,,ii  #aai? ,,congress  #a/ ,session    
,s4 #cdje  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,decemb] #i1 #bjbe,mr4 
,mc,cormick 7= himself & ,mr4 ,fett]man7
 introduc$ ! foll[+ bill2 :i* 0 read    
twice & ref]r$ to ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to require ! ,securities &     
,ex*ange ,commission to conduct a /udy  
reg>d+ c]ta9 brok]s & deal]s t are      
controll$ by or organiz$ "u ! laws ( !  
,p's ,republic ( ,*9a1 & = o!r purposes4
  #a4 ,%ort title ,?is ,act may be cit$ 
z ! ,,prc ,f9ancial ,int]m$i>y ,review  
,act4  #b4 ,/udy & report ,n lat] ?an #a
 ye> aft] ! date ( ! enactm5t ( ?is     
,act1 ! ,securities & ,ex*ange          
,commission %all-- 7#a7 conduct a /udy  
on ! transp>5cy (1 & coop]ation reg>d+--
 7,a7 brok]s & deal]s t are-- 7i7 memb]s
 ( a national securities association &  
regi/]$ ) ! ,securities & ,ex*ange      
,commission2 &  7ii7 controll$ by or    
organiz$ "u ! laws ( ! ,p's ,republic ( 
,*9a2 &  7,b7 inve/m5t advis]s t are    

regi/]$ ) ! ,securities & ,ex*ange      
,commission & controll$ by or organiz$  
"u ! laws ( ! ,p's ,republic ( ,*9a2 &  
7#b7 submit to ,congress a report t     
includes ! results ( ! /udy conduct$ "u 
p>agraph 7#a74