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Bill114th CongressFiled Nov 19, 2015Finance and Financial Sector
H.R. 4096

Investor Clarity and Bank Parity Act

Bill journey · stage 2 of 5

Under committee review

Filed
Comm.
Floor
Both
Law

What it doesSummary passed house without amendment (Apr 26, 2016)

(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."

What just happenedApr 27, 2016

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

Who’s behind it

Rep. Capuano, Michael E. [D-MA-7](D-MA)Sponsor
2 cosponsors2 R
Read on Congress.gov
2cosponsors2committees18actions3subjects
  1. Apr 27, 2016IntroReferral

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

    Banking, Housing, and Urban Affairs Committee
  2. Apr 26, 2016FloorH38310

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

  3. Apr 26, 2016FloorH37300

    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)

  4. Apr 26, 2016Floor8000

    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)

  5. Apr 26, 2016FloorH30000

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

  6. Apr 26, 2016FloorH37220

    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.

  7. Apr 26, 2016FloorH8D000

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

  8. Apr 26, 2016FloorH30000

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

  9. Apr 26, 2016FloorH30300

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

  10. Apr 26, 2016CalendarsH12410

    Placed on the Union Calendar, Calendar No. 403.

  11. Apr 26, 2016CommitteeH12200

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

    Financial Services Committee
  12. Apr 26, 2016Committee5000

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

    Financial Services Committee
  13. Mar 2, 2016Committee

    Ordered to be Reported by Voice Vote.

    Financial Services Committee
  14. Mar 2, 2016Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  15. Feb 24, 2016Committee

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

    Capital Markets Subcommittee
  16. Nov 19, 2015IntroReferralH11100

    Referred to the House Committee on Financial Services.

    Financial Services Committee
  17. Nov 19, 2015IntroReferralIntro-H

    Introduced in House

  18. Nov 19, 2015IntroReferral1000

    Introduced in House

Passed House without amendmentApr 26, 201681

(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."
Introduced in HouseNov 19, 2015

Investor Clarity and Bank Parity Act

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."
Investor Clarity and Bank Parity Act — Informed