(Pub. L. 111–203, title IX, § 939F,July 21, 2010, 124 Stat. 1889.)
References in Text
941, referred to in subsec. (a), means section 941 ofPub. L. 111–203
Section 15E of the Securities Exchange Act of 1934, referred to in subsec. (d)(1), is classified to section
of this title.
, referred to in subsec. (d)(1), became Pub. L. 111–203
. As enacted, section 939D ofPub. L. 111–203
did not add a subsec. (w) tosection 15E of the Securities Exchange Act of 1934 (15
) but enacted provisions set out as a note below. For the provisions of section 15E(w) of the Securities Exchange Act of 1934, as that provision would have been added by 939D
of H.R. 4173
(111th Congress), as passed by the Senate on May 20, 2010, see 156 Cong. Rec. 80 at pp. S4338, S4339 (daily ed. May 25, 2010).
Section was enacted as part of the Investor Protection and Securities Reform Act of 2010 and also as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and not as part of the Securities Exchange Act of 1934 which comprises this chapter.
Section effective 1 day after July 21, 2010, except as otherwise provided, see section 4 ofPub. L. 111–203
, set out as a note under section
, Banks and Banking.
Government Accountability Office Study on Alternative Business Models
Pub. L. 111–203
, title IX, § 939D,July 21, 2010, 124 Stat. 1888
, provided that:
“(a) Study.—The Comptroller General of the United States shall conduct a study on alternative means for compensating nationally recognized statistical rating organizations in order to create incentives for nationally recognized statistical rating organizations to provide more accurate credit ratings, including any statutory changes that would be required to facilitate the use of an alternative means of compensation.
“(b) Report.—Not later than 18 months after the date of enactment of this Act [July 21, 2010], the Comptroller General shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report on the results of the study conducted under subsection (a), including recommendations, if any, for providing incentives to credit rating agencies to improve the credit rating process.”
[For definition of “nationally recognized statistical rating organization” as used in section 939D ofPub. L. 111–203
, set out above, see section
, Banks and Banking.]
For definitions of terms used in this section, see section
, Banks and Banking.