S.927 - CLEAR Plus Act of 2015114th Congress (2015-2016)
|Sponsor:||Sen. Moran, Jerry [R-KS] (Introduced 04/14/2015)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 06/23/2016 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 114-366. (All Actions)|
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Summary: S.927 — 114th Congress (2015-2016)All Information (Except Text)
Introduced in Senate (04/14/2015)
CLEAR Plus Act of 2015
This bill amends the Securities Exchange Act of 1934 to: (1) subject a savings and loan holding company to registration requirements for securities whose issuer has total assets exceeding $10 million and a class of non-exempt equity security held of record by 2,000 or more persons; and (2) apply the automatic termination of registration, and suspension of the duty to file supplementary and periodic information, to a savings and loan holding company whose securities are found to be held by less than 1,200 persons.
The Federal Deposit Insurance Act is amended to require the federal banking agencies to issue regulations allowing for a reduced reporting requirement for certain depository institutions when making the first and third report of condition for a year. These reporting requirements apply to any insured depository institution that:
- as of the most recent examination has a CAMELS composite rating of 1 or 2 under the Uniform Financial Institutions Rating System (or an equivalent rating under a comparable rating system) for capital adequacy, assets, management capability, earnings, liquidity or asset liability management, and sensitivity to market risk; and
- satisfies other appropriate criteria as such agencies determine.