Section 929Z – GAO Study on Securities Litigation

Section 929Z of the Dodd-Frank Wall Street Reform And Consumer Protection Act was not codified. It reads as follows:

SEC. 929Z. GAO STUDY ON SECURITIES LITIGATION.

(a) Study.--The Comptroller General of the United States shall conduct a study on the impact of authorizing a private right of action against any person who aids or abets another person in violation of the securities laws. To the extent feasible, this study shall include--

(1) a review of the role of secondary actors in companies issuance of securities;
(2) the courts interpretation of the scope of liability for secondary actors under Federal securities laws after January 14, 2008; and
(3) the types of lawsuits decided under the Private Securities Litigation Act of 1995.

(b) Report.--Not later than 1 year after the date of enactment of this Act, the Comptroller General shall submit a report to Congress on the findings of the study required under subsection (a).