H. Rept. 115-549 1 (2018-02-08)

handle is hein.congrecreports/crptxabaa0001 and id is 1 raw text is: AUTHENTICATEO
U.S. GOVERNMENT
INFORMATION
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                   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
                      79-006

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