Holding Company Registration Threshold Equalization Act of 2013

Bill: 113-s-872
Sponsor: full_name: Sen. Toomey, Patrick [R-PA]
Introduced: 2013-05-07
Policy area: Finance and Financial Sector
Subjects: Banking and financial institutions regulation

Licensing and registrations

Securities
Latest action: action_date: 2013-05-07
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2013-05-07
action_desc: Introduced in Senate
text: <p>Holding Company Registration Threshold Equalization Act of 2013 - Amends the Securities Exchange Act of 1934 to require an issuer that is a savings and loan holding company to register with the Securities and Exchange Commission (SEC) if: (1) its assets exceed $10 million, and (2) it has a class of equity security held of record by 2,000 or more persons.</p> <p>Requires termination of such registration after a savings and loan holding company certifies that its holders of record of such class of security has been reduced to fewer than 1,200 persons.</p> <p>Suspends automatically the duty of a savings and loan holding company to file supplementary and periodic information if the securities of each class to which the registration statement relates (other than any class of asset-backed securities) are held of record by fewer than 1,200 persons. </p>

tv_txt: II 113th CONGRESS 1st Session S. 872 IN THE SENATE OF THE UNITED STATES May 7, 2013 Mr. Toomey (for himself and Mr. Pryor ) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To amend the Securities Exchange Act of 1934, to make the shareholder threshold for registration of savings and loan holding companies the same as for bank holding companies.

1. Short title This Act may be cited as the Holding Company Registration Threshold Equalization Act of 2013 . 2. Registration threshold for savings and loan holding companies The Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) is amended— (1) in section 12(g) ( 15 U.S.C. 78l(g) )— (A) in paragraph (1)(B), by inserting after is a bank the following: , a savings and loan holding company (as such term is defined in section 10 of the Home Owners' Loan Act), ; and (B) in paragraph (4)— (i) by inserting after case of a bank the following: , a savings and loan holding company (as such term is defined in section 10 of the Home Owners' Loan Act), ; and (ii) by striking persons persons and inserting persons ; and (2) in section 15(d) ( 15 U.S.C. 78o(d) ), by striking case of bank and inserting the following: case of a bank, a savings and loan holding company (as such term is defined in section 10 of the Home Owners' Loan Act), .