US Congress House Bill 6524 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 6-0)
Status: Introduced on September 21 2012 - 25% progression, died in committee
Action: 2012-09-21 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

U.S. Financial Services Global Viability Act - Amends the Bank Holding Company Act of 1956 to delay the effective date for prohibitions or the mandate for related rulemaking against proprietary trading by a banking entity and any equity, partnership, or other ownership interest of a banking entity in or sponsorship of hedge funds or private equity funds. (Currently the effective date of such prohibitions and the mandate to make related regulations is the earlier of 12 months after the date of the issuance of final rules or 2 years after the date of enactment [July 21, 2010].) Delays the effective date of such prohibitions and regulatory mandate until the Secretary of the Treasury: (1) identifies the foreign countries having foreign banks chartered and headquartered in them that compete significantly with banking entities subject to such Act, and (2) certifies that such countries have applied to such foreign banks (including subsidiaries and affiliates) requirements equivalent to those set forth under such Act.

U.S. Financial Services Global Viability Act

Rep. Peter King [R-NY]	Rep. John Campbell [R-CA]	Rep. Michael Grimm [R-NY]	Rep. Bill Huizenga [R-MI]
Rep. Howard McKeon [R-CA]	Rep. Gary Miller [R-CA]

Date	Chamber	Action
2012-09-21	House	Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/6524/all-info
Text	https://www.congress.gov/112/bills/hr6524/BILLS-112hr6524ih.pdf