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12 U.S.C. § 3422 — Applicability to Securities and Exchange Commission
Federal law — U.S. Code and appendices · legal_authorities
Except as provided in the Securities Exchange Act of 1934 [[15 U.S.C. 78a](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78a&num=0&edition=prelim) et seq.], this chapter shall apply with respect to the Securities and Exchange Commission.
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Source file: Laws/federal/codes/united-states-code/title-12/section-3422-applicability-to-securities-and-exchange-commission--59735947d0.md
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Source location: Title 12, Chapter 35, § 3422; chapter-035-right-to-financial-privacy.md
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Except as provided in the Securities Exchange Act of 1934 [[15 U.S.C. 78a](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78a&num=0&edition=prelim) et seq.], this chapter shall apply with respect to the Securities and Exchange Commission.
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Federal law — U.S. Code and appendices · legal_authorities
This chapter may be cited as the “Securities Exchange Act of 1934.”
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 78a
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Federal law — U.S. Code and appendices · legal_authorities
(1) **In general** — No member bank may extend credit to any of its executive officers, directors, or principal shareholders, or to any related interest of such a person, except to the extent permitted under paragraphs (2), (3), (4), (5), and (6).
(2) **Preferential terms prohibited**
(A) *In general* — A member bank may extend credit to its executive officers, directors, or principal shareholders, or to any related interest of such a person, only if the extension of credit—
(i) is made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions by the bank with persons who are not executive officers, directors, principal shareholders, or employees of the bank;
(ii) does not involve more than the normal risk of repayment or present other unfavorable features; and
(iii) the bank follows credit underwriting procedures that are not less stringent than those applicable to comparable transactions by the bank with persons who are not executive officers, directors, principal shareholders, or employees of the bank.
(B) *Exception* — Nothing in this paragraph shall prohibit any extension of credit made pursuant to a benefit or compensation program—
(i) that is widely available to employees of the member bank; and
(ii) that does not give preference to any officer, director, or principal shareholder of the member bank, or to any related interest of such person, over other employees of the member bank.
(3) **Prior approval required** — A member bank may extend credit to a person described in paragraph (1) in an amount that, when aggregated with the amount of all other outstanding extensions of credit by that bank to each such person and that person’s related interests, would e
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authority and discretion of Commission to investigate violations**
(1) The Commission may, in its discretion, make such investigations as it deems necessary to determine whether any person has violated, is violating, or is about to violate any provision of this chapter, the rules or regulations thereunder, the rules of a national securities exchange or registered securities association of which such person is a member or a person associated, or, as to any act or practice, or omission to act, while associated with a member, formerly associated with a member, the rules of a registered clearing agency in which such person is a participant, or, as to any act or practice, or omission to act, while a participant, was a participant, the rules of the Public Company Accounting Oversight Board, of which such person is a registered public accounting firm, a person associated with such a firm, or, as to any act, practice, or omission to act, while associated with such firm, a person formerly associated with such a firm, or the rules of the Municipal Securities Rulemaking Board, and may require or permit any person to file with it a statement in writing, under oath or otherwise as the Commission shall determine, as to all the facts and circumstances concerning the matter to be investigated. The Commission is authorized in its discretion, to publish information concerning any such violations, and to investigate any facts, conditions, practices, or matters which it may deem necessary or proper to aid in the enforcement of such provisions, in the prescribing of rules and regulations under this chapter, or in securing information to serve as a basis for recommending further legislation concerning the matters to which this chapter relates.
(2) On request from a foreign securities
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 78u
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Federal law — U.S. Code and appendices · legal_authorities
Page 1551
TITLE 12—BANKS AND BANKING
§ 3422
1 So in original.
§ 3420. Grand jury information; notification of
certain persons prohibited
(a) Financial records about a customer ob-
tained from a financial institution pursuant to a
subpena issued under the authority of a Federal
grand jury—
(1) shall be returned and actually presented
to the grand jury unless the volume of such
records makes such return and actual presen-
tation impractical in which case the grand
jury shall be provided with a description of the
contents of the records.; 1
(2) shall be used only for the purpose of con-
sidering whether to issue an indictment or
presentment by that grand jury, or of pros-
ecuting a crime for which that indictment or
presentment is issued, or for a purpose author-
ized by rule 6(e) of the Federal Rules of Crimi-
nal Procedure, or for a purpose authorized by
section 3412(a) of this title;
(3) shall be destroyed or returned to the fi-
nancial institution if not used for one of the
purposes specified in paragraph (2); and
(4) shall not be maintained, or a description
of the contents of such records shall not be
maintained by any Government authority
other than in the sealed records of the grand
jury, unless such record has been used in the
prosecution of a crime for which the grand
jury issued an indictment or presentment or
for a purpose authorized by rule 6(e) of the
Federal Rules of Criminal Procedure.
(b)(1) No officer, director, partner, employee,
or shareholder of, or agent or attorney for, a fi-
nancial institution shall, directly or indirectly,
notify any person named in a grand jury sub-
poena served on such institution in connection
with an investigation relating to a possible—
(A) crime against any financial institution
or supervisory age
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 3422
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Federal law — U.S. Code and appendices · legal_authorities
Page 202
TITLE 15—COMMERCE AND TRADE
§ 78a
Sec.
78m.
Periodical and other reports.
78m–1.
Reporting and recordkeeping for certain secu-
rity-based swaps.
78m–2.
Reporting requirements regarding coal or
other mine safety.
78n.
Proxies.
78n–1.
Shareholder approval of executive compensa-
tion.
78n–2.
Corporate governance.
78o.
Registration and regulation of brokers and
dealers.
78o–1.
Brokers deemed to be registered.
78o–2.
Liabilities arising prior to amendment unaf-
fected.
78o–3.
Registered securities associations.
78o–4.
Municipal securities.
78o–4a.
Commission Office of Municipal Securities.
78o–5.
Government securities brokers and dealers.
78o–6.
Securities analysts and research reports.
78o–7.
Registration of nationally recognized statis-
tical rating organizations.
78o–8.
Universal ratings symbols.
78o–9.
Study and rulemaking on assigned credit rat-
ings.
78o–10.
Registration and regulation of security-based
swap dealers and major security-based swap
participants.
78o–11.
Credit risk retention.
78p.
Directors,
officers,
and
principal
stock-
holders.
78q.
Records and reports.
78q–1.
National system for clearance and settlement
of securities transactions.
78q–2.
Automated quotation systems for penny
stocks.
78r.
Liability for misleading statements.
78s.
Registration, responsibilities, and oversight
of self-regulatory organizations.
78t.
Liability of controlling persons and persons
who aid and abet violations.
78t–1.
Liability to contemporaneous traders for in-
sider trading.
78u.
Investigations and actions.
78u–1.
Civil penalties for insider trading.
78u–2.
Civil remedies in administrative proceedings.
78u–3.
Cease-and-desist proceedings.
78u–4.
Private securities litigation.
78u–5.
Applic
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 78a
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