H.R.3465 - A bill to amend the Investment Company Act of 1940 and for other purposes.97th Congress (1981-1982)
|Sponsor:||Rep. Stark, Fortney Pete [D-CA-9] (Introduced 05/06/1981)|
|Committees:||House - Banking, Finance, and Urban Affrs; Energy and Commerce|
|Latest Action:||House - 05/15/1981 Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance. (All Actions)|
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Summary: H.R.3465 — 97th Congress (1981-1982)All Information (Except Text)
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.