<P> On May 5, 2006, in a notice in the Federal Register, President Bush delegated authority under this section to John Negroponte, the Director of National Intelligence . Administration officials told Business Week that they believe this is the first time a President has ever delegated the authority to someone outside the Oval Office . </P> <P> The Small Cap Liquidity Reform Act of 2013 (H.R. 3448; 113th Congress) would amend the Securities Exchange Act of 1934 to establish a liquidity pilot program for securities of emerging growth companies (EGC) with total annual gross revenues of less than $750 million, under which those securities shall be quoted using either: (1) a minimum increment of $0.05, (2) a minimum increment of $0.10, or (3) the increment at which the securities would be quoted without regard to such minimum increments . The bill was scheduled to receive a vote on the House floor on February 11 or 12, 2014 . </P>

Is the securities exchange act still in effect