Political Quotes

“Madam Chair, I have an amendment at the desk. The Acting CHAIR. The Clerk will designate the amendment. The text of the amendment is as follows: Add at the end the following: DIVISION D--INCREASING INVESTOR OPPORTUNITIES SEC. 4001. CLOSED-END COMPANY AUTHORITY TO INVEST IN PRIVATE FUNDS. (a) In General.--Section 5 of the Investment Company Act of 1940 (15 U.S.C. 80a-5) is amended by adding at the end the following: ``(d) Closed-End Company Authority to Invest in Private Funds.-- ``(1) In general.--Except as otherwise prohibited or restricted by this Act (or any rule issued under this Act), the Commission may not prohibit or otherwise limit a closed- end company from investing any or all of the assets of the closed-end company in securities issued by private funds. ``(2) Other restrictions on commission authority.-- ``(A) In general.--Except as otherwise prohibited or restricted by this Act (or any rule issued under this Act) or to the extent permitted by subparagraph (B), the Commission may not impose any condition on, restrict, or otherwise limit-- ``(i) the offer to sell, or the sale of, securities issued by a closed-end company that invests, or proposes to invest, in securities issued by private funds; or ``(ii) the listing of the securities of a closed-end company described in clause (i) on a national securities exchange.…”