Financial Services Competition Act of 1997U.S. Government Printing Office, 1997 - 378 páginas |
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Palavras e frases frequentes
affiliates agency alleged apply assets authority bank holding company bank's banking and commerce Banking Committee banking products banking regulators believe BERGMEYER bill Board broker broker-dealer capital Chairman charter cial commercial Commission complaint concerns Congress consolidated consumer protection corporate Council customers demutualization deposit insurance DINGELL engage entities Exchange Act exemption FDIC Federal Reserve Federal Reserve Board FEDERAL SAVINGS ASSOCIATIONS financial institutions financial modernization financial services financial services industry FSAs functional regulation Glass-Steagall Act Greenspan insurance companies insurance products insurance regulators investment investors issue legislation Levitt licensing limited loan marketplace MassMutual ment million mutual funds mutual holding company NARAB NASAA NASD national banks nonbank operating subsidiaries oversight OXLEY percent permit policyholders real estate regu regulatory requirements RETSINAS risk rules safety and soundness Section securities activities securities firms sell statement structure Subcommittee subsidy supervision surance Thank tion title insurance transactions underwriting violations
Passagens conhecidas
Página 373 - Board shall consider whether its performance by an affiliate of a holding company can reasonably be expected to produce benefits to the public, such as greater convenience, increased competition, or gains in efficiency, that outweigh possible adverse effects, such as undue concentration of resources, decreased or unfair competition, conflicts of interests, or unsound banking practices.
Página 287 - ... 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 82 - 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 82 - ... that there are always areas where improvements can be made to the state regulatory system, we have evolved and adapted as the financial markets have changed. In the context of the Congressional debate on financial services modernization, on March 17, 1997, the NAIC adopted a resolution (Attachment A) supporting state authority to regulate the insurance activities of financial institutions. The resolution states in part: "The NAIC supports functional regulation of the financial services industry...
Página 340 - Reports, its other publications and from noncommercial contributions, grants and fees. In addition to reports on Consumers Union's own product testing, Consumer Reports...
Página 287 - The Functional Regulation of the Business of Insurance Should be Left to the States As an initial matter, this Committee should reiterate that every entity that engages in the underwriting or sale of insurance is bound by State laws that regulate those activities. Because no insurance licensing and regulatory scheme exists at the federal level, the only available regulators of the participants in the insurance industry are the States themselves. However...
Página 373 - The court found that the following kinds of connections could qualify: "(1) banks generally have, in fact, provided the proposed services; (2) banks generally provide services that are operationally or functionally so similar to the proposed services as to equip them particularly well to provide the proposed...
Página 53 - You would have that advisory credit council composed of the Secretary of the Treasury, the Chairman of the Federal Reserve Board...
Página 373 - Section 4(c)(8) of the Bank Holding Company Act, the Board of Governors of the Federal Reserve may decide whether an activity is closely related to banking and is a proper incident thereto.