U.S. Financial Services Global Viability Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Dec 11, 2013)
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 just happenedDec 11, 2013
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseDec 11, 2013
- Dec 11, 2013IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - Dec 11, 2013IntroReferralIntro-H
Introduced in House
- Dec 11, 2013IntroReferral1000
Introduced in House