article: SECTION 1. SHORT TITLE. This Act may be cited as the ``Enhanced Emergency and Enforcement Authority Act''. SEC. 2. EMERGENCY ORDERS RELATED TO COMPLIANCE DURING AN EMERGENCY. Section 12(k) of the Securities Exchange Act of 1934 (15 U.S.C. 78l(k) is amended-- (1) in paragraph (2)(A)(iii)-- (A) in subclause (I), by striking ``; or'' and inserting a semicolon; (B) in subclause (II), by striking the period and inserting ``; or''; and (C) by inserting after subclause (II) the following: ``(III) the ability of investors, issuers, brokers or dealers, transfer agents, investment advisers, or other market participants to conduct securities activities or comply with filing, reporting, delivery, or other obligations under the securities laws in a timely, orderly, or efficient manner.''; and (2) in paragraph (7)(A)(ii)-- (A) in subclause (I), by striking ``; or'' and inserting a semicolon; (B) in subclause (II), by striking ``; and'' and inserting ``; or''; and (C) by inserting after subclause (II) the following: ``(III) the ability of investors, issuers, brokers or dealers, transfer agents, investment advisers, or other market participants to conduct securities activities or comply with filing, reporting, delivery, or other obligations under the securities laws in a timely, orderly, or efficient manner; and''. SEC. 3. NATIONWIDE SERVICE OF PROCESS. (a) Securities Act of 1933.--Section 22(a) of the Securities Act of 1933 (15 U.S.C. 77v(a)) is amended by inserting after the second sentence the following: ``In any action or proceeding instituted by the Commission under this title in a United States district court for any judicial district, subpoenas issued by or on behalf of such court to compel the attendance of witnesses or the production of documents or tangible things (or both) may be served in any other district. Such subpoenas may be served and enforced without application to the court or a showing of cause, notwithstanding the provisions of rule 45(b)(2), (c)(3)(A)(ii), and (c)(3)(B)(iii) of the Federal Rules of Civil Procedure.''. (b) Securities Exchange Act of 1934.--Section 27 of the Securities Exchange Act of 1934 (15 U.S.C. 78aa) is amended by inserting after the third sentence the following: ``In any action or proceeding instituted by the Commission under this title in a United States district court for any judicial district, subpoenas issued by or on behalf of such court to compel the attendance of witnesses or the production of documents or tangible things (or both) may be served in any other district. Such subpoenas may be served and enforced without application to the court or a showing of cause, notwithstanding the provisions of rule 45(b)(2), (c)(3)(A)(ii), and (c)(3)(B)(iii) of the Federal Rules of Civil Procedure.''. (c) Investment Company Act of 1940.--Section 44 of the Investment Company Act of 1940 (15 U.S.C. 80a-43) is amended by inserting after the fourth sentence the following: ``In any action or proceeding instituted by the Commission under this title in a United States district court for any judicial district, subpoenas issued by or on behalf of such court to compel the attendance of witnesses or the production of documents or tangible things (or both) may be served in any other district. Such subpoenas may be served and enforced without application to the court or a showing of cause, notwithstanding the provisions of rule 45(b)(2), (c)(3)(A)(ii), and (c)(3)(B)(iii) of the Federal Rules of Civil Procedure.''. (d) Investment Advisers Act of 1940.--Section 214 of the Investment Advisers Act of 1940 (15 U.S.C. 80b-14) is amended by inserting after the third sentence the following: ``In any action or proceeding instituted by the Commission under this title in a United States district court for any judicial district, subpoenas issued by or on behalf of such court to compel the attendance of witnesses or the production of documents or tangible things (or both) may be served in any other district. Such subpoenas may be served and enforced without application to the court or a showing of cause, notwithstanding the provisions of rule 45(b)(2), (c)(3)(A)(ii), and (c)(3)(B)(iii) of the Federal Rules of Civil Procedure.''.
summary: Enhanced Emergency and Enforcement Authority Act - Amends the Securities Exchange Act of 1934 to empower the Securities and Exchange Commission (SEC) to reduce, eliminate, or prevent substantial disruption by an emergency of the ability of market participants to conduct securities activities or comply with obligations under the securities laws in a timely, orderly, or efficient manner. Amends the Securities Act of 1933, the Securities Exchange Act of 1934, and the Investment Company Act of 1940 to provide that, in any action or proceeding instituted by the SEC in federal district court for any judicial district, subpoenas issued by or on behalf of such court to compel the attendance of witnesses or the production of documents or tangible things (or both) may be served in any other district (thus granting the SEC nationwide service of process).