Financial Services Reform: Congressional HearingDIANE Publishing, 1999 - 163 páginas |
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Palavras e frases frequentes
agents and brokers ance bank affiliates bank holding company bank insurance banking and insurance banking regulators Barnett Bank believe BREEDEN broker-dealer brokerage business of insurance capital markets Chairman commercial Committee on Banks competition Comptroller concerns Congress consolidated supervision consumer protection Corporation customers Dean Witter entities Federal Reserve financial institutions financial services financial services industry financial services reform functional regulation GAVANES Glass-Steagall Glass-Steagall Act GLENN POMEROY Illinois insurance activities insurance agents insurance commissioners insurance companies insurance departments insurance industry insurance products insurance regulators insurance risk insurance sales investors issue latory legislation licensing Lincoln National Corporation loan MANTON Mark Pope marketplace McCarran-Ferguson Act ment mutual funds NAIC NARAB national banks non-bank operations oversight OXLEY Paine Webber policyholders preempt PREPARED STATEMENT regu regulatory structure requirements securities firms securities industry securities markets sell insurance solvency subcommittee subsidiaries sumers surance Thank tion underwriting
Passagens conhecidas
Página 111 - The business of insurance, and every person engaged therein, shall be subject to the laws of the several States which relate to the regulation or taxation of such business.
Página 151 - When I use a word,' Humpty Dumpty said in a rather scornful tone, 'it means just what I choose it to mean — neither more nor less.' 'The question is,' said Alice, 'whether you can make words mean so many different things.
Página 117 - States any such association located and doing business in any place the population of which does not exceed five thousand inhabitants, as shown by the last preceding decennial census, may, under such rules and regulations as may be prescribed by the Comptroller of the Currency, act as the agent for any fire, life, or other insurance company...
Página 62 - ... the opportunity to join this panel. The Committee should be commended for its continued leadership on the issue of financial services modernization. The question we will address today — the regulatory framework for consolidation in the banking and brokerage industry — is of great importance. I am pleased to have the opportunity to offer my views. Although I am a lawyer practicing here in Washington, and I previously served as Director of the Division of Market Regulation at the Securities...
Página 104 - ... company, a traditional insurance agent, a bank, a bank affiliate, a bank subsidiary, an S&L, a credit union, or any other entity. This means state insurance regulators would regulate insurance products, insurance underwriting, and sales activities, as defined by state law, generally including the sale of any contract whereby one undertakes to pay or indemnify another as to loss from certain specified contingencies or to pay a specified benefit in connection with a specified risk contingency,...
Página 12 - Part 5 operating subsidiary rules, which will permit subsidiaries of national banks to engage in activities that are "part of or incidental to the business of banking," but not permissible for the parent bank to engage in directly.
Página 136 - In addition to setting qualification standards and standards of actuarial practice, a major purpose of the Academy is to act as the public information organization for the profession. The Academy is nonpartisan and assists the public policy process through the presentation of clear, actuarial analysis.
Página 120 - Legislators (NCOIL), and the Commerce and Communications Committee of the National Conference of State Legislatures (NCSL). The NAIC, founded in 1871, is our nation's oldest association of state public officials. The members of the NAIC are the chief insurance regulatory officials of the 50 states, the District of Columbia, and four US territories. Insurance commissioners from 30 states and the District of Columbia serve as members of the Special Committee on Banks and Insurance, which the NAIC established...
Página 12 - Commission, before the Committee on Banking and Financial Services Subcommittee on Financial Institutions and Consumer Credit, February 13, 1997, note 1.
Página 26 - ... effectuate meaningful financial services reform are now ready to participate in the hard work, the debates, and the compromises necessary to make this legislation a reality. Never before has this situation occurred. We look to you for direction and leadership. We commend you for this hearing, and we look forward to working with you in any way we can to achieve this common goal. Thank you very much. [The prepared statement of Mark Pope follows:] PREPARED STATEMENT OF MARK POPE, VICE PESIDENT,...