Section 1 Short title
This Act may be cited as the “Investor Clarity and Bank Parity Act”.
Investor Clarity and Bank Parity Act
AN ACT
To amend the Volcker Rule to permit certain investment advisers to share a similar name with a private equity fund, subject to certain restrictions, and for other purposes.
Sec. 2 Naming restrictions
Section 13 of the Bank Holding Company Act of 1956 (12 U.S.C. 1851) is amended—
in subsection (d)(1)(G)(vi), by inserting before the semicolon the following:
“(I) such investment adviser is not an insured depository institution, a company that controls an insured depository institution, or a company that is treated as a bank holding company for purposes of section 8 of the International Banking Act of 1978;
“(II) such investment adviser does not share the same name or a variation of the same name as an insured depository institution, any company that controls an insured depository institution, or any company that is treated as a bank holding company for purposes of section 8 of the International Banking Act of 1978; and
“(III) such name does not contain the word “bank””
in subsection (h)(5)(C), by inserting before the period the following: “, except as permitted under subsection (d)(1)(G)(vi)”.