PROCEDURAL RULES FOR CEASE-AND-DESIST PROCEEDINGS.

SEC. 204. PROCEDURAL RULES FOR CEASE-AND-DESIST PROCEEDINGS. Section 23 of the Securities Exchange Act of 1934 (15 U.S.C. 78w) is amended by adding at the end thereof the following new subsection: “(d) Cease-and-Desist Procedures.—Within 1 year after the date of enactment of this subsection, the Commission shall establish 104 STAT. 941regulations providing for the expeditious conduct of hearings and rendering of decisions under section 21C of this title, section 8A of the Securities Act of 1933, section 9(f) of the Investment Company Act of 1940, and section 203(k) of the Investment Advisers Act of 1940.”.