,,ii  #aaeth ,,congress  #b;d ,session  
,s4 #cgcc  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,december #aj1 
#bjah,mr4 ,perdue introduced the        
following bill2 which was read twice and
 referred to the ,committee on ,banking1
 ,housing1 and ,urban ,affairs  ,a      
,,bill  ,to prohibit the ,securities and
 ,exchange ,commission from compelling a
 person to produce or furnish           
algorithmic trading source code or      
similar intellectual property to the    
,commission unless the ,commission first
 issues a subpoena1 and for other       
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,protection of      
,source ,code ,act4  #b4 ,procedure for 
obtaining certain intellectual property 
7a7 ,persons under ,securities ,act of  
#aicc ,section #h of the ,securities    
,act of #aicc 7#ae ,u4,s4,c4 #gg;h7 is  
amended by adding at the end the        
following3  7g7 ,procedure for obtaining
 certain intellectual property ,under   
this title1 the ,commission may not     

compel a person to produce or furnish   
source code1 including algorithmic      
trading source code or similar          
intellectual property that forms the    
basis for design of the source code1 to 
the ,commission unless the ,commission  
first issues a subpoena4  4  7b7        
,persons under the ,securities ,exchange
 ,act of #aicd ,section #bc of the      
,securities ,exchange ,act of #aicd 7#ae
 ,u4,s4,c4 #ghw7 is amended by adding at
 the end the following3  7e7 ,procedure 
for obtaining certain intellectual      
property ,under this title1 the         
,commission may not compel a person to  
produce or furnish source code1         
including algorithmic trading source    
code or similar intellectual property   
that forms the basis for design of the  
source code1 to the ,commission unless  
the ,commission first issues a subpoena4
  4  7c7 ,investment ,companies ,section
 #ca of the ,investment ,company ,act of
 #aidj 7#ae ,u4,s4,c4 #hj;a-#cj7 is     
amended by adding at the end the        

following3  7e7 ,procedure for obtaining
 certain intellectual property ,under   
this title1 the ,commission may not     
compel an investment company to produce 
or furnish source code1 including       
algorithmic trading source code or      
similar intellectual property that forms
 the basis for design of the source     
code1 to the ,commission unless the     
,commission first issues a subpoena4  4 
7d7 ,investment ,advisers ,section #bjd 
of the ,investment ,advisers ,act of    
#aidj 7#ae ,u4,s4,c4 #hj;b-#d7 is       
amended-- 7#a7 by redesignating the     
second subsection 7d7 7relating to      
records of persons with custody or use7 
as subsection 7e72 and  7#b7 by adding  
at the end the following3  7f7          
,procedure for obtaining certain        
intellectual property ,under this title1
 the ,commission may not compel an      
investment adviser to produce or furnish
 source code1 including algorithmic     
trading source code or similar          
intellectual property that forms the    

basis for design of the source code1 to 
the ,commission unless the ,commission  
first issues a subpoena4  4