15 USC 80a-37(a)

§ 80a–37

TITLE 15—COMMERCE AND TRADE

(Aug. 22, 1940, ch. 686, title I, § 37, 54 Stat. 841.)
§ 80a–37. Rules, regulations, and orders
(a) Powers of Commission
The Commission shall have authority from
time to time to make, issue, amend, and rescind
such rules and regulations and such orders as
are necessary or appropriate to the exercise of
the powers conferred upon the Commission elsewhere in this subchapter, including rules and
regulations defining accounting, technical, and
trade terms used in this subchapter, and prescribing the form or forms in which information
required in registration statements, applications, and reports to the Commission shall be
set forth. For the purposes of its rules or regulations the Commission may classify persons, securities, and other matters within its jurisdiction and prescribe different requirements for different classes of persons, securities, or matters.
(b) Filing of information and documents
The Commission, by such rules and regulations or order as it deems necessary or appropriate in the public interest or for the protection of investors, may authorize the filing of
any information or documents required to be
filed with the Commission under this subchapter, subchapter II of this chapter, the Securities Act of 1933 [15 U.S.C. 77a et seq.], the Securities Exchange Act of 1934 [15 U.S.C. 78a et
seq.], the Public Utility Holding Company Act of
1935,1 or the Trust Indenture Act of 1939 [15
U.S.C. 77aaa et seq.], by incorporating by reference any information or documents theretofore or concurrently filed with the Commission
under this subchapter or any of such Acts.
(c) Good faith conformance with rules, regulations, and orders
No provision of this subchapter imposing any
liability shall apply to any act done or omitted
in good faith in conformity with any rule, regulation, or order of the Commission, notwithstanding that such rule, regulation, or order
may, after such act or omission, by amended or
rescinded or be determined by judicial or other
authority to be invalid for any reason.
(Aug. 22, 1940, ch. 686, title I, § 38, 54 Stat. 841.)
REFERENCES IN TEXT
The Securities Act of 1933, referred to in subsec. (b),
is act May 27, 1933, ch. 38, title I, 48 Stat. 74, as amended, which is classified generally to subchapter I (§ 77a et
seq.) of chapter 2A of this title. For complete classification of this Act to the Code, see section 77a of this title
and Tables.
The Securities Exchange Act of 1934, referred to in
subsec. (b), is act June 6, 1934, ch. 404, 48 Stat. 881, as
amended, which is classified generally to chapter 2B
(§ 78a et seq.) of this title. For complete classification
of this Act to the Code, see section 78a of this title and
Tables.
The Public Utility Holding Company Act of 1935, referred to in subsec. (b), is title I of act Aug. 26, 1935, ch.
687, 49 Stat. 803, as amended, which was classified generally to chapter 2C (§ 79 et seq.) of this title, prior to
repeal by Pub. L. 109–58, title XII, § 1263, Aug. 8, 2005, 119
Stat. 974. For complete classification of this Act to the
Code, see Tables.
The Trust Indenture Act of 1939, referred to in subsec.
(b), is title III of act May 27, 1933, ch. 38, as added Aug.
1 See

References in Text note below.

Page 434

3, 1939, ch. 411, 53 Stat. 1149, as amended, which is classified generally to subchapter III (§ 77aaa et seq.) of
chapter 2A of this title. For complete classification of
this Act to the Code, see section 77aaa of this title and
Tables.
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, §§ 1, 2,
eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 1265, set out under
section 78d of this title.

§ 80a–38. Procedure for issuance of rules and regulations
Subject to the provisions of chapter 15 of title
44 and regulations prescribed under the authority thereof, the rules and regulations of the
Commission under this subchapter, and amendments thereof, shall be effective upon publication in the manner which the Commission shall
prescribe, or upon such later date as may be provided in such rules and regulations.
(Aug. 22, 1940, ch. 686, title I, § 39, 54 Stat. 842.)
CODIFICATION
‘‘Chapter 15 of title 44’’ substituted in text for ‘‘the
Federal Register Act’’ on authority of Pub. L. 90–620,
§ 2(b), Oct. 22, 1968, 82 Stat. 1305, the first section of
which enacted Title 44, Public Printing and Documents.
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, §§ 1, 2,
eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 1265, set out under
section 78d of this title.

§ 80a–39. Procedure for issuance of orders
(a) Notice and hearing
Orders of the Commission under this subchapter shall be issued only after appropriate
notice and opportunity for hearing. Notice to
the parties to a proceeding before the Commission shall be given by personal service upon each
party or by registered mail or certified mail or
confirmed telegraphic notice to the party’s last
known business address. Notice to interested
persons, if any, other than parties may be given
in the same manner or by publication in the
Federal Register.
(b) Application verified under oath admissible as
evidence
The Commission may provide, by appropriate
rules or regulations, that an application verified
under oath may be admissible in evidence in a
proceeding before the Commission and that the
record in such a proceeding may consist, in
whole or in part, of such application.
(c) Parties
In any proceeding before the Commission, the
Commission, in accordance with such rules and
regulations as it may prescribe, shall admit as a
party any interested State or State agency, and
may admit as a party any representative of interested security holders, or any other person
whose participation in the proceeding may be in
the public interest or for the protection of investors.
(Aug. 22, 1940, ch. 686, title I, § 40, 54 Stat. 842;
Pub. L. 86–507, § 1(15), June 11, 1960, 74 Stat. 201.)