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H.R. 3093, Investor Clarity and Bank Parity Act (CBO Report for Congress)

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Congress 115th
Date Requested Nov. 14, 2017
Requested By House Committee on Financial Services
Date Sent Nov. 21, 2017
Description:

H.R. 3093 would amend current law, known as the “Volker Rule,” to allow certain types of financial firms—hedge funds and private equity funds (known as “covered funds” under the rule)—to have the same name as an insured depository institution or its affiliate. As a result, the federal banking regulators—the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the Federal Reserve—along with the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC)—would be required to revise current regulations concerning allowable naming conventions.

 

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