Investor Clarity and Bank Parity Act

Bill: 114-hr-4096
Sponsor: Rep. Capuano, Michael E. [D-MA-7]
Introduced: 2015-11-19 in the House
Policy area: Finance and Financial Sector
Subjects: Banking and financial institutions regulation
Financial services and investments
Securities

Summary:
action_date: 2015-11-19
text: 

Investor Clarity and Bank Parity Act

 
This bill amends the Bank Holding Company Act of 1956 to permit a hedge fund or private equity fund to share the same name, or a variation of the same name, as a banking entity that is an investment advisor to the hedge fund or private equity fund, if: 
 
 
the investment advisor is not an insured depository institution, a company that controls an insured depository institution, or a company treated as a bank holding company for purposes of the International Banking Act of 1978 relating to nonbanking activities of foreign banks;
 
the investment advisor does not share the same name, or a variation of it, as an insured depository institution, a company that controls an insured depository institution, or a company treated as a bank holding company for the specified purposes of the International Banking Act of 1978; and 
 
the name does not contain the word &quot;bank.&quot;
 

action_date: 2016-04-26
text: 
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
 

Investor Clarity and Bank Parity Act

 
(Sec. 2) This bill amends the Bank Holding Company Act of 1956 to permit a hedge fund or private equity fund to share the same name, or a variation of the same name, as a banking entity that is an investment advisor to the hedge fund or private equity fund, if: 
 
 
the investment advisor is not an insured depository institution, a company that controls an insured depository institution, or a company treated as a bank holding company for purposes of the International Banking Act of 1978 relating to nonbanking activities of foreign banks;
 
the investment advisor does not share the same name, or a variation of it, as an insured depository institution, a company that controls an insured depository institution, or a company treated as a bank holding company for the specified purposes of the International Banking Act of 1978; and 
 
the name does not contain the word &quot;bank.&quot;
 


Legislative actions:
action_date: 2016-04-27
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2016-04-26
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2016-04-26
text: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 395 - 3 (Roll no. 165). (text: CR H1949)
action_date: 2016-04-26
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 395 - 3 (Roll no. 165).(text: CR H1949)
action_date: 2016-04-26
text: Considered as unfinished business. (consideration: CR H1988-1989)
action_date: 2016-04-26
text: At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
action_date: 2016-04-26
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 4096.
action_date: 2016-04-26
text: Considered under suspension of the rules. (consideration: CR H1949-1950)
action_date: 2016-04-26
text: Mr. Garrett moved to suspend the rules and pass the bill.
action_date: 2016-04-26
text: Placed on the Union Calendar, Calendar No. 403.
action_date: 2016-04-26
text: Reported by the Committee on Financial Services. H. Rept. 114-523.
action_date: 2016-04-26
text: Reported by the Committee on Financial Services. H. Rept. 114-523.
action_date: 2016-03-02
text: Ordered to be Reported by Voice Vote.
action_date: 2016-03-02
text: Committee Consideration and Mark-up Session Held.
action_date: 2016-02-24
text: Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
action_date: 2015-11-19
text: Referred to the House Committee on Financial Services.
action_date: 2015-11-19
text: Introduced in House
action_date: 2015-11-19
text: Introduced in House