Securities Regulatory Equality: Hearing Before the Subcommittee on Telecommunications and Finance of the Committee on Energy and Commerce, House of Representatives, One Hundred Third Congress, Second Session, on H.R. 3447, a Bill to Amend the Federal Securities Laws to Equalize the Regulatory Treatment of Participants in the Securities Industry, April 14, 1994, Volume 4U.S. Government Printing Office, 1994 - 285 pages |
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affiliated person American Bankers Association Arthur Levitt assets Association bank customers bank holding companies bank mutual fund bank premises bank securities activities banking organizations banking regulators banks and thrifts broker dealers brokerage firm certificates of deposit Chairman Commission conduct Congress consumer Corporation custodian disclosure engage ensure examination exemptions federal banking agencies Federal Reserve federal securities laws fiduciary functional regulation fund's Glass-Steagall Act guidelines Interagency Statement investment adviser Investment Advisers Act Investment Company Act Investment Company Institute investor protection issued LAWARE legislation Levitt Ludwig Mellon Mellon Bank municipal securities mutual fund activities mutual fund sales NASAA NASD national banks offer percent prohibit proprietary funds purchase registered broker-dealers requirements retail risk rules safety and soundness sales activities sales of mutual sales practices sales representative Section Securities Act securities firms securities regulators sell securities shareholders SIPC Subcommittee subsidiaries transactions transfer agent underwriting
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Page 55 - BEFORE THE SUBCOMMITTEE ON TELECOMMUNICATIONS AND FINANCE OF THE HOUSE COMMITTEE ON ENERGY AND COMMERCE...
Page 40 - Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and Office of Thrift Supervision, "Interagency Statement on Retail Sales of Nondeposit Investment Products
Page 33 - See Stock Exchange Regulation: Hearings on HR 7852 and HR 8720 Before the House Comm. on Interstate and Foreign Commerce. 73d Cong., 2d Sess.
Page 266 - Currently, banks also may serve as investment advisers to certain mutual funds without registering under the Investment Advisers Act of 1940. As a result of this loophole, shareholders in mutual funds advised by banks, unlike their counterparts in other mutual funds, do not receive the protections of that Act's provisions, including those related to the recordkeeping and inspections conducted by the SEC and those restricting performance-based fees and other potential conflicts of interest.
Page 199 - ... States and Canada. Its members include securities organizations of virtually all types — investment banks, brokers, dealers and mutual fund companies, as well as other firms functioning on the floors of the exchanges . SIA members are active in all exchange markets, in the over-the-counter market and in all phases of corporate and public finance. Collectively, they provide investors with a full spectrum of securities and investment services and account for approximately 90% of the securities...
Page 203 - Bank securities are exempt from the registration requirements of the Securities Act of 1933, and banks are excluded from the definitions of "broker...
Page 105 - Part 5 operating subsidiary rules, which will permit subsidiaries of national banks to engage in activities that are "part of or incidental to the business of banking," but not permissible for the parent bank to engage in directly.
Page 178 - Regulation Y. However, in view of potential conflicts of interests, a bank holding company which acts both as custodian and investment adviser for an investment company should exercise care to maintain at a minimal level demand deposit accounts of the investment company which are placed with a bank affiliate and should not invest cash funds of the investment company in time deposit accounts (including certificates of deposit) of any bank affiliate.
Page 232 - Before the Subcommittee on Securities of the Senate Committee on Banking, Housing, and Urban Affairs, 97th Cong., 2d Sess.
Page 228 - FDIC; • are not deposits or other obligations of the institution and are not guaranteed by the institution; and, • are subject to investment risks, including possible loss of the principal invested.