United States Code

15 U.S.C. § 80a-30

Accounts and records

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Bills that would change it 33

  • HR 7221 Stopping Wall Street From Competing With Main Street Homebuyers Act Amends its part · introduced · 119th Congress
  • HR 7186 American Family Housing Act Amends its part · introduced · 119th Congress
  • S 1582 GENIUS Act Amends its part · enacted · 119th Congress
  • HR 6783 Capital Markets Financing and Economic Growth Investments Act of 2023 Amends its part · introduced · 118th Congress
  • S 152 American Financial Markets Integrity and Security Act Amends its part · introduced · 118th Congress
  • HR 7776 James M. Inhofe National Defense Authorization Act for Fiscal Year 2023 Amends its part · enacted · 117th Congress
  • HRES 1512 Providing for the concurrence by the House in the Senate amendment to H.R. 7776, with an amendment. Amends its part · introduced · 117th Congress
  • HR 7457 Hold CCP Accountable Act of 2022 Amends its part · introduced · 117th Congress
  • HR 5648 Stop Wall Street Looting Act Amends its part · introduced · 117th Congress
  • HR 7900 National Defense Authorization Act for Fiscal Year 2023 Amends its part · introduced · 117th Congress
  • HR 9089 Consumer Financial Choice and Capital Markets Protection Act of 2022 Amends its part · introduced · 117th Congress
  • S 3022 Stop Wall Street Looting Act Amends its part · introduced · 117th Congress
  • S 4295 Financial Data Transparency Act of 2022 Amends its part · introduced · 117th Congress
  • HR 2989 Financial Transparency Act of 2021 Amends its part · introduced · 117th Congress
  • S 2684 Consumer Financial Choice and Capital Markets Protection Act of 2021 Amends its part · introduced · 117th Congress
  • HR 1562 American Financial Markets Integrity and Security Act Amends its part · introduced · 117th Congress
  • S 570 American Financial Markets Integrity and Security Act Amends its part · introduced · 117th Congress
  • HR 5197 Managed Stablecoins are Securities Act of 2019 Amends its part · introduced · 116th Congress
  • HR 4476 Financial Transparency Act of 2019 Amends its part · introduced · 116th Congress
  • HR 4492 Consumer Financial Choice and Capital Markets Protection Act of 2019 Amends its part · introduced · 116th Congress
  • HR 3848 Stop Wall Street Looting Act Amends its part · introduced · 116th Congress
  • S 2155 Stop Wall Street Looting Act Amends its part · introduced · 116th Congress
  • S 733 Consumer Financial Choice and Capital Markets Protection Act of 2019 Amends its part · introduced · 116th Congress
  • HR 2319 Consumer Financial Choice and Capital Markets Protection Act of 2018 Amends its part · introduced · 115th Congress
  • S 1117 Consumer Financial Choice and Capital Markets Protection Act of 2017 Amends its part · introduced · 115th Congress
  • HR 4267 Small Business Credit Availability Act Amends its part · introduced · 115th Congress
  • HR 1625 Consolidated Appropriations Act, 2018 Amends its part · enacted · 115th Congress
  • HR 3978 TRID Improvement Act of 2017 Amends · introduced · 115th Congress
  • HR 3948 Protection of Source Code Act Amends · introduced · 115th Congress
  • S 2324 Small Business Credit Availability Act Amends its part · introduced · 115th Congress
  • HR 10 Financial CHOICE Act of 2017 Amends · introduced · 115th Congress
  • S 1031 Crowdfunding Enhancement Act Amends its part · introduced · 115th Congress
  • HR 1530 Financial Transparency Act of 2017 Amends its part · introduced · 115th Congress

The law today

From the official United States Code, current through Public Law 119-124.

(a) Maintenance of records (1) In general Each registered investment company, and each underwriter, broker, dealer, or investment adviser that is a majority-owned subsidiary of such a company, shall maintain and preserve such records (as defined in section 78c(a)(37) of this title) for such period or periods as the Commission, by rules and regulations, may prescribe as necessary or appropriate in the public interest or for the protection of investors. Each investment adviser that is not a majority-owned subsidiary of, and each depositor of any registered investment company, and each principal underwriter for any registered investment company other than a closed-end company, shall maintain and preserve for such period or periods as the Commission shall prescribe by rules and regulations, such records as are necessary or appropriate to record such person’s transactions with such registered company. Each person having custody or use of the securities, deposits, or credits of a registered investment company shall maintain and preserve all records that relate to the custody or use by such person of the securities, deposits, or credits of the registered investment company for such period or periods as the Commission, by rule or regulation, may prescribe, as necessary or appropriate in the public interest or for the protection of investors. (2) Minimizing compliance burden In exercising its authority under this subsection, the Commission shall take such steps as it deems necessary or appropriate, consistent with the public interest and for the protection of investors, to avoid unnecessary recordkeeping by, and minimize the compliance burden on, persons required to maintain records under this subsection (hereafter in this section referred to as “subject persons”). Such steps shall include considering, and requesting public comment on— (A) feasible alternatives that minimize the recordkeeping burdens on subject persons; (B) the necessity of such records in view of the public benefits derived from the independent scrutiny of such records through Commission examination; (C) the costs associated with maintaining the information that would be required to be reflected in such records; and (D) the effects that a proposed recordkeeping requirement would have on internal compliance policies and procedures. (b) Examinations of records (1) In general All records required to be maintained and preserved in accordance with subsection (a) shall be subject at any time and from time to time to such reasonable periodic, special, and other examinations by the Commission, or any member or representative thereof, as the Commission may prescribe. (2) Availability For purposes of examinations referred to in paragraph (1), any subject person shall make available to the Commission or its representatives any copies or extracts from such records as may be prepared without undue effort, expense, or delay as the Commission or its representatives may reasonably request. (3) Commission action The Commission shall exercise its authority under this subsection with due regard for the benefits of internal compliance policies and procedures and the effective implementation and operation thereof. (4) Records of persons with custody or use (A) In general Records of persons having custody or use of the securities, deposits, or credits of a registered investment company that relate to such custody or use, are subject at any time, or from time to time, to such reasonable periodic, special, or other examinations and other information and document requests by representatives of the Commission, as the Commission deems necessary or appropriate in the public interest or for the protection of investors. (B) Certain persons subject to other regulation Any person that is subject to regulation and examination by a Federal financial institution regulatory agency (as such term is defined under section 212(c)(2) of title 18) may satisfy any examination request, information request, or document request described under subparagraph (A), by providing to the Commission a detailed listing, in writing, of the securities, deposits, or credits of the registered investment company within the custody or use of such person. (c) Regulatory authority The Commission may, in the public interest or for the protection of investors, issue rules and regulations providing for a reasonable degree of uniformity in the accounting policies and principles to be followed by registered investment companies in maintaining their accounting records and in preparing financial statements required pursuant to this subchapter. (d) Exemption authority The Commission, upon application made by any registered investment company, may by order exempt a specific transaction or transactions from the provisions of any rule or regulation made pursuant to subsection (e), if the Commission finds that such rule or regulation should not reasonably be applied to such transaction.
Official text at uscode.house.gov ↗