15 U.S.C. § 77uuu : US Code - Section 77UUU: Special powers of the Commission

Search 15 U.S.C. § 77uuu : US Code - Section 77UUU: Special powers of the Commission

(a) Investigatory powers
For the purpose of any investigation or any other proceeding
which, in the opinion of the Commission, is necessary and proper
for the enforcement of this subchapter, any member of the
Commission, or any officer thereof designated by it, is empowered
to administer oaths and affirmations, subpena witnesses, compel
their attendance, take evidence, and require the production of any
books, papers, correspondence, memoranda, contracts, agreements, or
other records which the Commission deems relevant or material to
the inquiry. Such attendance of witnesses and the production of any
such books, papers, correspondence, memoranda, contracts,
agreements, or other records may be required from any place in the
United States or in any Territory at any designated place of
investigation or hearing. In addition, the Commission shall have
the powers with respect to investigations and hearings, and with
respect to the enforcement of, and offenses and violations under,
this subchapter and rules and regulations and orders prescribed
under the authority thereof, provided in sections 77t and 77v(b),
(c) of this title.
(b) Availability of reports from other offices; restrictions
The Treasury Department, the Comptroller of the Currency, the
Board of Governors of the Federal Reserve System, the Federal
Reserve Banks, and the Federal Deposit Insurance Corporation are
authorized, under such conditions as they may prescribe, to make
available to the Commission such reports, records, or other
information as they may have available with respect to trustees or
prospective trustees under indentures qualified or to be qualified
under this subchapter, and to make through their examiners or other
employees for the use of the Commission, examinations of such
trustees or prospective trustees. Every such trustee or prospective
trustee shall, as a condition precedent to qualification of such
indenture, consent that reports of examinations by Federal, State,
Territorial, or District authorities may be furnished by such
authorities to the Commission upon request therefor.
Notwithstanding any provision of this subchapter, no report,
record, or other information made available to the Commission under
this subsection, no report of an examination made under this
subsection for the use of the Commission, no report of an
examination made of any trustee or prospective trustee by any
Federal, State, Territorial, or District authority having
jurisdiction to examine or supervise such trustee, no report made
by any such trustee or prospective trustee to any such authority,
and no correspondence between any such authority and any such
trustee or prospective trustee, shall be divulged or made known or
available by the Commission or any member, officer, agent, or
employee thereof, to any person other than a member, officer,
agent, or employee of the Commission: Provided, That the Commission
may make available to the Attorney General of the United States, in
confidence, any information obtained from such records, reports of
examination, other reports, or correspondence, and deemed necessary
by the Commission, or requested by him, for the purpose of enabling
him to perform his duties under this subchapter.
(c) Investigation of prospective trustees
Any investigation of a prospective trustee, or any proceeding or
requirement for the purpose of obtaining information regarding a
prospective trustee, under any provision of this subchapter, shall
be limited -
(1) to determining whether such prospective trustee is
qualified to act as trustee under the provisions of subsection
(b) of section 77jjj of this title;
(2) to requiring the inclusion in the registration statement or
application of information with respect to the eligibility of
such prospective trustee under paragraph (1) of subsection (a) of
section 77jjj of this title; and
(3) to requiring the inclusion in the registration statement or
application of the most recent published report of condition of
such prospective trustee, as described in paragraph (2) of
subsection (a) of section 77jjj of this title, or, if the
indenture does not contain the provision with respect to combined
capital and surplus authorized by the last sentence of paragraph
(2) of subsection (a) of section 77jjj of this title, to
determining whether such prospective trustee is eligible to act
as such under paragraph (2) of subsection (a) of section 77jjj of
this title.
(d) Appointment and compensation of employees; lease and allocation
of real property
The provisions section 78d(b) of this title shall be applicable
with respect to the power of the Commission -
(1) to appoint and fix the compensation of such employees as
may be necessary for carrying out its functions under this
subchapter, and
(2) to lease and allocate such real property as may be
necessary for carrying out its functions under this subchapter.