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![handle is hein.congrecreports/crptxabaa0001 and id is 1 raw text is: AUTHENTICATEO
U.S. GOVERNMENT
INFORMATION
Gp
115TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 115-549
PROTECTION OF SOURCE CODE ACT
FEBRUARY 8, 2018.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. HENSARLING, from the Committee on Financial Services,
submitted the following
REPORT
together with
MINORITY VIEWS
[To accompany H.R. 3948]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 3948) to prohibit the Securities and Exchange Commis-
sion from compelling a person to produce or furnish algorithmic
trading source code or similar intellectual property to the Commis-
sion unless the Commission first issues a subpoena, and for other
purposes, having considered the same, reports favorably thereon
with amendments and recommends that the bill as amended do
pass.
The amendments (stated in terms of the page and line numbers
of the introduced bill) are as follows:
Page 2, line 11, strike or provides insight to.
Page 2, line 22, strike or provides insight to.
Page 3, line 6, strike or provides insight to.
Page 3, line 18, strike or provides insight to.
PURPOSE AND SUMMARY
On October 4, 2017, Representatives Sean Duffy and David Scott
introduced the Protection of Source Code Act, which amends the
Securities Act of 1933, the Securities Exchange Act of 1934, the In-
vestment Company Act of 1940, and the Investment Advisers Act
of 1940 to require the Securities and Exchange Commission (SEC)
to first issue a subpoena before it compels a person to produce or
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