and opportunity for hearing, that such censure, placing of limitations, suspension, or bar is in the public interest and that such person has committed or omitted any act or omission enumerated in paragraph...
Page 38 - No broker or dealer shall make use of the mails or any means or instrumentality of interstate commerce to effect any transaction in, or to induce or attempt to induce the purchase or sale of, any security (other than an exempted security or commercial paper, bankers...
Page 41 - Except to the extent otherwise permitted or required pursuant to this subsection or subsections (c), (d), or (e)— (1) a prospectus relating to a security other than a security issued by a foreign government or political subdivision thereof, shall contain the information contained in the registration statement, but it need not include the documents referred to in paragraphs (28) to (32), inclusive of Schedule A...
Page 3 - For purposes of this paragraph, the term 'person participating in an offering of penny stock' includes any person engaging in activities with a broker, dealer, or issuer for purposes of issuing, trading, or inducing or attempting to induce the purchase or sale of, any penny stock. The Commission may, by rule or regulation, define such term to include other activities, and may, by rule, regulation, or order, exempt any person or class of persons, in whole or in part, conditionally or unconditionally,...
Page 5 - It is in the public interest and appropriate for the protection of investors and the maintenance of fair and orderly markets...
Page 41 - ... shall have made or engaged in the performance of any such contract, and (2) as regards the rights of any person who, not being a party to such contract, shall have acquired any right thereunder with actual knowledge of the facts by reason of which the making or performance of such contract was in violation of any such provision, rule, regulation, or order.
Page 41 - ... as regards the rights of any person who, in violation of any such provision, rule, or regulation, shall have made or engaged in the performance of any such contract, and (2) as regards the rights of any person who, not being a party to such contract, shall have acquired any right thereunder with actual knowledge of the facts by reason of which the making or performance of such contract was in violation of any such provision...

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