summary
Introduced
06/28/2017
06/28/2017
In Committee
11/14/2017
11/14/2017
Crossed Over
12/12/2017
12/12/2017
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
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, with a banking entity that is an investment adviser to the hedge fund or private-equity fund, if: the investment adviser is not, and does not share the same name with, an insured depository institution, a company that controls an insured depository institution, or a company treated as a bank holding company for purposes of specified provisions of law relating to nonbanking activities of foreign banks; and the name does not contain the word "bank."
AI Summary
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, with a banking entity that is an investment adviser to the hedge fund or private-equity fund, as long as: (1) the investment adviser is not an insured depository institution, a company that controls an insured depository institution, or a company treated as a bank holding company, (2) the investment adviser does not share the same name or a variation of the same name as an insured depository institution, a company that controls an insured depository institution, or a company treated as a bank holding company, and (3) the name does not contain the word "bank".
Committee Categories
Business and Industry, Housing and Urban Affairs
Sponsors (6)
Michael Capuano (D)*,
Bill Foster (D),
Vicente Gonzalez (D),
Randy Hultgren (R),
Gregory Meeks (D),
Steve Stivers (R),
Last Action
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 12/12/2017)
Official Document
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