Investor Clarity and Bank Parity Act

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

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, as a banking entity that is an investment advisor to the hedge fund or private equity fund, if:

• the investment advisor is not an insured depository institution, a company that controls an insured depository institution, or a company treated as a bank holding company for purposes of the International Banking Act of 1978 relating to nonbanking activities of foreign banks;
• the investment advisor does not share the same name, or a variation of it, as an insured depository institution, a company that controls an insured depository institution, or a company treated as a bank holding company for the specified purposes of the International Banking Act of 1978; and
• the name does not contain the word "bank."

[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4096 Introduced in House (IH)]

<DOC>






114th CONGRESS
  1st Session
                                H. R. 4096

  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.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           November 19, 2015

  Mr. Capuano (for himself and Mr. Stivers) introduced the following 
    bill; which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Investor Clarity and Bank Parity 
Act''.

SEC. 2. NAMING RESTRICTIONS.

    Section 13 of the Bank Holding Company Act of 1956 (12 U.S.C. 1851) 
is amended--
            (1) 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--
                                    ``(I) 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;
                                    ``(II) 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
                                    ``(III) such name does not contain 
                                the word `bank'''; and
            (2) in subsection (h)(5)(C), by inserting before the period 
        the following: ``, except as permitted under subsection 
        (d)(1)(G)(vi)''.
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