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House Bill 3093
115th Congress(2017-2018)
Investor Clarity and Bank Parity Act
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Passed House on Dec 11, 2017
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H. R. 3093 (Engrossed-in-House)


115th CONGRESS
1st Session
H. R. 3093

AN ACT

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’

(2) in subsection (h)(5)(C), by inserting before the period the following: “, except as permitted under subsection (d)(1)(G)(vi)”.

Passed the House of Representatives December 11, 2017.

Attest:





Clerk.  

115th CONGRESS
     1st Session
H. R. 3093
AN ACT
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.