STUDY AND REPORT ON PROTECTIONS FOR SENIOR CITIZENS AND QUALIFIED RETIREMENT PLANS.

SEC. 106. STUDY AND REPORT ON PROTECTIONS FOR SENIOR CITIZENS AND QUALIFIED RETIREMENT PLANS. (a) In General.—Not later than 180 days after the date of enactment of this Act, the Securities and Exchange Commission shall— (1) determine whether investors that are senior citizens or qualified retirement plans require greater protection against securities fraud than is provided in this Act and the amendments made by this Act; (2) determine whether investors that are senior citizens or qualified retirement plans have been adversely impacted by abusive or unnecessary securities fraud litigation, and whether the provisions in this Act or amendments made by 109 STAT. 758 this Act are sufficient to protect their investments from such litigation; and (3) if so, submit to the Congress a report containing recommendations on protections from securities fraud and abusive or unnecessary securities fraud litigation that the Commission determines to be appropriate to thoroughly protect such investors. (b) Definitions.—For purposes of this section— (1) the term “qualified retirement plan” has the same meaning as in section 4974(c) of the Internal Revenue Code of 1986; and (2) the term “senior citizen” means an individual who is 62 years of age or older as of the date of the securities transaction at issue.