The Tower Amendment is a 1975 amendment to the United States Securities Exchange Act of 1934.
In the same year, the Municipal Securities Rulemaking Board (MSRB) had been put in place and was a driving force behind the Tower Amendment. Authored by the former Republican Senator John Tower of Texas, the amendment prohibits the SEC and MSRB from directly or indirectly requiring issuers to file municipal securities documents with them before the securities are sold.
Famous quotes containing the words tower and/or amendment:
“The Church disowned, the tower overthrown, the bells upturned, what have we to do
But stand with empty hands and palms turned upwards
In an age which advances progressively backwards?”
—T.S. (Thomas Stearns)
“The First Amendment is not a blanket freedom-of-information act. The constitutional newsgathering freedom means the media can go where the public can, but enjoys no superior right of access.”
—George F. Will (b. 1934)