US Congress House Bill 6204 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on July 25 2012 - 25% progression, died in committee
Action: 2012-10-01 - Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
Pending: House Subcommittee on Capital Markets and Government Sponsored Enterprises Committee
Text: Latest bill text (Introduced) [PDF]

Investment Adviser Examination Improvement Act of 2012 - Declares the sense of Congress that the Securities and Exchange Commission (SEC) should increase the number and frequency of examinations of investment advisers. Amends the Investment Advisers Act of 1940 to direct the SEC to collect an annual fee from investment advisers subject to SEC inspection or examination to defray the cost of such inspections and examinations. Exempts certain state-regulated investment advisers from the requirement to pay an annual fee. Prescribes a fee calculation formula. Requires the SEC to make the formula publicly available on its website along with the factors used to reach the fee determination. Requires the Comptroller General to audit biennially the use of such fees, SEC reviews of the fee formula, and any adjustments to it. Makes such fees available to the SEC, without further appropriation or fiscal year limitation, to pay costs associated with inspecting and examining investment advisers.

Investment Adviser Examination Improvement Act of 2012

Rep. Maxine Waters [D-CA]

Rep. Michael Capuano [D-MA]

Rep. Barney Frank [D-MA]

Date	Chamber	Action
2012-10-01	House	Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
2012-07-25	House	Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/6204/all-info
Text	https://www.congress.gov/112/bills/hr6204/BILLS-112hr6204ih.pdf