,,ii  #aacth ,,congress  #b;d ,session  
,s4 #bhfh  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,september #ah1
 #bjad,mr4 ,reed 7for himself1 ,mr4     
,levin1 ,mr4 ,markey1 ,mrs4 ,shaheen1   
and ,ms4 ,warren7 introduced the        
following bill2 which was read twice and
 referred to the ,committee on ,banking1
 ,housing1 and ,urban ,affairs  ,a      
,,bill  ,to establish a statute of      
limitations for certain actions of the  
,securities and ,exchange ,commission1  
and for other purposes4  #a4 ,statute of
 limitations for ,commission actions    
7a7 ,in general ,section #ba of the     
,securities ,exchange ,act of #aicd 7#ae
 ,u4,s4,c4 #ghu7 is amended by adding at
 the end the following3  7j7 ,statute of
 limitations  7#a7 ,civil monetary      
penalties  7,a7 ,in general ,an action  
or proceeding brought or instituted by  
the ,commission under any provision of  
the securities laws for a civil monetary
 penalty may be brought not later than  
#aj years after the violation4  7,b7    

,exclusion ,the period of limitations in
 subparagraph 7,a7 does not run during  
any time when an alleged violator is    
absent from the ,united ,states or has  
no reasonably ascertainable place of    
abode or work within the ,united        
,states4  7#b7 ,definition ,for purposes
 of this subsection1 the term civil     
monetary penalty means relief sought by 
the ,commission under-- 7,a7 section    
#bj7;d7 of the ,securities ,act of #aicc
 7#ae ,u4,s4,c4 #ggt7d772  7,b7 section 
#ba7;d77#c71 #ba;,a7a71 subsections 7a7 
through 7d7 of section #ba;,b1 section  
#cb7;b71 #cb7;c77#a77;,b71 or           
#cb7;c77#b77;,b7 of this title 7#ae     
,u4,s4,c4 #ghu7d77#c71 #ae ,u4,s4,c4    
#ghu-#a7;a71 #ae ,u4,s4,c4              
#ghu-#b7;a7-7d71 #ae ,u4,s4,c4          
#gh;ff7b71 #ae ,u4,s4,c4                
#gh;ff7c77#a77;,b71 #ae ,u4,s4,c4       
#gh;ff7c77#b77;,b772  7,c7 section      
#i7;d7 or #db7;e7 of the ,investment    
,company ,act of #aidj 7#ae ,u4,s4,c4   
#hj;a-#i7;d71 #ae ,u4,s4,c4             

#hj;a-#da7;e772 or  7,d7 section        
#bjc7;i7 or #bji7;e7 of the ,investment 
,advisers ,act of #aidj 7#ae ,u4,s4,c4  
#hj;b-#c7;i71 #ae ,u4,s4,c4             
#hj;b-#i7;e774  4  7b7 ,conforming      
amendment ,section #ba;,a7d7 of the     
,securities ,act of #aicd 7#ae ,u4,s4,c4
 #ghu-#a7;d77 is amended by striking    
paragraph 7#e74