Removal of certain authority related to fiduciary duties
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(a) Securities Exchange Act of 1934 The second subsection (l) of section 15 of the Securities Exchange Act of 1934 (15 U.S.C. 78o; relating to Other matters) is amended— (1) by striking Commission shall and all that follows through (1) facilitate and inserting Commission shall facilitate; (2) in paragraph (1), by striking; and and inserting a period; and (3) by striking paragraph (2). (b) Investment Advisers Act of 1940 Section 211(h) of the Investment Advisers Act of 1940 (15 U.S.C. 80b–11(h)) is amended— (1) by striking Commission shall and all that follows through (1) facilitate and inserting Commission shall facilitate; (2) in paragraph (1), by striking; and and inserting a period; and (3) by striking paragraph (2).