Laws: Cases and Codes : U.S. Code : Title 15 : Section 78i
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U.S. Code as of:
01/19/04
Section 78i - Notes
SOURCE
(June 6, 1934, ch. 404, title I, Sec. 9, 48 Stat. 889; Pub. L.
97-303, Sec. 3, Oct. 13, 1982, 96 Stat. 1409; Pub. L. 101-432, Sec.
6(a), Oct. 16, 1990, 104 Stat. 975; Pub. L. 106-554, Sec. 1(a)(5)
[title II, Sec. 205(a)(1), (2), title III, Sec. 303(b), (c)], Dec.
21, 2000, 114 Stat. 2763, 2763A-425, 2763A-426, 2763A-453,
2763A-454.)
REFERENCES IN TEXT
Section 206B of the Gramm-Leach-Bliley Act, referred to in
subsecs. (a)(2) to (5) and (i), is section 206B of Pub. L. 106-102,
which is set out in a note under section 78c of this title.
The Commodity Exchange Act, referred to in subsec. (g)(2), is act
Sept. 21, 1922, ch. 369, 42 Stat. 998, as amended, which is
classified generally to chapter 1 (Sec. 1 et seq.) of Title 7,
Agriculture. For complete classification of this Act to the Code,
see section 1 of Title 7 and Tables.
AMENDMENTS
2000 - Subsec. (a)(2) to (5). Pub. L. 106-554, Sec. 1(a)(5)
[title III, Sec. 303(b)], amended pars. (2) to (5) generally. Prior
to amendment, pars. (2) to (5) read as follows:
"(2) To effect, alone or with one or more other persons, a series
of transactions in any security registered on a national securities
exchange creating actual or apparent active trading in such
security or raising or depressing the price of such security, for
the purpose of inducing the purchase or sale of such security by
others.
"(3) If a dealer or broker, or other person selling or offering
for sale or purchasing or offering to purchase the security, to
induce the purchase or sale of any security registered on a
national securities exchange by the circulation or dissemination in
the ordinary course of business of information to the effect that
the price of any such security will or is likely to rise or fall
because of market operations of any one or more persons conducted
for the purpose of raising or depressing the prices of such
security.
"(4) If a dealer or broker, or other person selling or offering
for sale or purchasing or offering to purchase the security, to
make, regarding any security registered on a national securities
exchange, for the purpose of inducing the purchase or sale of such
security, any statement which was at the time and in the light of
the circumstances under which it was made, false or misleading with
respect to any material fact, and which he knew or had reasonable
ground to believe was so false or misleading.
"(5) For a consideration, received directly or indirectly from a
dealer or broker, or other person selling or offering for sale or
purchasing or offering to purchase the security, to induce the
purchase or sale of any security registered on a national
securities exchange by the circulation or dissemination of
information to the effect that the price of any such security will
or is likely to rise or fall because of the market operations of
any one or more persons conducted for the purpose of raising or
depressing the price of such security."
Subsec. (b)(1). Pub. L. 106-554, Sec. 1(a)(5) [title II, Sec.
205(a)(1)(A)], inserted "(A)" after "acquires" and substituted ";
or (B) any security futures product on the security; or" for ";
or".
Subsec. (b)(2). Pub. L. 106-554, Sec. 1(a)(5) [title II, Sec.
205(a)(1)(B)], inserted "(A)" after "interest in any" and
substituted "; or (B) such security futures product; or" for ";
or".
Subsec. (b)(3). Pub. L. 106-554, Sec. 1(a)(5) [title II, Sec.
205(a)(1)(C)], inserted "(A)" after "interest in any" and "; or (B)
such security futures product" after "privilege".
Subsec. (g). Pub. L. 106-554, Sec. 1(a)(5) [title II, Sec.
205(a)(2)], designated existing provisions as par. (1), inserted
"other than a security futures product" after "future delivery",
and added par. (2).
Subsec. (i). Pub. L. 106-554, Sec. 1(a)(5) [title III, Sec.
303(c)], added subsec. (i).
1990 - Subsec. (h). Pub. L. 101-432 added subsec. (h).
1982 - Subsec. (f). Pub. L. 97-303, Sec. 3(1), substituted "The
provisions of subsection (a) of this section shall not apply" for
"The provisions of this section shall not apply".
Subsec. (g). Pub. L. 97-303, Sec. 3(2), added subsec. (g).
TRANSFER OF FUNCTIONS
For transfer of functions of Securities and Exchange Commission,
with certain exceptions, to Chairman of such Commission, see Reorg.
Plan No. 10 of 1950, Secs. 1, 2, eff. May 24, 1950, 15 F.R. 3175,
64 Stat. 1265, set out under section 78d of this title.
SECTION REFERRED TO IN OTHER SECTIONS
This section is referred to in sections 78j, 78y, 78hh of this
title.
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