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



1375 



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



,1 • T . ■ ii 1 j_ 1. ji ' ,. f an historic Site. 



authonzecl to ac(iuire the above property lor the purpose of estab- 

 lishing same as an historic site or otherw'ise presei'\'ing tlie buildings 

 and grounds in connection therewith : Provided^ That the Secretary f'a™''-,^^ customs 

 of the Treasury may retain sufficient space in the building for the Bur^eau^. " "^ °™^ 

 necessary operation of the Bureau of Customs. 

 Approved, May 26, 1936. 



[CHAPTER 462.] 



AN ACT 



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

 securities excliangcs, 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 Representatives of the 

 United States of Amei'ica in Congress assembled, That subsection (f ) 

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

 read as follows: 



'•(f) Notwithstanding the foregoing provisions of this section, any 

 national securities exchange, upon application to and approval of 

 such application by the Commission and subject to the terms and 

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

 privileges to which a security had been admitted on such exchange 

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

 to any security duly listed and registered on any other national 

 securities exchange, but such unlisted trading privileges shall con- 

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

 registei'ed on any other national securities exchange; or (3) may 

 extend unli.sted 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 regulations prescribed by the 

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

 information substantially equivalent to that available pursuant 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 

 reports 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 unlLsted 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 necessary 

 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 (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. 

 |.S. 4Q23.] 



[Public, No. 621.] 



Securities Exchange 

 .\ct 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. 



