Summary: H.R.3465 — 97th Congress (1981-1982)All Information (Except Text)

There is one summary for H.R.3465. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (05/06/1981)

Amends the Investment Company Act of 1940 to permit a bank, a bank holding company or a subsidiary thereof, or a savings and loan association to: (1) organize, sponsor, operate, or render investment advice to an investment company; or (2) underwrite, distribute, sell, or issue securities of any such investment company which is organized, sponsored, operated, controlled, or so advised by a bank, a bank holding company or a subsidiary thereof, or a savings and loan association.

Requires officers and employees of banks or savings and loan associations who sell such securities to meet such standards with respect to training, experience, and sales practices as the Comptroller of the Currency and the Federal Home Loan Bank Board shall prescribe.