H.R. 4096 — Investor Clarity and Bank Parity Act

Summary

(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."

Legislative Actions

2015-11-19

Introduced in House

2015-11-19

Introduced in House

2015-11-19

Referred to the House Committee on Financial Services.

2016-02-24

Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.

2016-03-02

Committee Consideration and Mark-up Session Held.

2016-03-02

Ordered to be Reported by Voice Vote.

2016-04-26

Reported by the Committee on Financial Services. H. Rept. 114-523.

2016-04-26

Reported by the Committee on Financial Services. H. Rept. 114-523.

2016-04-26

Placed on the Union Calendar, Calendar No. 403.

2016-04-26

Mr. Garrett moved to suspend the rules and pass the bill.

2016-04-26

Considered under suspension of the rules. (consideration: CR H1949-1950)

2016-04-26

DEBATE - The House proceeded with forty minutes of debate on H.R. 4096.

2016-04-26

At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.

2016-04-26

Considered as unfinished business. (consideration: CR H1988-1989)

2016-04-26

Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 395 - 3 (Roll no. 165).(text: CR H1949)

Roll Call #165 (House)

2016-04-26

On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 395 - 3 (Roll no. 165). (text: CR H1949)

Roll Call #165 (House)

2016-04-26

Motion to reconsider laid on the table Agreed to without objection.

2016-04-27

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Investor Clarity and Bank Parity Act

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