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house Bill H.R. 3093

Investor Clarity and Bank Parity Act

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
      senate Committees
      Committee on Banking, Housing, and Urban Affairs
  • The house Passed December 11th, 2017
    Passed by Voice Vote
      house Committees
      Committee on Financial Services
    IntroducedJune 28th, 2017

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Bill Details

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Title

Investor Clarity and Bank Parity Act

Official Title

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.

Summary

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, with a banking entity that is an investment adviser to the hedge fund or private-equity fund, if: the investment adviser is not, and does not share the same name with, an insured depository institution, a company that controls an insured depository institution, or a company treated as a bank holding company for purposes of specified provisions of law relating to nonbanking activities of foreign banks; and the name does not contain the word "bank."