PlainBillCongress, translated.Legislation. Context. Public interest.Became Public Law No: 111-257.
Congressional Research Service
Version 80 · Reported to Senate without amendment · Aug 5, 2010
(This measure has not been amended since it was introduced. The summary of that version is repeated here.)
Amends the Securities Exchange Act of 1934 to repeal the prohibition of the Dodd-Frank Wall Street Reform and Consumer Protection Act against compelling the Securities and Exchange Commission (SEC) to disclose records or information obtained from registered persons pursuant to its regulatory or oversight activities.
Declares that for purposes of the Freedom of Information Act (FOIA): (1) the SEC is an agency responsible for the regulation or supervision of financial institutions; and (2) any entity for which the SEC is the responsible regulator, supervisor, or examiner under such Act is a financial institution. (Thus retains the general exemption from FOIA of matters contained in or related to examination, operating, or condition reports prepared by, on behalf of, or for the use of the SEC and any other agency responsible for the regulation or supervision of financial institutions.)
Showing the opening paragraphs of the official summary.
Amends the Investment Company Act and the Investment Advisers Act to repeal similar prohibitions against compelling the SEC to disclose records or information provided to it by a registered investment company or investment adviser, or an underwriter, broker, dealer, or investment adviser that is a majority-owned subsidiary of such a company, for SEC use in furtherance of certain purposes, including surveillance, risk assessments, or other regulatory and oversight activities.
People & committees
Sen. Leahy, Patrick J. [D-VT] · D–VT
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Became Public Law No: 111-257.
Became Public Law No: 111-257.
Signed by President.
Signed by President.
Presented to President.
Presented to President.
Cleared for White House.
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H6952)
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H6952)
DEBATE - The House proceeded with forty minutes of debate on S. 3717.
Considered under suspension of the rules. (consideration: CR H6952-6955)
Mr. Frank (MA) moved to suspend the rules and pass the bill.
Held at the desk.
Received in the House.
Message on Senate action sent to the House.
Passed Senate without amendment by Unanimous Consent. (consideration: CR S7298-7299; text as passed Senate: CR S7299)
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(consideration: CR S7298-7299; text as passed Senate: CR S7299)
Placed on Senate Legislative Calendar under General Orders. Calendar No. 567.
Committee on the Judiciary. Reported by Senator Leahy without amendment. Without written report.
Committee on the Judiciary. Reported by Senator Leahy without amendment. Without written report.
Committee on the Judiciary. Ordered to be reported without amendment favorably.
Read twice and referred to the Committee on the Judiciary. (text of measure as introduced: CR S6889)
Sponsor introductory remarks on measure. (CR S6889, S6889-6890)
Introduced in Senate
Primary sources
Text links open the official source. We currently store references to these documents.
Source last updated: Aug 10, 2026. Consult Congress.gov for the current record.
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Analyze S.3717 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine S.3717 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine S.3717 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine S.3717 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.