CITE

    15 USC Sec. 80a-37                                          01/05/2009

EXPCITE

    TITLE 15 - COMMERCE AND TRADE
    CHAPTER 2D - INVESTMENT COMPANIES AND ADVISERS
    SUBCHAPTER I - INVESTMENT COMPANIES

HEAD

    Sec. 80a-37. Rules, regulations, and orders

STATUTE

    (a) Powers of Commission
      The Commission shall have authority from time to time to make,
    issue, amend, and rescind such rules and regulations and such
    orders as are necessary or appropriate to the exercise of the
    powers conferred upon the Commission elsewhere in this subchapter,
    including rules and regulations defining accounting, technical, and
    trade terms used in this subchapter, and prescribing the form or
    forms in which information required in registration statements,
    applications, and reports to the Commission shall be set forth. For
    the purposes of its rules or regulations the Commission may
    classify persons, securities, and other matters within its
    jurisdiction and prescribe different requirements for different
    classes of persons, securities, or matters.
    (b) Filing of information and documents
      The Commission, by such rules and regulations or order as it
    deems necessary or appropriate in the public interest or for the
    protection of investors, may authorize the filing of any
    information or documents required to be filed with the Commission
    under this subchapter, subchapter II of this chapter, the
    Securities Act of 1933 [15 U.S.C. 77a et seq.], the Securities
    Exchange Act of 1934 [15 U.S.C. 78a et seq.], the Public Utility
    Holding Company Act of 1935,(!1) or the Trust Indenture Act of 1939
    [15 U.S.C. 77aaa et seq.], by incorporating by reference any
    information or documents theretofore or concurrently filed with the
    Commission under this subchapter or any of such Acts.
    (c) Good faith conformance with rules, regulations, and orders
      No provision of this subchapter imposing any liability shall
    apply to any act done or omitted in good faith in conformity with
    any rule, regulation, or order of the Commission, notwithstanding
    that such rule, regulation, or order may, after such act or
    omission, by amended or rescinded or be determined by judicial or
    other authority to be invalid for any reason.

SOURCE

    (Aug. 22, 1940, ch. 686, title I, Sec. 38, 54 Stat. 841.)

REFERENCES IN TEXT

      The Securities Act of 1933, referred to in subsec. (b), is act
    May 27, 1933, ch. 38, title I, 48 Stat. 74, as amended, which is
    classified generally to subchapter I (Sec. 77a et seq.) of chapter
    2A of this title. For complete classification of this Act to the
    Code, see section 77a of this title and Tables.
      The Securities Exchange Act of 1934, referred to in subsec. (b),
    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.
      The Public Utility Holding Company Act of 1935, referred to in
    subsec. (b), is title I of act Aug. 26, 1935, ch. 687, 49 Stat.
    803, as amended, which was classified generally to chapter 2C (Sec.
    79 et seq.) of this title, prior to repeal by Pub. L. 109-58, title
    XII, Sec. 1263, Aug. 8, 2005, 119 Stat. 974. For complete
    classification of this Act to the Code, see Tables.
      The Trust Indenture Act of 1939, referred to in subsec. (b), is
    title III of act May 27, 1933, ch. 38, as added Aug. 3, 1939, ch.
    411, 53 Stat. 1149, as amended, which is classified generally to
    subchapter III (Sec. 77aaa et seq.) of chapter 2A of this title.
    For complete classification of this Act to the Code, see section
    77aaa of this title and Tables.

TRANSFER OF FUNCTIONS

      For transfer of functions of Securities and Exchange Commission,
    with certain exceptions, to Chairman of such Commission, see Reorg.
    Plan No. 10 of 1950, Secs. 1, 2, eff. May 24, 1950, 15 F.R. 3175,
    64 Stat. 1265, set out under section 78d of this title.

FOOTNOTE

    (!1) See References in Text note below.