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:
“Thy nose is as the tower of Lebanon which looketh toward Damascus.”
—Bible: Hebrew Song of Solomon, 7:4.
“... when we shall have our amendment to the Constitution of the United States, everyone will think it was always so, just exactly as many young people believe that all the privileges, all the freedom, all the enjoyments which woman now possesses were always hers. They have no idea of how every single inch of ground that she stands upon to-day has been gained by the hard work of some little handful of women of the past.”
—Susan B. Anthony (1820–1906)