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HR 3465 97th Congress House Finance and Financial Sector Bank holding companies Investment advisers Investment banking Mutual funds Savings and loan associations Securities and Investments

A bill to amend the Investment Company Act of 1940 and for other purposes.

Introduced: May 6, 1981 See on congress.gov
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 Everywhere this bill has been 5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 15, 1981
Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
May 7, 1981
Referred to Subcommittee on Telecommunications, Consumer Protection and Finance.
May 6, 1981
Referred to House Committee on Energy and Commerce.
May 6, 1981
Referred to House Committee on Banking, Finance and Urban Affairs.
May 6, 1981
Introduced in House
 Plain-English summary Congressional Research Service

Amends the Investment Company Act of 1940 to permit a bank, a bank holding company or a subsidiary thereof, or a savings and loan association to: (1) organize, sponsor, operate, or render investment advice to an investment company; or (2) underwrite, distribute, sell, or issue securities of any such investment company which is organized, sponsored, operated, controlled, or so advised by a bank, a bank holding company or a subsidiary thereof, or a savings and loan association.

Requires officers and employees of banks or savings and loan associations who sell such securities to meet such standards with respect to training, experience, and sales practices as the Comptroller of the Currency and the Federal Home Loan Bank Board shall prescribe.

What's happening now May 15, 1981

Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.

 Committees of jurisdiction 4
 Cosponsors 1
All 1 Democratic 1