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HR 6524 112th Congress House Finance and Financial Sector Administrative law and regulatory procedures Banking and financial institutions regulation Commodity Futures Trading Commission Corporate finance and management Department of the Treasury Federal Deposit Insurance Corporation (FDIC) Federal Reserve System Financial services and investments Foreign and international banking Securities and Exchange Commission (SEC)

U.S. Financial Services Global Viability Act

Introduced: September 21, 2012 See on congress.gov
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 21, 2012
Referred to the House Committee on Financial Services.
Sep 21, 2012
Introduced in House
 Plain-English summary Congressional Research Service

U.S. Financial Services Global Viability Act - Amends the Bank Holding Company Act of 1956 to delay the effective date for prohibitions or the mandate for related rulemaking against proprietary trading by a banking entity and any equity, partnership, or other ownership interest of a banking entity in or sponsorship of hedge funds or private equity funds. (Currently the effective date of such prohibitions and the mandate to make related regulations is the earlier of 12 months after the date of the issuance of final rules or 2 years after the date of enactment [July 21, 2010].)

Delays the effective date of such prohibitions and regulatory mandate until the Secretary of the Treasury: (1) identifies the foreign countries having foreign banks chartered and headquartered in them that compete significantly with banking entities subject to such Act, and (2) certifies that such countries have applied to such foreign banks (including subsidiaries and affiliates) requirements equivalent to those set forth under such Act.

What's happening now September 21, 2012

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1