Financial Services Reform: Hearings Before the Subcommittee on Finance and Hazardous Materials of the Committee on Commerce, House of Representatives, One Hundred Fifth Congress, First Session, May 1, 1997--"A Two Way Street" and Functional Reform; May 14, 1997--Consolidation in the Brokerage Industry; June 24, 1997--Insurance Regulation, Volume 4U.S. Government Printing Office, 1997 - 163 páginas |
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Palavras e frases frequentes
ance bank holding company bank insurance bank regulators banking and insurance believe BREEDEN broker-dealer brokerage business of insurance capital markets Chairman commercial Committee on Banks competition Comptroller concerns CONG CONGRES CONGRESS THE LIBRARY 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 LIBRARY OF CONGRESS licensing loan MANTON Mark Pope marketplace McCarran-Ferguson Act mutual funds NAIC NARAB national banks non-bank operations oversight OXLEY Paine Webber policyholders preempt PREPARED STATEMENT RARY regu regulatory structure requirements RESS securities firms securities industry securities markets sell insurance solvency subcommittee subsidiaries surance Thank tion underwriting
Passagens conhecidas
Página 113 - 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 153 - 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 119 - 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 112 - A lender may not use or disclose, without the prior written consent of the borrower taken at a tune other than during the loan transaction, information about a policy, for the purpose of replacing the policy. Lenders must explain to the borrower in writing that the insurance related to the loan may be purchased from an insurer or agent of the borrower's choice, subject to the lender's right to reject a given insurer or agent. However, a lender may not unreasonably reject an insurance policy furnished...
Página 138 - 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 32 - All agree that legislation length dealing between a financial firm and its affiliates. All agree that legislation must accomplish the following: protect the integrity of both the federal deposit insurance funds and state insurance guaranty mechanisms; enable all regulators to assure the financial integrity of the institutions for which they are responsible; and ensure that as banks are given freedom to affiliate with insurance companies, securities firms, and others they do not enjoy unfair advantages...
Página 14 - Commission, before the Committee on Banking and Financial Services Subcommittee on Financial Institutions and Consumer Credit, February 13, 1997, note 1.
Página 28 - ... 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,...
Página 111 - You may not know that the state insurance departments and the NAIC have made substantial progress in developing and using technological tools for improving efficiency for regulators and for those we regulate. Recently, for example, the NAIC embarked on a new public/private partnership that relies on this new technology. The Producer Information Network (PIN) involves automating and streamlining the licensing, appointment, and termination system for insurance producers throughout the United States....