FS Credit Opportunities Corp. v. Saba Capital Master Fund, Ltd. · ¶82

Rather than guess about what Congress intended Section 47(b) to mean based on what “changed language typically indicates,” ante, at 10, consider the legislative records in which the Committees spearheading the 1980 amendments explicitly said what they intended. As noted earlier, the relevant House and Senate Committees expressed their “wishes to make clear that private rights of action under [the amendments] should be implied to and in its enforcement to the same extent that such causes of action [were] implied under the [ICA].” S. Rep. No. 96–958, at 14; see also H. R. Rep. No. 96–1341, at 29. I have seldom seen a clearer expression of legislative intent in a congressional record.

slip opinion
Source edition
Passage preview. Read in context for the complete text, notes and references.