CLEAR Plus Act of 2015

To provide regulatory relief for certain financial institutions, and for other purposes. 1. Short title This Act may be cited as the CLEAR Plus Act of 2015 2. Shareholder threshold treatment of savings and loan holding companies (a) Amendments to section 12 of the Securities Exchange Act of 1934 Section 12(g) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78l(g) (1) in paragraph (1)(B), by striking or a bank holding company, as such term is defined in section 2 of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1841 , a bank holding company, or a savings and loan holding company (2) in paragraph (4), by striking or a bank holding company, as such term is defined in section 2 of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1841 , a bank holding company, or a savings and loan holding company (b) Amendments to section 15 of the Securities Exchange Act of 1934 Section 15(d) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78o(d) or a bank holding company, as such term is defined in section 2 of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1841 , a bank holding company, or a savings and loan holding company of less than 1,200 persons (c) Definitions Section 3(a) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a) (1) by redesignating the second paragraph (80) (relating to funding portals) as paragraph (81); and (2) by adding at the end the following: (82) Bank holding company The term bank holding company 12 U.S.C. 1841 (83) Savings and loan holding company The term savings and loan holding company 12 U.S.C. 1467a(a) . 3. Short form call reporting Section 7(a) of the Federal Deposit Insurance Act ( 12 U.S.C. 1817(a) (12) Short form reporting (A) In general The appropriate Federal banking agencies shall issue regulations allowing for a reduced reporting requirement for covered depository institutions when making the first and third report of condition for a year, as required pursuant to paragraph (3). (B) Covered depository institution defined For purposes of this paragraph, the term covered depository institution (i) has a CAMELS composite rating of 1 or 2 under the Uniform Financial Institutions Rating System (or an equivalent rating under a comparable rating system) as of the most recent examination of such institution; and (ii) satisfies such other criteria as the appropriate Federal banking agencies determine appropriate. .

Summary: CLEAR Plus Act of 2015 This bill amends the Securities Exchange Act of 1934 to: (1) subject a savings and loan holding company to registration requirements for securities whose issuer has total assets exceeding $10 million and a class of non-exempt equity security held of record by 2,000 or more persons; and (2) apply the automatic termination of registration, and suspension of the duty to file supplementary and periodic information, to a savings and loan holding company whose securities are found to be held by less than 1,200 persons. The Federal Deposit Insurance Act is amended to require the federal banking agencies to issue regulations allowing for a reduced reporting requirement for certain depository institutions when making the first and third report of condition for a year. These reporting requirements apply to any insured depository institution that: as of the most recent examination has a CAMELS composite rating of 1 or 2 under the Uniform Financial Institutions Rating System (or an equivalent rating under a comparable rating system) for capital adequacy, assets, management capability, earnings, liquidity or asset liability management, and sensitivity to market risk; and satisfies other appropriate criteria as such agencies determine.