H. Rept. 115-886 1 (2018-08-03)

handle is hein.congrecreports/crptxabpy0001 and id is 1 raw text is: AUTHENTICATEO
U.S. GOVERNMENT
INFORMATION
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                     115TH CONGRESS                                            REPORT
                         2d Session     HOUSE OF REPRESENTATIVES               115-886







                       NATIONAL SENIOR INVESTOR INITIATIVE ACT OF 2018



                       AUGUST 3, 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

                                               [To accompany H.R. 6323]

                                [Including cost estimate of the Congressional Budget Office]

                       The Committee on Financial Services, to whom was referred the
                     bill (H.R. 6323) to create an interdivisional taskforce at the Securi-
                     ties and Exchange Commission for senior investors, having consid-
                     ered the same, report favorably thereon with an amendment and
                     recommend that the bill as amended do pass.
                       The amendment is as follows:
                       Strike all after the enacting clause and insert the following:

                     SECTION 1. SHORT TITLE.
                       This Act may be cited as the National Senior Investor Initiative Act of 2018 or
                     the Senior Security Act of 2018.
                     SEC. 2. SENIOR INVESTOR TASKFORCE.
                       Section 4 of the Securities Exchange Act of 1934 (15 U.S.C. 78d) is amended by
                     adding at the end the following:
                       (k) SENIOR INVESTOR TASKFORCE.-
                           (1) ESTABLISHMENT.-There is established within the Commission the Senior
                         Investor Taskforce (in this subsection referred to as the 'Taskforce').
                           (2) DIRECTOR OF THE TASKFORCE.-The head of the Taskforce shall be the Di-
                         rector, who shall-
                              (A) report directly to the Chairman; and
                              (B) be appointed by the Chairman, in consultation with the Commission,
                            from among individuals-
                                  (i) currently employed by the Commission or from outside of the
                                Commission; and
                                  (ii) having experience in advocating for the interests of senior inves-
                                tors.
                           (3) STAFFING.-The Chairman shall ensure that-
                              (A) the Taskforce is staffed sufficiently to carry out fully the require-
                            ments of this subsection; and

                         79-006

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