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12 U.S.C. § 1831l — Coordination of risk analysis between SEC and Federal banking agencies

submitted 76 years ago by Pub. L. 101-432 to r/title-12-BANKS-AND-BANKING · 108 words · no verdicts yet

in plain englishAI-generated · not legal advice

An appropriate Federal banking agency must notify the Securities and Exchange Commission about significant financial or operational risks to certain SEC-regulated brokers or dealers when the risks result from an insured depository institution, holding company, or affiliate.

An appropriate Federal banking agency must notify the Securities and Exchange Commission of concerns about significant financial or operational risks to a registered broker or dealer, registered municipal securities dealer, government securities broker, or government securities dealer for which the Commission is the appropriate regulator under 15 U.S.C. § 78c. The concern must result from activities of an insured depository institution, a depository institution holding company, or an affiliate, and the broker or dealer must be an affiliate of that institution, company, or affiliate.

the actual law source: uscode.house.gov ↗public domain

Any appropriate Federal banking agency shall notify the Securities and Exchange Commission of any concerns of the agency regarding significant financial or operational risks to any registered broker or dealer, or any registered municipal securities dealer, government securities broker, or government securities dealer for which the Commission is the appropriate regulatory agency (as defined in section 78c of title 15), resulting from the activities of any insured depository institution, any depository institution holding company, or any affiliate of any such institution or company if such broker, dealer, municipal securities dealer, government securities broker, or government securities dealer is an affiliate of any such institution, company, or affiliate.

Source credit: (Sept. 21, 1950, ch. 967, § 2[35], as added Pub. L. 101–432, § 7, Oct. 16, 1990, 104 Stat. 975.)

history & why it existsrecord from the source credit
  • 1950Enacted · Pub. L. 101-432 · 104 Stat. 975

A history note hasn’t been published yet. The record shows enactment by Pub. L. 101-432 on 1950-09-21.

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