CITE
15 USC Sec. 80b-4a 01/05/2009
EXPCITE
TITLE 15 - COMMERCE AND TRADE
CHAPTER 2D - INVESTMENT COMPANIES AND ADVISERS
SUBCHAPTER II - INVESTMENT ADVISERS
HEAD
Sec. 80b-4a. Prevention of misuse of nonpublic information
STATUTE
Every investment adviser subject to section 80b-4 of this title
shall establish, maintain, and enforce written policies and
procedures reasonably designed, taking into consideration the
nature of such investment adviser's business, to prevent the misuse
in violation of this chapter or the Securities Exchange Act of 1934
[15 U.S.C. 78a et seq.], or the rules or regulations thereunder, of
material, nonpublic information by such investment adviser or any
person associated with such investment adviser. The Commission, as
it deems necessary or appropriate in the public interest or for the
protection of investors, shall adopt rules or regulations to
require specific policies or procedures reasonably designed to
prevent misuse in violation of this chapter or the Securities
Exchange Act of 1934 (or the rules or regulations thereunder) of
material, nonpublic information.
SOURCE
(Aug. 22, 1940, ch. 686, title II, Sec. 204A, as added Pub. L. 100-
704, Sec. 3(b)(2), Nov. 19, 1988, 102 Stat. 4680.)
REFERENCES IN TEXT
The Securities Exchange Act of 1934, referred to in text, is act
June 6, 1934, ch. 404, 48 Stat. 881, as amended, which is
classified generally to chapter 2B (Sec. 78a et seq.) of this
title. For complete classification of this Act to the Code, see
section 78a of this title and Tables.
EFFECTIVE DATE
Section not applicable to actions occurring before Nov. 19, 1988,
see section 9 of Pub. L. 100-704 set out as an Effective Date of
1988 Amendment note under section 78o of this title.