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defined in section 3(q) of the Federal Deposit Insurance Act (12 U.S.C. 1813(q))), the National Credit Union Administration, or any other Federal department or agency having a responsi- bility under Federal law to prescribe rules or regulations restricting transactions involving the loan or borrowing of secu- rities in order to protect the safety and soundness of a financial institution or to protect the financial system from systemic risk.’’. (b) RULEMAKING REQUIRED.—Not later than 2 years after the Deadline. date of enactment of this Act, the Commission shall promulgate 15 USC 78j note. rules that are designed to increase the transparency of information available to brokers, dealers, and investors, with respect to the loan or borrowing of securities.

SEC. 985. TECHNICAL CORRECTIONS TO FEDERAL SECURITIES LAWS. (a) SECURITIES ACT OF 1933.—The Securities Act of 1933 (15 U.S.C. 77a et seq.) is amended— (1) in section 3(a)(4) (15 U.S.C. 77c(a)(4)), by striking ‘‘indi- vidual;’’ and inserting ‘‘individual,’’; (2) in section 18 (15 U.S.C. 77r)— (A) in subsection (b)(1)(C), by striking ‘‘is a security’’ and inserting ‘‘a security’’; and (B) in subsection (c)(2)(B)(i), by striking ‘‘State, or’’ and inserting ‘‘State or’’; (3) in section 19(d)(6)(A) (15 U.S.C. 77s(d)(6)(A)), by striking ‘‘in paragraph (1) of (3)’’ and inserting ‘‘in paragraph (1) or (3)’’; and (4) in section 27A(c)(1)(B)(ii) (15 U.S.C. 77z–2(c)(1)(B)(ii)), by striking ‘‘business entity;’’ and inserting ‘‘business entity,’’. (b) SECURITIES EXCHANGE ACT OF 1934.—The Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) is amended— (1) in section 2 (15 U.S.C. 78b), by striking ‘‘affected’’ and inserting ‘‘effected’’; (2) in section 3 (15 U.S.C. 78c)— (A) in subsection (a)(55)(A), by striking ‘‘section 3(a)(12) of the Securities Exchange Act of 1934’’ and inserting ‘‘sec- tion 3(a)(12) of this title’’; and (B) in subsection (g), by striking ‘‘company, account person, or entity’’ and inserting ‘‘company, account, person, or entity’’; (3) in section 10A(i)(1)(B) (15 U.S.C. 78j–1(i)(1)(B))— (A) in the subparagraph heading, by striking ‘‘MINIMUS’’ and inserting ‘‘MINIMIS’’; and (B) in clause (i), by striking ‘‘nonaudit’’ and inserting ‘‘non-audit’’; (4) in section 13(b)(1) (15 U.S.C. 78m(b)(1)), by striking ‘‘earning statement’’ and inserting ‘‘earnings statement’’; (5) in section 15 (15 U.S.C. 78o)— (A) in subsection (b)(1)— (i) in subparagraph (B), by striking ‘‘The order granting’’ and all that follows through ‘‘from such mem- bership.’’; and (ii) in the undesignated matter immediately fol- lowing subparagraph (B), by inserting after the first

LAWS sentence the following: ‘‘The order granting registration shall not be effective until such broker or dealer has become a member of a registered securities association,PUBLIC with on anorris VerDate Nov 24 2008 03:41 Aug 28, 2010 Jkt 089139 PO 00203 Frm 00559 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 GPO1 PsN: PUBL203