IB
Union Calendar No. 316
115th CONGRESS
1st Session
H. R. 3093
[Report No. 115–426]
IN THE HOUSE OF REPRESENTATIVES
June 28, 2017
Mr. Capuano (for himself, Mr. Stivers, Mr. Meeks, Mr. Foster, and Mr. Gonzalez of Texas) introduced the following bill; which was referred to the Committee on Financial Services
November 28, 2017
Additional sponsor: Mr. Hultgren
November 28, 2017
Committed to the Committee of the Whole House on the State of the Union and ordered to be printed
A BILL
To amend the Volcker Rule to permit certain investment advisers to share a similar name with a private equity fund, subject to certain restrictions, and for other purposes.
Short title
This Act may be cited as the Investor Clarity and Bank Parity Act
.
Naming restrictions
Section 13 of the Bank Holding Company Act of 1956 (12 U.S.C. 1851) is amended—
in subsection (d)(1)(G)(vi), by inserting before the semicolon the following:
, except that the hedge fund or private equity fund may share the same name or a variation of the same name as a banking entity that is an investment adviser to the hedge fund or private equity find, if—
such investment adviser is not an insured depository institution, a company that controls an insured depository institution, or a company that is treated as a bank holding company for purposes of section 8 of the International Banking Act of 1978;
such investment adviser does not share the same name or a variation of the same name as an insured depository institution, any company that controls an insured depository institution, or any company that is treated as a bank holding company for purposes of section 8 of the International Banking Act of 1978; and
such name does not contain the word bank
; and
in subsection (h)(5)(C), by inserting before the period the following: , except as permitted under subsection (d)(1)(G)(vi)
.
November 28, 2017
Committed to the Committee of the Whole House on the State of the Union and ordered to be printed
