; and (3) by adding at the end the following: (2) Omnibus orders of investigation (A) Duration and renewal An omnibus order of investigation shall not be for an indefinite duration and may be renewed only by Commission action. (B) Definition In paragraph (A), the term omnibus order of investigation means an order of the Commission authorizing 1 of more members of the Commission or its staff to issue subpoenas under paragraph (1) to multiple persons in relation to a particular subject matter area. . 827. Elimination of automatic disqualifications The Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq.), as amended by this Act, is further amended by inserting after section 4F the following: 4G. Elimination of automatic disqualifications (a) In general Notwithstanding any other provision of law, a non-natural person may not be disqualified or otherwise made ineligible to use an exemption or registration provision, engage in an activity, or qualify for any similar treatment under a provision of the securities laws or the rules issued by the Commission under the securities laws by reason of having, or a person described in subsection (b) having, been convicted of any felony or misdemeanor or made the subject of any judicial or administrative order, judgment, or decree arising out of a governmental action (including an order, judgment, or decree agreed to in a settlement), or having, or a person described in subsection (b) having, been suspended or expelled from membership in, or suspended or barred from association with a member of, a registered national securities exchange or a registered national or affiliated securities association for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade, unless the Commission, by order, on the record after notice and an opportunity for hearing, makes a determination that such non-natural person should be so disqualified or otherwise made ineligible for purposes of such provision. (b) Person described A person is described in