§ 80b-4a. — Prevention of misuse of nonpublic information.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC80b-4a]
TITLE 15--COMMERCE AND TRADE
CHAPTER 2D--INVESTMENT COMPANIES AND ADVISERS
SUBCHAPTER II--INVESTMENT ADVISERS
Sec. 80b-4a. Prevention of misuse of nonpublic information
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.
(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.
Section Referred to in Other Sections
This section is referred to in section 78u-1 of this title.
