S 1699 IS
102d CONGRESS
1st Session
S. 1699
To prevent false and misleading statements in connection with offerings of
government securities.
IN THE SENATE OF THE UNITED STATES
September 10, 1991
Mr. DODD (for himself, Mr. RIEGLE, Mr. GARN, Mr. D'AMATO, Mr. DIXON,
Mr. SASSER, Mr. WIRTH, Mr. SHELBY, Mr. BOND, Mr. BRYAN, and Mrs. KASSEBAUM)
introduced the following bill; which was read twice and referred to the
Committee on Banking, Housing, and Urban Affairs
A BILL
To prevent false and misleading statements in connection with offerings of
government securities.
  Be it enacted by the Senate and House of Representatives of the United
  States of America in Congress assembled,
SECTION 1. SHORT TITLE.
  This Act may be cited as the `Government Securities Offering Enforcement
  Act of 1991'.
SEC. 2. OFFERINGS OF GOVERNMENT SECURITIES.
  Section 15 of the Securities Exchange Act of 1934 (15 U.S.C. 78o) is
  amended by inserting after paragraph (6) of subsection (c) the following
  new paragraph:
  `(7) In connection with any bid for or purchase of a government security
  related to an offering of government securities by or on behalf of an
  issuer, no government securities broker, government securities dealer,
  or bidder for or purchaser of securities in such offering shall knowingly
  or willfully make any false or misleading written statement or omit any
  fact necessary to make any written statement made not misleading.'.