The Financial Services Competitiveness Act of 1995: Joint Hearings Before the Subcommittee on Telecommunications and Finance and the Subcommittee on Commerce, Trade, and Hazardous Materials of the Committee on Commerce, House of Representatives, One Hundred Fourth Congress, First Session, on H.R. 1062, June 6 and 8, 1995, Volume 4U.S. Government Printing Office, 1995 - 322 páginas |
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Palavras e frases frequentes
allow banks ance assets bank affiliates bank holding company bank insurance bank subsidiaries bank's banking agencies banking organizations banking regulators banks and securities bill Bliley broker-dealer brokerage Chairman cial commercial paper Commission Committee competitive Comptroller concerns conduct CONGRESS THE LIBRARY consumer Corporation customers depository institutions DINGELL disclosure engage entities FDIC federal banking Federal Reserve Board financial institutions financial services holding firewalls functional regulation Glass-Steagall Act GREENSPAN insurance agents insurance companies insurance products insured bank insured institution investment banking Investment Company Investment Company Institute investors issue JONES legislation loans McCarran-Ferguson Act money market funds mutual fund NASAA NASD national banks nonbanking OXLEY percent permit prohibit protect regu regulatory RESS restrictions risk safety and soundness securities activities securities affiliate securities firms securities laws securitization sell insurance services holding company SIDD statement structure Subcommittee supervision surance testimony Thank tion transactions underwriting uninsured
Passagens conhecidas
Página 139 - ... what constitutes doing business in this State, and also exercises powers and privileges available to the state by virtue of Public Law 15, 79th Congress of the United States, Chapter 20, 1st Session, S. 340, which declares that the business of insurance and every person engaged therein shall be subject to the laws of the several states.
Página 115 - A member, in the conduct of his business, shall observe high standards of commercial honor and just and equitable principles of trade.
Página 229 - Many of these protections, at least for the banking industry, already exist. For example, Section 106 of the Bank Holding Company Act Amendments of 1970 (12 USC 1972) prevents consumers from being required to purchase other corporate products as a condition of obtaining a bank product. Such illegal "tie-ins" would subject violators to substantial damages.
Página 58 - Of which a majority of its directors, trustees, or other persons exercising similar functions are directors of any one member bank. (c) The term "holding company affiliate...
Página 57 - Paragraph (b)(l)(i) of this section notwithstanding, a subsidiary of an insured nonmember bank may engage in underwriting activities other than as limited thereby provided that the following conditions are met: (i) The subsidiary is a member in good standing of the National Association of Securities Dealers ("NASD...
Página 57 - The affiliate conducts business pursuant to independent policies and procedures designed to inform customers and prospective customers of the affiliate that the affiliate is a separate organization from the bank and that investments recommended, offered or sold by the affiliate are not bank deposits, are not insured by the FDIC, and are not guaranteed by the bank nor are otherwise obligations of the bank.
Página 59 - Islands, which both— (i) accepts demand deposits or deposits that the depositor may withdraw by check or similar means for payment to third parties or others; and (ii) is engaged in the business of making commercial loans. (2) EXCEPTIONS.— The term "bank...
Página 59 - Bank Holding Company Act of 1956". DEFINITIONS SEC. 2. [12 USC 1841] (a)(l) Except as provided in paragraph (5) of this subsection, "bank holding company" means any company which has control over any bank or over any company that is or becomes a bank holding company by virtue of this Act.
Página 58 - ... at the preceding election, or controls in any manner the election of a majority of its directors, trustees, or other persons exercising similar functions...
Página 57 - Act. (8) Directly or indirectly condition any loan or extension -of credit to any company on the requirement that the company contract with the banks securities company* to underwrite or distribute the company's securities or condition a loan to a person on the requirement that the person purchase any security underwritten or -distributed by the bank's securities company. An insured nonmember bank...