74th CONGRESS. SESS. II.. CHS. 454,462. MAY 26, 27, 1936. 



1375 



Sec. 2. Tliat the Secretary of the Interior be, and he is hereby. Preservation ot, as 



.., ■ ii \ fi c ..'-an nistonc site. 



authorized to acquire the above property lor the purpose ot estab- 

 lishing same as an historic site or otlierwise presei-ving the buildings 

 and grounds in connection therewith : Provided, That the Secretary f''!'"™-,^ n , ,„. 

 ot the treasury may retain suthcient space in tiie building tor the Bureau. 

 necessary operation of the Bureau of Customs. 

 Approved, May 26, 1936. 



ICHAPTER 462.] 



AN ACT 



To provide for the continuation of trading in unlisted securities upon national 

 securities exclianges, for the registration of over-the-counter brokers and 

 dealers, for the filing of current information and periodic reports by issuers, 

 and for other purposes. 



Be it enacted hy the Senate and House of Re-presentatives of the 

 United States of America in Congress assemiled, That subsection (f ) 

 of section 12 of the Securities Exchange Act of 1934 is amended to 

 read as follows: 



'"(f) Notwithstanding the foregoing jjrovisions of this section, any 

 national securities exchange, upon application to and ajjproval of 

 such application by the Commission and subject to the terms and 

 conditions hereinafter set forth, (1) may continue unlisted trading 

 privileges to wliich a security had been admitted on such exchange 

 prior toJMarch 1,1934; or (2) may extend unlisted trading privileges 

 to any securitj^ duly listed and registered on anj^ other national 

 securities exchange, but such unlisted trading jirivileges shall con- 

 tinue in effect only so long as such security shall remain listed and 

 registered on any other national securities exchange; or (3) may 

 extend unlisted trading privileges to any security in respect of which 

 there is available from a registration statement and periodic reports 

 or other data filed pursuant to rules or i-egulations prescribed by the 

 Commission under this title or the Securities Act of 1933, as amended, 

 information substantially equivalent to that available jjursuant to 

 rules or regulations of the Commission in respect of a security duly 

 listed and registered on a national securities exchange, but such 

 unlisted trading privileges shall continue in effect only so long as 

 such a registration statement remains effective and such periodic 

 r'eports or other data continue to be so filed. 



"No application pursuant to this subsection shall be approved 

 unless the Commission finds that the continuation or extension of 

 unlisted trading privileges pursuant to such application is neces- 

 sary or appropriate in the public interest or for the protection of 

 investors. No application to extend unlisted trading privileges to 

 any security pursuant to clause (2) or (3) of this subsection shall 

 be approved except after appropriate notice and opportunity for 

 hearing. No application to extend unlisted trading privileges to any 

 security pursuant to clause (2) or (3) of this subsection shall be 

 approved unless the applicant exchange shall establish to the satis- 

 faction of the Commission that there exists in the vicinity of such 

 exchange sufficiently widespread public distribution of such security 

 and sufficient public trading activity therein to render the extension 

 of unlisted trading privileges on such exchange thereto necessaiy 

 or appropriate in the public interest or for the protection of 

 investors. No application to extend unlLsted trading privileges to 

 any security pursuant to clause (3) of this subsection shall be 

 approved except upon such terms and conditions as will subject the 

 issuer thereof, the officers and directors of such issuer, and every 

 beneficial owner of more than 10 per centum of such security to 



May 27, 1936. 



IS. 4023.1 



[PubUc, No. 621.] 



Securities Exchange 

 Act of 1934, amend- 

 ments. 



Vol. 48, p. 894; U. S. 

 C, p. 536. 



Trading in unlisted 

 securities upon na- 

 tional exchanges. 



Continuance of cer- 

 tain categories. 



Security admitted 

 before March 1, 1934. 



Listed and registered 

 on another e-xchange. 



Equivalent registra- 

 tion statement avail- 

 able. 



Conditional contin- 

 uance of privileges. 



Notice and hearing. 



Establishment to be 

 in public interest. 



Obligations imposed . 



