; and (B) selling the shares to third parties who are not market makers or otherwise described in Treas. Reg. section 1.817–5(f) (1) and (3). (3) Market maker The term market maker means a financial institution that is a registered broker or dealer under section 15(b) of the Securities Exchange Act of 1934 that maintains liquidity for an exchange-traded fund on a national stock exchange by being always ready to buy and sell shares of such fund on the market, but only if the financial institution is contractually or legally precluded from selling or buying such shares to or from persons who are not authorized participants or otherwise described in Treas. Reg. section 1.817–5(f) (2) and (3). (e) Effective dates, enforcement, and interpretations (1) Effective dates (A) Subsection (b), and the definitions under subsection (d), shall apply to segregated asset account investments made on or after the date of enactment of this Act. (B) Subsection (c) shall apply to taxable years beginning after December 31, 1983. (2) Enforcement and interpretations Prior to the date that the Secretary of the Treasury issues final regulations pursuant to this section— (A) the Secretary shall administer and enforce the law in accordance with this section and the effective dates in paragraph (1) of this subsection; and (B) taxpayers may rely upon their reasonable good faith interpretations of the preceding subsections of this section. III Simplification and clarification of retirement plan rules 301. Review and report to the Congress relating to reporting and disclosure requirements (a) Study As soon as practicable after the date of the enactment of this Act, the Secretary of Labor, the Secretary of the Treasury, and the Director of the Pension Benefit Guaranty Corporation shall review the reporting and disclosure requirements of— (1) title I of the Employee Retirement Income Security Act of 1974, as applicable to pension plans (as defined in section 3(2) of such Act)