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2014 SESSION
HB 443 Financial institutions; broadens definition.
Introduced by: Glenn R. Davis | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Financial institutions; definition. Broadens the definition of the term "financial institution," as used in Title 6.2, to include any entity that is defined as a financial institution under Subchapter IV (Payment, Clearing, and Settlement Supervision) of Chapter 53 (Wall Street Reform and Consumer Protection) of Title 12 of the U.S. Code. Under this federal definition, "financial institution" includes a depository institution, branch or agency of a foreign bank, foreign branch of a national banking association or banking corporation authorized to do foreign banking business pursuant to § 25 or 25A of the Federal Reserve Act, credit union, broker or dealer as defined in § 3 of the Securities Exchange Act of 1934, investment company, insurance company, investment adviser, futures commission merchant, commodity trading advisor, or commodity pool operator, or company engaged in activities that are financial in nature or incidental to a financial activity as described in section 4 of the Bank Holding Company Act of 1956, but does not include designated contract markets, registered futures associations, swap data repositories, and swap execution facilities registered under the Commodity Exchange Act or national securities exchanges, national securities associations, alternative trading systems, securities information processors solely with respect to the activities of the entity as a securities information processor, security-based swap data repositories, and swap execution facilities registered under the Securities Exchange Act of 1934, or designated clearing entities with respect to the activities that require the entity to be so registered.
FULL TEXT
HISTORY
- 01/05/14 House: Prefiled and ordered printed; offered 01/08/14 14102324D
- 01/05/14 House: Referred to Committee on Commerce and Labor
- 01/13/14 House: Assigned C & L sub: Subcommittee #2
- 01/23/14 House: Subcommittee recommends striking from docket by voice vote
- 01/28/14 House: Stricken from docket by Commerce and Labor by voice vote