Securities Activities of Commercial Banks: Hearings Before the Subcommittee on Securities of the Committee on Banking, Housing and Urban Affairs, United States Senate, Ninety-fourth Congress, First Session ... December 9 and 10, 1975U.S. Government Printing Office, 1976 - 454 pages |
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Common terms and phrases
advisory services agency accounts Amendments assets automatic investment services bank holding companies bank participation bank securities activities bank's bankers banking activities banking industry banking system banks offering broker broker-dealer capital markets CIRT Clearing House collective trust fund commercial banks Committee common trust fund competition Comptroller conflicts of interest Cong Congress Continental corporate Currency customers dealer dividend reinvestment plans exemption Federal Reserve System Federal securities laws fiduciary Glass-Steagall Act individual retirement accounts Investment Advisers Act investment advisory investment banking Investment Company Act Investment Company Institute investment management issuer issues Keogh Plans legislation loans member bank ment Merrill Lynch mutual funds NASD national banks NYSE operation permitted potential private placements prohibited purchase questions registered regulation regulatory requirements revenue bonds Securities Act securities and investment securities business securities industry securities markets security affiliates Senator WILLIAMS Study Outline Subcommittee tion transactions Trust Company trust department underwriting violations
Popular passages
Page 206 - common trust fund" means a fund maintained by a bank (as defined in section 104) — (1) exclusively for the collective investment and reinvestment of moneys contributed thereto by the bank in its capacity as a trustee, executor, administrator, or guardian...
Page 61 - To exercise by its board of directors, or duly authorized officers or agents, subject to law, all such incidental powers as shall be necessary to carry on the business of banking; by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt; by receiving deposits; by buying and selling exchange, coin and bullion; by loaning money on personal security; and by obtaining, issuing and circulating notes according to the provisions of this Title.
Page 225 - underwriter" means any person who has purchased from an issuer with a view to, or offers or sells for an issuer in connection with, the distribution of any security, or participates or has a direct or indirect participation in any such undertaking, or participates or has a participation in the direct or indirect underwriting of any such undertaking...
Page 213 - The limitations and restrictions herein contained as to dealing in, underwriting and purchasing for its own account, investment securities shall not apply to obligations of the United States, or general obligations of any State or of any political subdivision thereof, or obligations issued under authority of the Federal Farm Loan Act, as amended, or issued by the thirteen banks for cooperatives or any of them or the Federal Home Loan Banks...
Page 215 - No officer, director, or employee of any corporation or unincorporated association, no partner or employee of any partnership, and no individual, primarily engaged in the issue, flotation, underwriting, public sale, or distribution, at wholesale or retail, or through syndicate participation, of stocks, bonds, or other similar securities...
Page 225 - broker" means any person engaged in the business of effecting transactions in securities for the account of others, but does not include a bank.
Page 212 - Seventh. To exercise by its board of directors, or duly authorized officers or agents, all powers specifically granted by the provisions of this Act and such incidental, powers as shall be necessary to carry on the business of banking within the limitations prescribed by this Act.
Page 218 - ... controls in any manner the election of a majority of its directors, trustees, or other persons exercising similar functions...
Page 223 - ... cooperative association as defined in the Agricultural Marketing Act, approved June 15, 1929, as amended...
Page 227 - Investment adviser" means any person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing, or selling securities...